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California’s ‘other’ SA billionaire in headlines – With insights from The Wall Street Journal
'Patrick Soon-Shiong is exploring a sale of the Los Angeles Times less than three years after buying it for $500 million', says The Wall Street Journal.
South Africa has exported some extraordinary talent to California – think Elon Musk, Shaun Tomson and Roelof Botha. Equally famous in the US's Golden State is 68-year old Port Elizabeth-born, Wits medical graduate Patrick Soon-Shiong, one of California's best-known billionaires. A transplant surgeon and biotech entrepreneur, he hit global headlines three years ago when buying the LA Times newspaper company for $500m. But after pouring another fortune into the business, he's apparently throwing in the towel. Here's the scoop from our partners at The Wall Street Journal. – Alec Hogg
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