10 Richest Doctors In The World 2023

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This Article was Reviewed by The Chief Editor, Godfrey

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Doctors have earned tremendous respect in society for the care and competence they provide their patients. However, some doctors have become wealthy thanks to their medical jobs and other investments. 

These healthcare professionals have used their medical expertise to amass vast fortunes through various means. This includes the creation of life-saving medicines and the establishment of thriving medical corporations. 

These professionals have made their mark in fields ranging from pharmaceuticals to medical equipment. Moreover, they have demonstrated that professional excellence in one’s field and financial success are not mutually exclusive. 

It’s interesting to note that as the world’s population rises, so will the need for medical treatment, meaning more revenue for doctors.

In today’s post, we’ll look at the top 10 wealthiest doctors in the world. 

Richest Doctors In The World

Top 10 Richest Doctors in The World

Below are some of the richest doctors in the world:

1. Dr. Thomas Frist Jr

Thomas Frist Jr., MD, is one of the world’s leading doctors and co-founded the Hospital Corporation of America (HCA). He was born on April 12, 1910, in Nashville, Tennessee. 

Frist earned his medical degree from Vanderbilt University after finishing his undergraduate studies at Washington University in St. Louis.

He later opened a private practice in Nashville after serving in World War II. 

Also,  he established the Hospital Corporation of America (HCA) in 1968 with his son Dr. Thomas Frist Jr. and a financial partner named Jack Massey. HCA’s mission was to make quality healthcare more accessible financially to individuals all around the United States.

HCA expanded swiftly under Frist’s direction, purchasing medical centers and hospitals throughout the United States. By 1969, the corporation had become one of the most prominent publicly traded U.S. hospital conglomerates. 

Through a leveraged buyout conducted by Frist’s son, Thomas Frist Jr., the firm became private in 1987.

Dr. Frist was also well known for his generosity. He gave a lot of money to the Nashville Symphony and Vanderbilt University, among other places. He sadly passed away in 1998 at age 88. His fortune is predicted to be around $22.3 billion in 2023.

2. Patrick Soon Shiong

Dr. Patrick Soon-Shiong is often regarded as the richest doctors in the world. He has other accomplishments as a physician, surgeon, entrepreneur, and philanthropist. 

Richest Doctors In The World

He was born on July 29, 1952, in Port Elizabeth, South Africa. Before relocating to the United States, Soon-Shiong earned his medical degree at the University of the Witwatersrand in Johannesburg, South Africa.

Soon-Shiong is a surgical oncologist who made significant advances in treating pancreatic cancer in the United States. In addition, he has contributed to the creation of several cancer treatments, including the medication Abraxane, which is effective against breast and non-small cell lung cancer.

The medical practitioner is also a very successful businessman; he established Abraxis BioScience and NantKwest. NantKwest is one of the most promising biotech businesses in the world because of its dedication to discovering novel cancer therapies based on natural killer cells.

Soon-Shiong is well-known for his charitable contributions and achievements in healthcare and biotechnology. 

He’s given a lot of money, millions of dollars worth, to numerous charities and causes, including healthcare and cancer research. In 2010, he pledged via The Giving Pledge to give away at least half of his fortune to charity. As one of the most affluent doctors in the world, his net worth is about $7.3 billion.

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3. Dr. Wu Yiling

Dr. Wu Yiling has made a fortune in the healthcare field as a traditional Chinese medicine practitioner, businessman, and philanthropist. He was born on February 22, 1952, in Taizhou, Zhejiang, China.

Dr. Wu Yiling established the Yiling Pharmaceutical Co., which manufactures pharmaceuticals based on traditional Chinese medicine, and he serves as its chairman. To this day, “Yiling Wubao,” the company’s flagship product, is a household name in China for its effectiveness in treating heart disease.

Richest Doctors In The World

Wu Yiling is well-known for his charitable contributions and success in the pharmaceutical sector. He’s given a lot of money away, a lot of it to good causes like education and disaster assistance. By donating $30 million in 2017, he helped launch the Yiling Global Health Industry Fund to study TCM further.

As of 2023, Wu Yiling’s net worth is estimated to be around $4 billion, making him one of the wealthiest people in China. He has used his fortune to advocate for traditional Chinese medicine and has been honored for his efforts. 

4. Philip Frost

Dr. Phillip Frost is a successful businessman, entrepreneur, and investor in the healthcare and biotechnology sectors. On May 17, 1936, he was conceived in Scranton, Pennsylvania. 

After graduating from the University of Pennsylvania School of Medicine, Frost became a dermatologist.

He moved from academia to the corporate sector in the early 1980s when he co-founded the pharmaceutical firm Ivax Corporation. Teva Pharmaceutical Industries paid $7.4 billion in 2006 to purchase Ivax, making it one of the biggest generic drug makers in the world. 

Frost led Teva Pharmaceutical Industries as its chairman from 2010 till 2015.

Frost has been quite successful in the pharmaceutical field, but he has also been an investor via his organization, Frost Gamma Investments Trust. 

His business experience includes time spent on the boards of Ladenburg Thalmann Financial Services and OPKO Health, which he co-founded in 2007.

Frost is also well-known for his philanthropic contributions, which span several fields. He, however, donates more to healthcare, education, and Jewish organizations. His net worth is around $1.9 billion

Frost’s net worth has decreased due to legal expenses and settlements after he was accused by the Securities and Exchange Commission (SEC) of suspected securities fraud in 2018.

5. Dr. Gary Michelson

Dr. Gary Michelson is a spinal surgeon, inventor, and philanthropist who became wealthy through his patents on orthopedic spinal implants and other medical devices. He was born on January 14, 1949, in Philadelphia. 

Michelson earned his medical degree from Penn’s medical school and went on to focus on orthopedic surgery.

Richest Doctors In The World

Michelson’s grandmother suffered from syringomyelia, a condition in which cysts develop in the spinal cord. If allowed to grow in length, it may cause irreparable harm. This experience encouraged him to pursue spinal surgery.

Michelson’s efforts to better treat spinal injuries and diseases using medical technology started in the 1980s. Medtronic and NuVasive, two medical device corporations, bought numerous of his inventions, including spinal implants and surgical equipment. 

Michelson has accumulated over 900 patents over his career as an inventor.

Michelson is well-known as a benefactor in addition to his achievements in the medical equipment sector. He has given millions of dollars to charities, some focusing on animal rights, education, and health. In 2004, he established the Michelson Medical Research Foundation to support studies in various medical topics, particularly those on spinal cord injury.

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A conservative estimate puts Michelson’s wealth at $1.8 billion in 2023. However, as of 2019, he had pledged to give up his whole wealth to charity.

6. Kathy Fields

Dr. Kathy Fields is a physician and businesswoman who, together with Dr. Katie Rodan, created the skincare firm Rodan + Fields. 

She was born on December 13, 1956, in Pennsylvania. Fields earned her M.D. from the University of Miami School of Medicine and went on to specialize in dermatology.

In the 1990s, Fields and Rodan rose to prominence with the introduction of their acne treatment method Proactiv. In 2002, they established the cosmetics company Rodan + Fields, which initially supplied items to department shops before shifting to a direct sales strategy.

Fields has led Rodan + Fields to become one of the most successful skincare companies in the world, with a market cap of over $1 billion. She is well-known for her ground-breaking method of skincare. 

She combines science and technology with specialized routines for each client. Her net worth is estimated to be $530M in 2023.

Fields is a successful businesswoman in the cosmetics industry and an active philanthropist who has contributed to several organizations, including the Make-A-Wish Foundation. She also advocates for women in business and has shared her thoughts on supporting female company owners.

7. Phillip Mcgraw

Dr. Phillip McGraw, popularly known as Dr. Phil, is a psychologist, author, and television personality who rose to celebrity for his work on the program “Dr. Phil. His parents welcomed him into the world on September 1, 1950, in Vinita, Oklahoma. 

Wealthiest Doctors In The World

Before entering the television industry, McGraw earned a Ph.D. in clinical psychology from UNT.

After appearing as a relationship and psychology expert on “The Oprah Winfrey Show” in the late ’90s, McGraw became well known throughout the country. 

He then hosted one of the longest-running and most popular daytime talk programs in history with his show, “Dr. Phil,” which premiered in 2002.

McGraw is not just a well-known T.V. personality but also an accomplished writer. Two of his books, “Life Strategies” and “Self Matters,” are bestsellers in the self-help and personal development genres.

McGraw is one of the natural world’s highest doctors and T.V. hosts, with a net worth of $460 million. He has donated a significant portion of his fortune to different organizations, such as those dealing with children and mental health. 

8. James Andrew

Dr. James Andrews is well-known in the sports medical and surgical communities for his work with elite athletes. On September 2, 1942, he entered this world in Homer, Louisiana. Andrews earned his M.D. from LSU and then went on to focus on orthopedic surgery and sports medicine.

Andrews’ patients have included Michael Jordan, Tom Brady, and Kobe Bryant, to name a few of the world’s most famous athletes. In addition to working with the Washington Football Team, he serves as a team physician for the Tampa Bay Rays and other major sports organizations.

Andrews is a wealthy businessman in addition to his career in sports medicine. The Andrews Institute for Orthopaedics and Sports Medicine in Gulf Breeze, Florida, is one of the many medical centers he established. 

Patients travel worldwide to seek treatment at the Andrews Institute, which is widely regarded as one of the best sports medicine hospitals globally.

Andrews’s net worth is around $100 million. He has donated much of his fortune to philanthropic endeavors, including education and medical study. Andrews has also founded several nonprofits, such as the Andrews Research and Teaching Foundation, which supports sports medicine-related research and teaching.

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9. Terry Dubrow

In addition to his work as a cosmetic surgeon, Dr. Terry Dubrow has become known as a T.V. personality because of his appearances on the reality program “Botched.” 

Richest Doctors In The World

He was born on September 14, 1958, in Los Angeles. Dubrow received his medical degree from the UCLA School of Medicine and went on to practice cosmetic surgery.

Dubrow has treated many famous people at his thriving cosmetic surgery clinic in Newport Beach, California. 

He has also written several publications, including “The Dubrow Diet” and “The Dubrow Keto Fusion Diet.”

Dubrow is a plastic surgeon and a well-known face on the small screen. In addition, he is well-known for his role as co-host of the reality program “Botched,” In the show, he and Dr. Paul Nassif assist individuals who have had unsuccessful cosmetic surgery.

Dubrow’s net worth is estimated at around $70 billion in 2023. He has donated much of his fortune to philanthropic endeavors, including education and medical study. 

Donations have been made in Dubrow’s name to the likes of the American Red Cross and Children’s Hospital of Orange County, among others.

10. Leonard Hochstein

Dr. Leonard Hochstein is a well-known plastic surgeon who has worked with many famous people and socialites. He was born on June 18, 1966, in Moscow, Russia. After earning his M.D. from the University of Alabama, Hochstein decided to focus on cosmetic surgery.

He has treated several High-profile patients at his thriving cosmetic surgery clinic in Miami, Florida. As a plastic surgeon, he is well-known for his expertise in breast augmentation and other body sculpting techniques, such as the “Brazilian butt lift.”

Richest Doctors In The World

Hochstein is a plastic surgeon who also has a media career. He has been featured in numerous reality series, including “The Real Housewives of Miami” and “Botched.”

Hochstein is estimated to have a net worth of $20 million. He has donated a lot of money to many organizations that work to improve the lives of animals and protect the environment. He is also a generous benefactor, having given to organizations including the Humane Society and the World Wildlife Fund.

Conclusion

Many of the richest doctors in the world have built their fortunes in areas outside of traditional medicine. These areas include cosmetic surgery, television, skincare, and pharmaceuticals. 

Although they all got where they are by different means, these people have one thing in common: a deep love of what they do and a dedication to making the world a better place for everyone.

Their successes exemplify what can be accomplished with dedication, hard effort, and love for one’s job. Thus, it should motivate anybody considering a career in medicine or business.

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About the Chief Editor

Godfrey Ogbo, the Chief Editor and CEO of AtlanticRide, merges his environmental management expertise with extensive business experience, including in real estate. With a master's degree and a knack for engaging writing, he adeptly covers complex growth and business topics. His analytical approach and business insights enrich the blog, making it a go-to source for readers seeking thoughtful and informed content.

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