Healthcare 3-comma club

FORBES has released its annual list of the world’s known billionaires in 2018.

Generic pharmaceuticals dominate the healthcare division with Dilip Shanghvi, 62, of India with a net worth of $12.8b topping the healthcare list, while at #115 on the all-industries list.

Shanghvi borrowed $200 from his father to start Sun Pharma in 1983 to make psychiatric drugs.

The company is now the world’s fourth largest generics manufacturer and India’s most valuable pharmaceutical group, although his fortunes were challenged this last year when the US FDA noted manufacturing lapses at one of his biggest facilities.

South Korean Seo Jung-jin, 60, at #126 with $11.9b networth but #2 in healthcare, is ceo of Celltrion, a biopharmaceutical company which develops drugs to treat cancer, influenza and rheumatoid arthritis, among others.

With a net worth of $9.6b, Thomas Frist Jr of the US is at #158 overall but #3 in healthcare.

A former Air Force flight surgeon, Frist founded Hospital Corp of America with his father in 1968, and took it public for the third time in 2011 after two management buyouts.

An Indian vaccines manufacturer, a Swiss biotech owner, a US medical devices manufacturer (Cook Group) and an Italian pharmaceuticals (Menarini) group owner form the next group of billionnaires in healthcare.

Across all industries, #1 is Jeff Bezos ($112) of Amazon, #2 is Bill Gates ($90b) of Microsoft, #3 is Warren Buffett ($84b) of Berkshire Hathaway while Facebook’s Mark Zuckerberg ($71b) comes in at #5.

Elon Musk ($19.5b) from Tesla, holds #54, Gina Rinehart ($17.4b) occupies #69, Rupert Murdoch ($15b) is at #94 and James Packer ($4.1b) at #527.