Ronda Stryker, who owns more than 7% of medical device manufacturer Stryker Corporation, has surpassed Oprah Winfrey on the list of global billionaires, with an estimated worth of $3.4 billion. Stryker’s father founded the company in 1941, and her younger brother also makes the list of world billionaires.
Stryker recently sold hundreds of thousands of shares of the company, which has seen a decline in stock since agreeing to pay more than $1.4 billion to settle faulty hip replacement lawsuits. The company faced thousands of Stryker lawsuits alleging that its Rejuvenate and ABG II metal-on-metal hip replacements caused severe injuries.
Stryker issued a hip implant recall in 2012 for its Rejuvenate and ABG II devices, but thousands of patients had already received potentially harmful hip replacements. Most patients who suffered Stryker side effects underwent revision surgery to correct complications, which include tissue damage and toxic levels of metal in the blood stream.