Billionaire Twins Cut Bet on Covid Vaccine Maker After 550% Gain
- Struengmann brothers are selling part of their BioNTech stake
- German siblings first bet on firm as seed investors in 2008
BioNTech’s Covid-19 vaccine production laboratory in Marburg, Germany.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
The twin brothers behind one of the world’s biggest pharmaceutical fortunes are cutting their major holding in a maker of Covid-19 vaccines as demand for the shot wanes.
An investment firm for Thomas and Andreas Struengmann disclosed sales of about $110 million of BioNTech SE shares this year and filed last month to offload almost double that sum in one of the billionaires’ biggest selling sprees for the New York-listed stock, according to regulatory disclosures.