Nine New Vaccine Billionaires
COVID vaccines create 9 new billionaires with combined wealth greater than cost of vaccinating world's poorest countries
The People's Vaccine Alliance recently shed light on a disconcerting trend emerging amidst the global battle against COVID-19. The alliance revealed that at least nine individuals have ascended to billionaire status, reaping the rewards of pharmaceutical corporations' monopolies on COVID vaccines. This revelation comes as countries grapple with vaccine shortages, particularly affecting nations like India and Nepal, where only a fraction of the population has received vaccinations.
The newly-minted billionaires, led by the CEOs of Moderna and BioNTech, boast a combined net wealth of $19.3 billion. Astonishingly, this amount surpasses the cost required to fully vaccinate all individuals in low-income countries 1.3 times. Such an inequity is glaring when considering that these countries, home to 10% of the global population.
Eight existing billionaires, with extensive holdings in COVID-19 vaccine pharmaceutical corporations, have seen their combined wealth increase by $32.2 billion. This s…
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