Covid Billionaire’s Outsized Gains Crumble

The Covid-19 pandemic minted fortunes. Moderna’s vaccine propelled scientist Stephane Bancel’s net worth to $15 billion. Eric Yuan, denied a US visa eight times before moving from China, watched his fortune hit $29 billion as Zoom became the world’s go-to video-conferencing tool. And the father-son duo behind online used-car seller Carvana amassed a $32 billion fortune at the peak.

But now things are changing. Some 58 billionaires whose net worth soared because of how the Covid-19 pandemic changed everything have seen their fortunes erode now that the world is learning how to live with the virus.