Robert Duggan: A Visionary Entrepreneur’s Journey from Surfer to Biotech Billionaire

Robert W. “Bob” Duggan, born in 1944 in Oakland, California, is a distinguished American entrepreneur, philanthropist, and investor. His remarkable journey from a high school surfer to a billionaire in the biotechnology sector underscores his innovative spirit and commitment to advancing medical science.

Duggan’s entrepreneurial journey commenced in the mid-1960s during his time at the University of California, Santa Barbara. He began investing in Ethernet companies, laying the foundation for his future ventures. In 1976, alongside his brother-in-law, Dan Patterson, Duggan co-founded Cookie Muncher’s Paradise, a bakery that expanded into a gourmet sandwich chain known as Paradise Bakery, boasting 16 locations by 1987. They sold the business for approximately $6 million.

In 1980, Duggan acquired a majority stake in Communication Machinery, an Ethernet company, which he sold to Rockwell International in 1988 for $40 million. From 1986 to 1994, he served on the board of Government Technology Services, a major federal government vendor. In 1990, Duggan became chairman and CEO of Computer Motion, a robotic surgery company. Under his leadership, the company developed the first FDA-approved robotic surgery system. In 2003, Computer Motion was sold to Intuitive Surgical for $67 million in stock, with Duggan later selling his stake for over $150 million.

Duggan has been a significant philanthropist, contributing to various educational and cultural initiatives. He has served on the board of trustees at UCSB and funded programs such as athletic departments and faculty chair positions. He has also made foundational donations to new departments like the Institute for Energy Efficiency and the XIV Dalai Lama Chair in Tibetan Buddhism and Cultural Studies.

An avid surfer, Duggan began surfing in Santa Cruz, California, and later traveled to Hawaii and countries such as Costa Rica, Nicaragua, and Mexico. His children have often accompanied him, learning their early surfing skills as young as three years old.

As of January 2025, Duggan’s net worth is estimated at $16 billion. His wealth is primarily derived from his substantial holdings in Summit Therapeutics, a biopharmaceutical company where he serves as CEO. In December 2024, Duggan purchased $972,343 worth of stock in Pulse Biosciences, a company specializing in medical devices and technologies. This investment underscores his confidence in the company’s prospects.

Duggan’s leadership at Summit Therapeutics has been marked by significant advancements. The company has developed a new drug for lung-related diseases, resulting in a 1,000% increase in stock prices compared to the previous year. This achievement highlights Duggan’s ability to drive innovation and success in the biotech industry.

Robert Duggan’s journey from a high school surfer to a billionaire entrepreneur exemplifies his innovative spirit and dedication to advancing medical science. His significant contributions to the biotechnology sector, coupled with his philanthropic endeavors, underscore his lasting impact on both industry and society.