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Moderna CEO says he'll give away most of his estimated $4.1 billion fortune

·2 min read
Stephane Bancel, CEO of Moderna
Stephane Bancel, CEO of Moderna.Nancy Lane/MediaNews Group/Boston Herald
  • Moderna's CEO said he plans to donate the bulk of his wealth, Bloomberg reported.

  • Stephane Bancel is worth $4.1 billion, according to Bloomberg Billionaire's Index.

  • Bancel said he plans to focus on issues including healthcare and global food security.

Stephane Bancel, Moderna's CEO, said he is planning to join several other philanthropic billionaires in donating the bulk of his wealth to charity.

Bancel told Bloomberg during a Davos gathering that he was turning his attention to charitable efforts in areas like healthcare and global food security.

The billionaire said his children would get a good education and the family house, "but the rest we're going to give away," Bloomberg reported.

The decision to donate a large majority of his wealth aligns him with billionaires such as MacKenzie Scott and Bill Gates. Insider previously reported that the Bill and Melinda Gates Foundation had an endowment of $49.8 billion as of 2019. MacKenzie Scott, who became one of the world's richest women after her divorce from former Amazon CEO Jeff Bezos, has also pledged to give away most of her fortune.

Bancel said he plans to sell some Moderna shares and exercise his stock options to generate the donation money. Doing this could create about $355 million for charity, he told Bloomberg. He also said he's interested in doing more to tackle the climate crisis, per the outlet.

Bancel holds a 5.4% stake in Moderna and is worth about $4.1 billion, according to Bloomberg Billionaire's Index.

In a separate interview at Davos, Bancel said: "We don't need a lot of money, and we want to use the money to help suffering in the world."

Read the original article on Business Insider

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