Dr. Kiran Patel, a notable Indian-American cardiologist, entrepreneur, and philanthropist, has an estimated net worth of $250 million. Born in Zambia to a Gujarati Hindu family, Dr. Patel moved to Tampa, Florida, where he established his career in the health sector and built a vast real estate portfolio, including a 63,310-square-foot mansion, the largest single-family dwelling in Hillsborough County.
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Summary of Dr. Kiran Patel net worth
|Net Worth||Profession||Key Investments||Philanthropic Contributions|
|$250 million||Cardiologist, Entrepreneur, Philanthropist||Freedom Health, Inc., Real Estate||Florida Hospital Carrollwood, Nova Southeastern University, Patel High School|
Detailed Analysis of Dr. Kiran Patel’s Net Worth
Dr. Patel’s net worth is attributed to his successful career in the health sector and his savvy business ventures. In 1985, he established a business for managing medical practices, which quickly expanded to 14 clinics. He bought Well Care HMO, Inc. in 1992 for $5 million, which he later sold for $200 million in 2002. Patel also held a significant stake in the Kingston-based WellCare Management Group Inc.
Real Estate Portfolio
A major contributor to Dr. Patel’s net worth is his extensive real estate investments. Notably, he is building a massive 63,310-square-foot mansion in the Carrollwood subdivision in Tampa, Florida, which is set to be the largest single-family dwelling house in Hillsborough County.
Health Sector Investments
Dr. Patel’s entrepreneurial prowess extends to the health sector. He acquired Optimum Healthcare Inc. and Freedom Health in 2007 and later established America’s 1st Choice Holdings of Florida. These businesses grew to generate over $1 billion in revenue before being sold to Anthem in April 2019.
Challenges and Legal Issues
Despite his success, Dr. Patel has faced legal challenges. In 2009, a whistleblower alleged Freedom was tampering with enrollment lists. Patel and Freedom Health settled allegations of breaking the False Claims Act in May 2017, agreeing to pay $31.7 million.
Dr. Patel is known for his generous philanthropic contributions. He promised to donate $7.5 million to Florida Hospital Carrollwood and pledged $225 million to the osteopathic and allopathic medical colleges at Nova Southeastern University. Other notable donations include $20 million to Patel High School’s tuition-free program.
Recognition and Honors
In recognition of his contributions, the Clearwater City Council renamed Damascus Road as Dr. Kiran C. Patel Boulevard in January 2019.
Dr. Kiran Patel’s net worth of $250 million is a testament to his entrepreneurial spirit and success in the health sector. Despite facing legal challenges, he has consistently shown resilience and commitment to giving back to the community.
1. What is Dr. Kiran Patel’s net worth?
Dr. Kiran Patel’s net worth is estimated to be $250 million.
2. What are Dr. Kiran Patel’s main investments?
His primary investments are in the health sector and real estate.
3. What is Dr. Kiran Patel known for?
He is known as a cardiologist, entrepreneur, and philanthropist.
4. Has Dr. Kiran Patel faced any legal issues?
Yes, in 2009, a whistleblower alleged that Freedom Health was tampering with enrollment lists.
5. What are some of Dr. Kiran Patel’s notable philanthropic contributions?
He has donated to institutions like Florida Hospital Carrollwood and Nova Southeastern University, among others.
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