Today, we are going to have a little fun. This is meant as a lighthearted post to look at who is financially doing very well as a physician.
We will take a look at the highest net worth doctors that I was able to find. Everyone has a story, and maybe by taking a look at these doctors, we can learn something from these individuals on how they became successful. This post will take a look at some prominent physicians or physician entrepreneurs to see what their net worth is and what industry lead them to financial success.
Every physician on this list has one thing in common. They created something that was able to scale in its distribution. Because of this, they were able to amass huge financial wealth that contributed to these doctors net worth.
While researching for this list, I was also struck how many of the people on this are “self made.” Most of the people on this list do not appear to come from very wealthy backgrounds. Instead, they created a business and provided a product that many people use.
All of these individuals were also willing to take a risk by starting their own business, usually with something they knew a lot about and were passionate about.
Thomas Frist – Internal Medicine
Estimated Doctors Net worth: $21 Billion
Method of Obtaining Wealth: Started HCA.
As of writing this article, January 2022, he is the financially wealthiest physician that I was able to find. He started HCA in 1968 and grew it into the large organization that it is today.
Patrick Soon Shiong – Transplant Surgeon
Estimated Doctors Net worth: $7.3 Billion
Method of Obtaining Wealth: He started several pharmaceutical companies. One of those companies invented the drug Abraxane and later sold those companies. Currently still involved with pharmaceutical companies and also in COVID-19 vaccines.
Ugur Sahin- Oncologist and Immunologist
Estimated Doctors Net worth: $4.2 Billion
Method of Obtaining Wealth: Turkish physician who started BioNTech in 2008 which has been instrumental in the COVID-19 vaccine production.
Phillip Frost – Dermatologist
Estimated Doctors Net worth: $2.5 Billion
Method of Obtaining Wealth: Founded Ivax, a generic drugmaker and sold it to Teva for $7.6 Billion in 2005. Also was involved with several asthma medication manufacturing lines. He now runs Opko Health which is a diagnostic-maker.
Wu Yiling – Traditional Chinese Medicine
Estimated Doctors Net worth: $3 Billion
Method of Obtaining Wealth: Founded Yiling Pharmaceutical which makes various medications. He founded this company in 1992. He reportedly practiced traditional Chinese medicine for 11 years before founding the pharmaceutical company.
Gary Michelson – Orthopedic Surgery
Estimated Doctors Net worth: $3 Billion
Method of Obtaining Wealth: Retired orthopedic and spinal surgeon who has many patents for surgical instruments or products. In 2005 he reached a $1.35 billion settlement with Medtronic for infringing on these patents.
Kathy Fields / Katie Rodan – Dermatology
Estimated Doctors Net worth: $700 Million Each
Method of Obtaining Wealth: Co-Creaters of acne treatment such as Proactiv and skin care brand Rodan + Fields. Roden is reportedly a professor dermatology at Stanford.
Michael Crichton – Graduated from Harvard with MD, never practiced
Estimated Net Worth at time of his death in 2008: $400 Million
Method of Obtaining Wealth: Author, television, and film producer. Best known for creating television series “ER”, and movies such as “Congo”, “Sphere”, and “Jurassic Park.” Unfortunately, he died in 2008 while battling Lymphoma.
Dr. Mehmet Oz – Cardiothoracic Surgeon
Estimated Doctors Net worth: $100 Million
Method of Obtaining Wealth: Author and TV personality who reportedly makes more than $20 Million per year and has a net worth north of $100 Million. He trained as a cardiothoracic surgeon and worked most recently at Columbia University. Now well known for his daytime TV program.
Joseph S. Englanoff -Emergency Medicine
Estimated Doctors Net worth: $50+ Million
Method of Obtaining Wealth: California ER physician who has done quite a bit of real estate investing and recently made headlines for taking ownership of “The One” along with other investors. The house called “The One” is a $295 million (asking price) California mansion that is now listed for sale in 2022.
Ray Muzyka – Family Physician
Estimated Doctors Net worth: $90 Million
Method of Obtaining Wealth: Instead of practicing medicine post-graduation from medical school, he and several others, founded the gaming company BioWare (along with medical school classmate Greg Zeschuck). BioWare was sold to Electronic Arts in 2008 for $860 Million. He has since then become an investor in many other companies.
Greg Zeschuck – Family Physician
Estimated Doctors Net worth: ?$30 Million
Method of Obtaining Wealth: Instead of practicing medicine post graduation from medical school, he and several others founded the gaming company BioWare (with classmate Ray Muzyka as above). BioWare was sold to Electronic Arts in 2008 for $860 Million. He is reported to be involved in the craft-beer industry now.
Additional High Net Worth Doctors Who Are Entrepreneurs
The list could get quite long for doctors who are entrepreneurs. However, it is quite difficult to add more doctors since some companies are private companies. This makes it very difficult for me to figure out their net worth. It would most likely be a “best guess” situation.
For example, Oliver Kharraz is the founder of ZocDoc. ZocDoc has taken hundreds of millions in funding and has a current valuation of $2 Billion. It is unclear to me how many shares or what percent of the company he has.
If you know anyone that you would like me to add to the list, leave a message below and I can look into adding to the list.