Kenneth Frazier, one of America’s prominent Black executives, has witnessed a significant increase in the market value of his stake in Merck & Co. attributed to the sustained rise in the share price of the American multinational pharmaceutical company.
According to data tracked by Billionaires.Africa, Frazier — recognized as one of America’s prominent Black executives — has seen the market value of his stake in Merck increase by $3.98 million over the past 29 days.
The recent surge follows a $4 million gain recorded between April 16 and 26, when the market value of his stake climbed from $88.19 million to $92.19 million, driven by a rebound in the shares of the New Jersey-based pharmaceutical company.
Merck stock rises 4.51 percent, pushing market cap above $330 billion
Merck remains a leader in the pharmaceutical industry, offering a diverse portfolio of prescription drugs, vaccines, biological therapies, animal health products, and consumer healthcare solutions. The company operates through three segments: Pharmaceutical, Animal Health, and Other.
Over the last 29 days, its shares on the New York Stock Exchange (NYSE) have risen by 4.51 percent, from $125.23 on April 18 to $130.88 at the time of drafting this report, propelling the company’s market capitalization above $330 billion.
Frazier’s stake in Merck grows by $3.98 million amid share price increase
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 $92.30 million.
The single-digit rise in the shares of the American multinational pharmaceutical company has accrued a $3.98-million gain to the market value of Frazier’s stake in the last 29 days, growing from $88.31 million on April 18 to $92.30 million.
Merck’s share price surge underscores Frazier’s adept leadership, establishing him as one of the wealthiest Black executives in the U.S. The company’s dedication to innovation and sustainable healthcare solutions continues to draw investor interest.
