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Kenneth Frazier, one of America’s leading Black executives, has watched his investment in Merck & Co. climb by over $7.4 million thanks to the recent surge in the company’s stock price. This boost has pushed his holdings past $90 million.
Former CEO and executive chairman of Merck & Co., Frazier’s stake in the New Jersey-based pharmaceutical giant has risen by $7.41 million in the last 13 days to reach $93.05 million, reflecting increased investor interest.
This $7.4-million uptick in the market value of Frazier’s stake in the top pharmaceutical company follows a period of decline, during which his holdings dipped by $6.4 million between Feb. 23 and Mar. 15.
Merck & Co. shares surge 8.65 percent, market cap hits $330 billion
Merck & Co. Inc., a New Jersey-based healthcare company founded in 1891, delivers health solutions through prescription medicines, vaccines, biologics, animal health, and consumer products.
Its share price on the New York Stock Exchange has surged 8.65 percent in recent times, jumping from $121.44 on March 18 to $131.95. This upward trend has pushed the company’s market capitalization above $330 billion, generating significant profits for investors like Frazier.
Frazier’s investment in Merck & Co. surges above $90 million amid recent rally
Kenneth Frazier, a prominent Black executive in the United States, holds a 0.028-percent stake in Merck & Co., which is currently valued at more than $90 million.
According to data tracked by Billionaires.Africa, the market value of Frazier’s stake in Merck & Co. has increased by $7.41 million over the past 14 days, rising from $85.64 million on March 18 to $93.05 million at the time of drafting this report.
The recent surge in Merck & Co.’s stock price highlights Frazier’s continued presence as a shareholder and the company’s dedication to innovation and sustainable healthcare solutions, which continue to attract investors.
