Moderna COVID-19 Vaccine Profits Boost Executives To Richest Americans List

Three people at the head of Moderna, the pharmaceutical company behind one of the three COVID-19 vaccines currently being administered in the United States, have been listed on Forbes’ list of 400 wealthiest people in the country.

Noubar Afeyan, co-founder and current chairman of the biotech company, landed in the 212th spot on Forbes magazine’s list of 400 richest people in the U.S. with a net worth of $5 billion.

Robert Langer, co-founder and board member, secured the 22nd spot with a net worth of $4.9 billion, while investor Timothy Springer hit the 176th spot with a net worth of $5.9 billion.

Moderna’s profits from its COVID-19 vaccine have helped the company’s shares skyrocket over the past year. The pharmaceutical company logged $19.2 billion in vaccine sales, according to its fiscal year report published in May.

“In the first quarter, the Moderna team delivered on its supply commitments to many governments and helped protect more than 100 million people. This accomplishment translated into our first profitable quarter in the company’s history, after 10 years of scientific innovation and several billion dollars invested to make our mRNA platform a reality,” Stephanie Bancel, Moderna’s CEO, said in the report.

Moderna, which was founded in 2010, currently has the COVID-19 vaccine as its only commercial product. The vaccine, for which the U.S. government provided $1 billion funding to support its development, boosted the company’s valuation to $100 billion over the summer, according to The New York Times.

Forbes’ latest list also featured the names of many billionaires in finance, tech and health care. However, it also booted off some big names, including former President Donald Trump whose net worth plunged by $1.2 billion, from $3.7 billion when he was elected in 2016 to his current $2.5 billion.

Trump missed a spot on the list by $400 million after the magazine increased its minimum net worth required to make the 2021 list to $2.9 billion.

This was the first time that Trump was not included in the list in 25 years. Prior to this year, the former president consistently secured a spot in the top half of the list from 1997.