The pandemic minted 50 new billionaires in the healthcare sector

Dozens of health professionals making vials, vaccines, and other treatments for COVID-19 became billionaires in 2020.

Sharp suits defined the rise of Wall Street, while hoodies and Patagonia vests were a sign of Silicon Valley’s riches.

The pandemic minted 50 new billionaires in the healthcare sector

Well, now it’s the lab coat’s time to shine.

According to Forbes, there were 50 new billionaires — scientists, researchers, and doctors — in the healthcare sector this year.

The majority of these billionaires are from China…

… the site of the COVID-19 outbreak and home to more than 30 new “3-comma club” members.

Here are other notable members:

  • The team behind Pfizer’s vaccine: Uğur Şahin (net worth = $4.2B) — a Turkish physician — founded Germany-based BioNTech in 2008 with his wife, Özlem Türeci, the company’s chief medical doctor. The team partnered with Pfizer on a vaccine.
  • The Moderna team: Three billionaires were minted from the other major vaccine. Stéphane Bancel ($4.1B) is the CEO, while Timothy Springer ($2.0B) and Robert Langer ($1.5B) are professors at Harvard and MIT, respectively, who both made early investments in Moderna.
  • The vial maker: Stevanato Group is “the world’s second-largest producer of glass vials and a prominent supplier of vials for more than 40 Covid-19 vaccines.” Its president, Sergio Stevanato, is worth $1.8B
  • The lab man: From antibody tests to vaccine trials, Cincinnati-based Medpace does it all. Its founder and CEO, August Troendle, is worth $1.3B.
Topics: Healthcare

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