Moderna millionaires and the double-edged sword of stock market riches

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Moderna’s top executives and early investors have become astoundingly rich, even after last week’s pounding, which illustrated just how transitory stock market wealth can sometimes be. Cofounder Robert Langer holds a stake worth nearly $2.8 billion, while CEO Stephane Bancel controls $5.3 billion of stock, plus options that were valued at $1.2 billion at the end of last year.

But the new wealth doesn’t stop there. A significant swath of Moderna‘s 2,400 employees owns shares through its stock purchase plan. The company also has issued options and share grants to employees and others that have a combined paper profit of $8 billion.

“The number of millionaires [at Moderna], at least on paper, has got to be through the roof,” said Tony Mullin, a biotech human resources executive with knowledge of compensation levels throughout the industry.

Mullin witnessed the stock wealth effect in action when his former company, Watertown’s Pandion…

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