JOE KIANI
FOUNDER, CEO, CHAIRMAN
MASIMO CORP.
THE MONEY: Co-founded medical monitoring device company in 1989. Has a roughly 8.5% stake—currently worth about $485M—in $5.7B billion firm (Nasdaq: MASI). An undisclosed bidder is offering between $850M to $950M for a majority stake in Masimo’s consumer unit that may spin out. Kiani is involved in other privately held medical device companies, such as Irvine’s Cercacor, which he owns, and is believed to have significant holdings and assets outside of Masimo stock. Facing proxy battle where he might lose his company.
AMERICAN SUCCESS STORY: Left native Iran at age 9 when he knew only three words of English. Believed in a new way to improve accuracy of patient monitoring by using what is called adaptive signal processing. Masimo has 500-plus patents, including more than 100 in Kiani’s name. Suing Apple over patent infringements.
PHILANTHROPY: Has passion for children, health and poverty alleviation. Started foundation to help hospitals achieve zero preventable deaths. Close relationship with both Joe Biden and Bill Clinton.