The Strategist

BioNTech, Moderna heads become billionaires

12/25/2020 - 03:04

Heads of pharmaceutical companies BioNTech and Moderna have been included in Forbes' list of 50 new billionaires. They made their fortunes in healthcare amid the coronavirus pandemic, according to the publication's website.

Armin Kübelbeck
Armin Kübelbeck
There are 50 new billionaires in the healthcare sector in 2020, according to Forbes. Their fortunes were boosted by the strong growth of the stock market, with investors investing in companies developing vaccines, treatments and various medical devices.

"The most notable newcomers of the year are the scientists who created the two most successful vaccines against the coronavirus... and whose net worth has risen sharply since January: Stéphane Bancel (CEO of American Moderna) and Uğur Şahin (CEO of German BioNTech)," writes the publication. According to Forbes, the wealth of BioNTech CEO now stands at USD 4.2 billion. Stéphane Bancel's wealth is $4.1 billion.

The list also includes Yuan Liping, the former wife of the chairman of Shenzhen Kangtai Biological Products, one of China's leading vaccine manufacturers. Her wealth is estimated at $4.1 billion. Next up is Hu Kun, head of Contec Medical Systems, a Chinese medical device company, with a fortune of $3.9 billion.

Many pharmaceutical companies are keen to introduce the most effective treatments for the coronavirus and prevent infection. In late November, Moderna reported that its coronavirus vaccine showed 94.1% efficacy in an initial analysis, and was 100% effective in severe cases of COVID-19. BioNTech and Pfizer reported in November a successful phase III clinical trial of the vaccine, in which it was shown to be more than 90% effective in preventing infection with COVID-19.