After Losing Son to Cancer, Went 'All In' with Entire Fortune... Became a $21 Trillion Asset Holder, 'American High School Graduate Baker'

WSJ Investment Success Story Spotlight
"The Key Is the Desire and Willingness to Learn"

The story of Robert Deegan, a self-made wealthy individual who started as a baker without a college diploma, is gaining attention. After losing his son to cancer at the young age of 26 in 2004, Deegan developed an interest in the biotech industry and began investing. Born in 1944 and now 80 years old, his assets have reached $16 billion (approximately 21 trillion KRW) as of September.

On the 23rd (local time), the U.S. Wall Street Journal highlighted his life in an article titled "High School Graduate Surfer Becomes Biotech Billionaire."

Wealthy individual Robert Dugan. [Image source=Captured from Robert Dugan's official website]

Deegan was originally an ordinary baker who enjoyed surfing. However, after the death of his beloved son, he invested all his savings into the biotech industry.

The first stock he purchased was the pharmaceutical company Pharmacyclics, which was developing a new drug to treat his son's cancer. Although Pharmacyclics failed to develop a cancer drug, it succeeded in developing a leukemia treatment, causing its stock price to rise and making Deegan a millionaire.

Later, in 2022, Deegan became the CEO of another pharmaceutical company, Summit Therapeutics. The WSJ noted, "Since Deegan's appointment as CEO, Summit Therapeutics developed a new drug for lung-related diseases, resulting in a 1000% increase in stock price compared to the previous year," and added, "Deegan surprised people by achieving a second success."

The WSJ attributed Deegan's success to his exceptional passion and determination. They stated, "There is a perception that biotech companies require impressive academic backgrounds and complex terminology, but CEO Deegan broke through this head-on and overturned it," emphasizing, "His success shows that the desire and will to learn are the most important factors."