Covid vaccine rollout produced nine new billionaires
May 20, 2021 - Profits from Covid-19 jabs have helped at least nine people become billionaires, a campaign group says, calling for an end to pharmaceutical corporations’ “monopoly control” on vaccine technology.
According to a study from the People's Vaccines Alliance, Moderna’s CEO Stéphane Bancel and BioNTech’s CEO Ugur Sahin, each with a wealth of $4.3bn and $4bn respectively, topped the list of new billionaires cashing in on the success of COVID vaccines.
The list also includes two of Moderna’s founding investors and the firm’s chair as well as the CEO of a company with a deal to manufacture and package the Moderna jab, despite Moderna receiving billions in taxpayer funding.
The final three new vaccine billionaires are all co-founders of the Chinese vaccine company CanSino Biologics.
The news comes ahead of the G20 Global Health Summit, where key members, including leaders from the UK and Germany are seeking to block moves to boost supply by ending firms’ monopoly control of vaccine production.