Bloomberg Billionaires Index

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#482 Osman Kibar $4.00B

Random fact: Samumed was previously called Wintherix.

Overview

Kibar is the founder of Samumed, a biotech startup that is developing treatments for baldness and arthritis. The closely held San Diego-based company has raised more than $300 million from investors since 2008 and has 11 drugs in its pipeline. Investors valued the drugmaker at $12 billion during its most recent fundraising in 2016.

As of July 22, 2017:
Last change No change
YTD change No change
Industry Health Care
Biggest asset Samumed
Citizenship United States
Age 0
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Osman Kibar's net worth of $4.00B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Kibar's fortune is derived from the one-third stake he owns in closely held biotech company Samumed. The holding is valued using the $12 billion valuation ascribed to the company during its latest round of fundraising in April 2016.

David Seldin, a Samumed spokesman who works at advisory firm Brunswick, confirmed Kibar's stake and the company's valuation in a June 2017 email.

Biography

Birthdate:
Family: Unknown, No children
Education: 1999, University of California San Diego, PhD 1993, California Institute of Technology, Electrical Engineering, Bachelor's Degree 1991, Pomona College, Bachelor's Degree University of California San Diego, Master's Degree

Osman Kibar was born in Turkey and moved to California to study Mathematical Economics at Pomona College in the early 1990s before getting a degree in Electrical Engineering at the California Institute of Technology, according to Samumed's website. He received his PhD in Biophotonics and Optoelectronics at the University of California, San Diego in 1999.

While at UCSD he co-founded biotech Genoptix and antenna maker E-Tenna before leaving academia to work for Pequot Capital's venture capital and private equity team in New York. He returned to California and founded biotech startup Wintherix in 2008, which was housed in a Pfizer incubator in La Jolla.

Two years later Wintherix left the Pfizer lab and the two companies sued each other. The parties eventually settled in 2012 and Kibar renamed his company Samumed. The biotech's most recent fundraising saw it raise $100 million at a $12 billion valuation.

Milestones
  • 1989 Moves to California from Turkey.
  • 1999 Co-founds biotech Genoptix.
  • 1999 Receives PhD from University of California, San Diego.
  • 2008 Starts Samumed predecessor Wintherix in La Jolla, California.
  • 2010 Wintherix leaves Pfizer incubator. Pfizer sues Wintherix.
  • 2011 Novartis buys Genoptix for $470 million.
  • 2012 Settles lawsuit with Pfizer.
  • 2015 Samumed completes clinical trial for baldness drug.