02/08/2012 03:21 pm ET

Patrick Soon-Shiong Dodgers Bidder: Richest Man In LA May Join Magic Johnson's Bid

Who is the richest man in LA? Dr. Patrick Soon-Shiong. And he may just be the future owner of the Dodgers.

In a race that is down to about eight final bidders, Dr. Soon-Shiong will likely determine which group wins based on which group he joins.

Dr. Soon-Shiong said Tuesday that he will "absolutely participate" in a bid for the team, and, as a close friend of Magic Johnson's, it is likely he'll join Johnson and Stan Kasten's bid, the Los Angeles Times reports. Soon-Shiong bought Johnson's 4.5 percent stake in the Lakers and is reportedly more passionate about basketball than baseball.

He told the LA Times, "My commitment is to Los Angeles, so whatever helps this continue to be a great city, that's what I would be focused to do and the Dodgers are certainly iconic to Los Angeles."

Dr. Soon-Shiong may, however, be waiting to see which bidding group is in the lead before committing to one, CBS speculates.

Soon-Shiong is a physician and biotech developer and investor. He made his $7 billion fortune in the past three years by selling two drug companies. He is widely known for developing a new method of administering Paclitaxel, a widely-used breast cancer drug.

As Forbes reports, he is now focused on his vision for improving the US health care system, which "calls for establishing a national health information network that connects scientists around the country working on breakthrough medical research with doctors and their patients, and pushing for rewarding doctors based on a patient’s outcome, instead of the number of procedures they perform. "