New vaccine billionaires gain wealth as Moderna, Pfizer shares soar

New vaccine billionaires gain wealth as Moderna, Pfizer shares soar

The soaring shares of vaccine makers has created a new wave of billionaires, raising questions about pandemic profits amidst an increasingly unequal recovery.

The surge in shares of BioNTech, the German biotech firm that’s partnering with Pfizer on its vaccine, has created $4 billion in added wealth for its CEO and founder, Ugur Sahin. He is now the 451st richest person in the world, according to the Bloomberg Billionaire’s Index, with $5.5 billion.

The two early investors in BioNTech have done even better. German twins Thomas and Andreas Strungmann both have added $8 billion to their net worths this year, making each worth about $12.7 billion.

The contrast between drug founders making billions from a vaccine while millions of Americans remain out of work and suffering the health effects of the pandemic has led to criticism.

READ THE FULL STORY: New vaccine billionaires gain wealth as Moderna, Pfizer shares soar

 

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