86th richest man in the world now Cyrus Poonawalla aka “Vaccine King”

The ‘Vaccine king’ Cyrus Poonawalla’s wealth has grown the fastest. Standing at nearly $15 Billion US Dollars. Amongst the Indian billionaires and fifth fastest in the world during the COVID-19 Pandemic.

86th richest man in the world is now the ‘Vaccine king’ Cyrus Poonawalla’s. Standing at nearly $15 Billion US Dollars. Amongst the Indian billionaires and fifth fastest in the world during the COVID-19 Pandemic. Because of the strong business potential of his company, Serum Institute of India.

Going Up In Riches

Poonawalla has moved up to the 86th richest man.Which is as of 31st May, 2020. Moreover, he experience a 25 %  in his net worth during the four months of the pandemic, the report said.

The Pune-based entrepreneur’s unlisted company is already the largest vaccine manufacturer in the world. And the net worth has been helped by vaccine distribution and manufacturing potential of his business, it added.

Recently, Serum catered an agreement with Astra Zeneca to manufacture 1 billion doses of Corona Virus Vaccine. That was being developed by Oxford University.

However, Mukesh Ambani continues to hold the number one title as the wealthiest Indian. After sharp losses in the first two months on market rout. But, the next two months saw a USD 18 billion surge in his fortune. Which was on the back of over ₹1.69 Lakh Crore worth of deals. Struck by Reliance Industries in selling stakes in its telecom arm.

However, despite the late surge, his wealth was down 1 per cent as compared to the pre-COVID levels. Ambani saw a “V-shaped recovery” in his wealth, wherein the net worth plummeted during the first two months. And made up nearly all the losses in the next two months. Despite the net worth being marginally lower. Ambani climbed up one place to be the eighth richest person in the world as of May 2020.

Although, Jeff Bezos continues to be at the top of the list of the world’s richest individuals. With a 14 % gain in his fortune to USD 160 billion.

 

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