Kenneth Frazier, one of America’s prominent Black executives – has witnessed a significant increase in the market value of his stake in Merck & Co. – driven by the recent rise in the share price of the American multinational pharmaceutical company.
Formerly serving as the executive chairman and CEO of Merck & Co. Frazier has seen his stake in the New-Jersey-based pharmaceutical giant increase by $11.23 million since the year began, reflecting heightened investor interest in the company.
Frazier, who led Merck through a successful decade as CEO, received a total compensation package of $8.5 million from the U.S. pharmaceutical company in 2022 — marking a 78.6-percent decline from the previous year’s salary of $15.2 million.
Merck & Co. sees a 14.6-percent increase in share price, market cap surpasses $315 billion
Founded in 1891, Merck & Co., Inc. is a healthcare company based in New Jersey. It focuses on providing health solutions through prescription medicines, vaccines, biological therapies, animal health, and consumer care products. The company operates in three segments: Pharmaceutical, Animal Health, and Other.
Year-to-date, Merck & Co’s shares on the New York Stock Exchange have risen by 14.6 percent, climbing from $109.02 on Jan. 1 to $124.94 as of the current date. This positive trend has propelled the company’s market capitalization above $315 billion, delivering significant gains to its shareholders, including Frazier.
Frazier’s stake in Merck & Co. soars above $88 million amid recent share price surge
Frazier, who ranks as one of America’s top Black executives, holds a minority stake of 0.028-percent stake in Merck & Co., equivalent to 705,220 shares with a present value of $88.11 million.
According to data tracked by Billionaires.Africa reveals that the market value of Frazier’s stake in Merck & Co. has risen by $11.23 million since the beginning of the year, moving from $76.88 million on Jan. 1 to $88.11 at the time of drafting this report.
The recent upswing in Merck & Co. share price underscores Frazier’s strategic leadership and the company’s commitment to innovation and sustainable healthcare solutions, which continue to attract investors.