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.

December 29, 2020

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

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.

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