The corona virus has claimed the lives and livelihood of many for the past two years, be it for the disease itself or for the stringent regulations that have led to large scale unemployment. While the onset of the Covid-19 pandemic has been devastating for many in a million ways, the people in the pharmaceutical and related businesses have made a lot of money in this ensuing situation. Major vaccine and drug makers of the world have seen a large wealth increase.
here is a list of 8 vaccine billionaires whose wealth increased by a billion dollar since start of Covid-19.
1. Jiang Rensheng and Family
He is a Chinese businessman and the chairman of Chongqing Zhifei Biological products Co. which is majorly a producer of vaccines and is credited for developing tuberculosis and Covid-19 vaccines to be sold all over the country. His company became to be publicly traded since 2010. In this ensuing pandemic situation, his net worth increased from $7.6 billion in 2020 to a whooping $24.4 billion in 2022.
2. Cyrus S. Poonawalla
He is an Indian businessman who is the owner and chairman of the Poonawala group which owns Serum Institute of India, the country’s largest and leading biotech company that develops and manufactures vaccines. Serum Institute of India partnered with the multinational pharmaceutical company AstraZeneca in 2020 and developed the ‘Covishield’ vaccine. Poonawala saw a wealth increase from $8.20billion in 2020 to $12.70billion by 2021.
3. Tse Ping
Ping is the founder and became an executive director of Sino Biopharmaceutical after he stepped down from the position of CEO to make way for his daughter. He is a Chinese national who was born in one of the most influential families of Asia, the Dhanin family. Today his company is listed in the Hong Kong stock exchange and is a major player in the pharmaceutical industry making chemical medicines as well as vaccines. His net worth increased from $7.30 billion in 2020 to $8.90 billion in 2021.
4. Wu Guanjiang
Guanjiang is the founder of China based vaccine manufacturing company, Chongqing Zhifei Biological products and he currently owns a little less than 10 percent stake in the company. His company developed the ZF2001 vaccine while working closely with Institute of Microbiology of Chinese Academy of Sciences (ICMAS) which is now in the last stage of clinical trials. His net worth increased from $1.8 billion in 2020 to $5.1 billion by 2021.
5. Thomas Struengmann and Family
He is a German businessman and the twin brother of Andreas Streungmann and is also the founder of Hexal AG which is one of the largest generic drug making companies in the world. He sold Hexal AG to Novartis in 2005. He also owns a major stake at BioNtech SE, a German firm that collaborated with Pfizer Inc. to develop a vaccine against Covid-19. He was worth $9.6 billion in 2020 but in 2021 he is worth $11 billion, thanks to his stake in BioNtech SE.
6. Andreas Struengmann and Family
He is the twin brother to Thomas Streungmann and co-founded the firm Hexal AG along with him. The brothers have been in the same business throughout their careers and now reside in Tennessee and South Africa. Andreas’s net worth as of 2020 was $9.6 billion and similar to his brother he is also worth around $11 billion as of 2021.
7. Pankaj Patel
Patel is an Indian businessman and billionaire and is also the chairman of Cadila Healthcare, the fifth largest pharmaceutical company in the country. He is a holder of bachelor and master degrees in pharmacy from Gujarat University and also serves as the president of FICCI since 2017. His firm also manufactures drugs such as Remdesivir for the treatment of covid patients and their vaccine XyCov-D is undergoing clinical trials. His net worth jumped from $2.9 billion in 2020 to $5 billion in 2021.
8. Patrick Soon Shiong
He is a billionaire businessman and a transplant surgeon of South African-American descent who founded Immunity Bio, a life sciences company of which’s Covid-19 vaccine code named hAd5 is undergoing clinical trials in South Africa. His wealth increased from $6.4 billion in 2020 to $7.5 billion as of 2021.