Bloomberg Billionaires Index

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# Bob Duggan

Random fact: Scientology's largest donor, according to former church officials.

Overview

Duggan is a value investor who acquires and sells companies in diverse sectors including robotic surgery and billboards. He sold drugmaker Pharmacyclics in 2015, realizing a personal gain of more than $3 billion after taxes. Duggan's the largest shareholder, in Pulse Biosciences, a medical device company.

As of Jan. 21, 2018:
Last change ()
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Industry Pharmaceuticals
Biggest asset N/A
Citizenship United States
Age 66
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Bob Duggan's net worth of can buy ...

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Latest News

Net Worth Summary

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Biography

Birthdate:
Family: Married, 8 children
Education: University of California Los Angeles University of California Santa Barbara

Robert W. "Bob" Duggan has been investing since he was a student at the University of California, Santa Barbara in the mid-1960s. The Berkeley, California-born billionaire said in a 2010 address to UC Santa Barbara graduates that he made money in college by investing in ethernet companies. In 1976, he and then-brother-in-law Dan Patterson started Cookie Muncher's Paradise, a bakery they expanded to 16 locations as a gourmet sandwich chain called Paradise Bakery. They sold it in 1987 for about $6 million.

Duggan acquired in 1980 a majority stake in ethernet company Communication Machinery. He sold it in 1988 to Rockwell International for $40 million. From 1986 to 1994, Duggan was a board member -- including a stint as chairman -- of Government Technology Services, a large vendor to the federal government.

According to his biography on the website of UC Santa Barbara, where he is a trustee, Duggan became chairman and CEO of Computer Motion, a robotic surgery company, in 1990. Three years later, Computer Motion became the first company to have a robotic surgery system approved for use by the Food & Drug Administration, according to company filings with the U.S. Securities and Exchange Commission. In 2003, it was sold to Intuitive Surgical for $67 million in stock. Duggan later sold his stake for more than $150 million, according to regulatory filings.

In 2004, Duggan began amassing a stake in Pharmacyclics, becoming chairman and CEO in 2008. The company struck a $975 million deal in 2011 with a subsidiary of Johnson & Johnson to fund drug development in exchange for a split of the profits of the drug ibutrinib, which treats certain lymphomas and multiple myeloma.

Duggan has been a big donor to the Church of Scientology, which he joined around 1979. According to a former Scientology official and Scientology researchers, Duggan has given more than $20 million to the organization. He also has given between $1 million and $5 million to UC Santa Barbara. Duggan confirmed the recipients of his giving in a January 2013 e-mail to Bloomberg News and wouldn't confirm the amounts.

He and his wife Patricia, called Trish, have eight children, one of whom is deceased.

Milestones
  • 1966 Finishes courses at the University of California, Santa Barbara.
  • 1976 Co-founds Cookie Muncher's Paradise in Long Beach, California.
  • 1988 Sells Communication Machinery to Rockwell for $40 million.
  • 1990 Becomes chairman of Computer Motion. Appointed CEO in 1997.
  • 2003 Intuitive Surgical buys Computer Motion in an all-stock transaction.
  • 2006 Sells European billboard company MAG International to JCDecaux.
  • 2008 Becomes Pharmacyclics chairman after board shakeup.
  • 2015 Duggan makes $3.5 billion profit on his $42 million Pharmacyclics investment.