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COVID billionaire fortunes fade as vaccines rolled out


February 24, 2021 | 5:19 pm
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Latex gloves on hand-shaped molds move along an automated production line at a Top Glove Corp. factory in Malaysia in 2020. PHOTO BY SAMSUL SAID/BLOOMBERG
IN THE HEALTH-CARE industry, the coronavirus pandemic led to big fortunes, fast. Now some of them are evaporating just as quickly.
Take Seegene, Inc., a maker of COVID-19 test kits, and Alteogen, Inc., a biotech with subcutaneous-injection technology. Their founders became billionaires as the shares surged last year. Fast forward a few months to the vaccine rollout, and they’ve lost their title after both stocks sank more than 41%, according to the Bloomberg Billionaires Index. ....

Soult Ukpyolsi , South Korea , South Korean , Donald Trump , Jeff Bezos , Nirgunan Tiruchelvam , Forrest Li , Chun Jong Yoon , Lim Wee Chai , Li Xiting , Skim Sim , Mindray Bio , Top Glove Corp , Electronics Co , Video Communications Inc , Allmed Medical Products Co , Riverstone Holdings Ltd , Guangzhou Wondfo Biotech Co , Alteogen Inc , Supermax Corp , Hartalega Holdings Bhd , Pfizer Inc , Kossan Rubber Industries Bhd , Moderna Inc , Sea Ltd , Seegene Inc ,

With vaccine rollout, fortunes of these covid billionaires are fading away

With vaccine rollout, fortunes of these covid billionaires are fading away
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

Soult Ukpyolsi , South Korea , South Korean , Donald Trump , Jeff Bezos , Nirgunan Tiruchelvam , Forrest Li , Chun Jong Yoon , Lim Wee Chai , Li Xiting , Skim Sim , Mindray Bio , Top Glove Corp , Electronics Co , Video Communications Inc , Allmed Medical Products Co , Riverstone Holdings Ltd , Guangzhou Wondfo Biotech Co , Alteogen Inc , Supermax Corp , Hartalega Holdings Bhd , Pfizer Inc , Kossan Rubber Industries Bhd , Moderna Inc , Seegene Inc , Sea Ltd ,

These Covid Billionaire Fortunes Are Fading With the Vaccine Rollout


These Covid Billionaire Fortunes Are Fading With the Vaccine Rollout
Bloomberg
2/24/2021
Yoojung Lee
(Bloomberg) In the health-care industry, the coronavirus pandemic led to big fortunes, fast. Now some of them are evaporating just as quickly.
Take Seegene Inc., a maker of Covid-19 test kits, and Alteogen Inc., a biotech with subcutaneous-injection technology. Their founders became billionaires as the shares surged last year. Fast forward a few months to the vaccine rollout, and they’ve lost their title after both stocks sank more than 41%, according to the Bloomberg Billionaires Index.
It’s a similar story for glovemakers in Malaysia, which counted at least five industry billionaires by August as the worsening health crisis increased demand for the protective gear. Despite a brief rebound amid last month’s frenzy in retail trading, their shares are down at least 40% since hitting highs, wiping more than $9 billion from their foun ....

Soult Ukpyolsi , South Korea , South Korean , Donald Trump , Jeff Bezos , Kiyoshi Ota Bloomberg , Nirgunan Tiruchelvam , Forrest Li , Chun Jong Yoon , Lim Wee Chai , Li Xiting , Skim Sim , Mindray Bio , Takeshi Niinami , Top Glove Corp , Suntory Holdings , Video Communications Inc , Riverstone Holdings Ltd , Guangzhou Wondfo Biotech Co , Supermax Corp , Hartalega Holdings Bhd , Bloomberg Suntory Holdings , Pfizer Inc , Kossan Rubber Industries Bhd , Moderna Inc , Sea Ltd ,