Current Events

How the Fat Covid-Cow Gets Milked

New Vaccine Billionaires Gain Wealth as Moderna and BioNTech Shares Soar. The surge in shares of BioNTech has created $4 billion in added wealth for its CEO and founder, Ugur Sahin.

Ugur Sahin, CEO of BioNTech.

The ordinary peoples of the world look on aghast at the feeding frenzy. Those who have the money or can borrow large amounts are rushing to invest in Covid-related corporations.

‘The coronavirus is a scam. When this absurdity ends millionaires will be billionaires.’ Dr Stefano Montenari.

The two early investors in BioNTech have done even better. German twins Thomas and Andreas Strungmann both have added $8 billion to their net worths this year. Moderna CEO Stephane Bancel has gained $4.8 billion in wealth this year, giving him a net worth of $5.3 billion.

The soaring shares of vaccine makers have created a new wave of billionaires, raising questions about pandemic profiteering amidst an increasingly unequal recovery. The well-paid political elite, responsible for creating the lockdown conditions essential to fuel the scam are milking the covid-cow till it dries.

The surge in shares of Biotech, the German biotech firm that’s partnering with Pfizer on its vaccine, has created $4 billion in added wealth for its CEO and founder, Ugur Sahin. He is now the 451st richest person in the world, according to the Bloomberg Billionaire’s Index, with $5.5 billion.

The two early investors in BioNTech have done even better. German twins Thomas and Andreas Strungmann both have added $8 billion to their net worth this year, making each worth about $12.7 billion.

The contrast between drug founders making billions from a vaccine while millions of Americans remain out of work and suffering the health effects of the pandemic has led to criticism.

‘No one begrudges the drug companies for making a reasonable profit on this vaccine,’ said Chuck Collins, director of the Program on Inequality and the Common Good at the Institute for Policy Studies and author of the book ‘Billionaire Bonanza 2020.’ ‘But having some profiteers grab billions while the essential workers risk their lives, health and livelihoods undermine the deep solidarity and shared sacrifice for us to weather this winter of pain.’

Moderna, the Massachusetts-based drugmaker that is also developing a vaccine, has seen its shares increase more than eight-fold this year and has minted at least three new billionaires. CEO Stephane Bancel has gained $4.8 billion in wealth this year, giving him a net worth of $5.3 billion. According to regulatory filings, he has also cashed out of nearly $30 million in stock this year.

In this Nov. 14, 2017, file photo, Stephane Bancel, chief executive officer of Moderna Therapeutics Inc., stands for a photograph at the company’s office in Cambridge, Massachusetts.
Portrait of Robert Langer in his Cape Cod residence in North Falmouth, MA on April 25, 2020.

Harvard biology professor Tim Springer, who made a $5 million investment in Moderna to help launch the company in 2010, has gained more than $2 billion in wealth from Moderna’s rise. And MIT professor Robert Langer has become a billionaire, with over $1.5 billion in gains from Moderna. Source

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