Black executive Kenneth Frazier's Merck stake surges above $90 million

Feyisayo Ajayi -

Key Points:

  • Kenneth Frazier’s Merck stake rebounds, now valued over $90 million, reflecting recent stock price gains.
  • Merck’s stock surges nearly 5%, pushing market cap above $330 billion, bolstered by strong pharmaceutical and healthcare offerings.
  • Frazier sees a $4.36 million increase in his Merck stake, now totaling $92.18 million, driven by Merck’s 19.90% YTD share price surge.

Kenneth Frazier, one of America’s leading Black executives, has seen the market value of his Merck & Co. stake rebound above $90 million, reflecting impressive gains in recent weeks due to the recent surge in the company’s stock price.

According to data tracked by Billionaires.Africa, Frazier, who ranks among America’s richest Black executives, has seen the market value of his stake in Merck increase by $4.36 million over the past 25 days to $92.18 million. This recovery follows a decline of $3.7 million between May 22 and May 29, when his stake fell from $92.45 million to $88.75 million.

Merck’s stock jumps nearly 5%, market cap hits $330 billion

Merck remains a top player 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 segments.

Recently, Merck’s share price on the New York Stock Exchange surged by 4.97 percent, climbing from $124.53 on May 30 to $130.72. This upward trend has pushed the company’s market capitalization above $330 billion, generating significant profits for investors like Frazier.

Merck stock surge boosts Kenneth Frazier’s stake by $4.36 million

Kenneth Frazier, a top Black executive in the United States, holds a 0.028 percent stake in Merck & Co., equivalent to 705,220 shares valued at over $90 million. With Merck’s recent stock surge, Frazier’s stake rose from $87.82 million on May 30 to $92.18 million today, marking a $4.36 million gain in 23 days. The increase highlights Frazier’s enduring investment and Merck’s appeal to investors with its focus on innovation and sustainable healthcare solutions.

Your Money and Your Life

Merck’s impressive performance is just one example of the many companies delivering strong returns to investors year-to-date. The company’s shares on the NYSE have surged 19.90 percent year-to-date, signifying that a $100,000 investment at the start of the year would now be worth $119,900, representing a gain of $19,900.