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<ul><li>Zhong Huijuan, an ex-chemistry teacher has become Asia’s wealthiest self-made woman — with a fortune worth $10.5 billion. </li><li>This fortune came from a sudden surge in the shares (37%) of the Hansoh Pharmaceutical Group. Zhong has a 68% stake in the company. </li><li>Zhong surpassed her husband in terms of wealth — the couple is now one of the richest pharma families in the world.</li></ul>Zhong Huijuan, a 58-year-old ex-chemistry teacher, became the wealthiest<a href="https://www.bloomberg.com/news/articles/2019-06-14/ex-chemistry-teacher-becomes-richest-self-made-woman-in-asia"> self-made woman</a> in Asia, and the second-richest woman in Asia after Yang Huiyan, the co-chairman of Country Garden Holdings. According to Bloomberg Billionaires Index, Huijuan is worth $10.5 billion — thanks to her investments in Hansoh Pharmaceutical Group. In 1995, Zhong ventured into the drug business Hansoh, quitting her teaching profession. The transition has paid off, very well. Hansoh Pharmaceutical Group is presently China’s largest psychotropic drug maker. On Friday, the sudden surge in shares — 37% — of the pharmaceutical company, made her the wealthiest self-made woman in Asia. Her stake in the company is at<a href="http://www.newindianexpress.com/good-news/2019/jun/15/ex-chemistry-teacher-becomes-richest-self-made-woman-in-asia-with-105-billion-fortune-1990622.html"> 68%</a> — which added $7.9 billion to her fortune. Zhong surpassed her husband Sun Piaoyang in terms of wealth — who is worth $9.2 billion — he earned in Jiangsu Hengrui Medicine Co, also a drug manufacturer. This recent surge has made the couple one of the <a href="https://www.scmp.com/business/companies/article/3014265/ex-chemistry-teacher-zhong-huijuan-poised-become-chinas-third">richest pharma families</a> of the world. They are now in close competition with Mortimer and Raymond Sackler of Purdue Pharma, which manufacturers <a href="https://www.jta.org/2019/05/22/united-states/who-are-the-sacklers-the-family-at-the-center-of-the-opioid-crisis">OxyContin</a>. Also in the list are Sweedish Bertarelli family which earned $16.3 billion fortune from drugs and pharmaceuticals. The government of China has contributed largely to Zhong’s success. Last year, the country’s healthcare spending<a href="https://www.straitstimes.com/asia/east-asia/chemistry-teacher-who-founded-pharma-firm-now-worth-108-billion"> increased to 5.9 trillion yuan </a>($852 billion) from 3.5 trillion yuan in 2014. According to the All China Women’s Foundation, Zhong used to teach Chemistry in a middle-school in the 1990s — which she quit to get into the drug business. The company is into cancer treatment, research and production of drugs for the treatment of diabetes, cardiovascular diseases. See also: <a href="https://www.businessinsider.in/meet-the-top-10-richest-women-in-the-world/articleshow/68318378.cms">Meet the top 10 richest women in the world</a> <a href="https://www.businessinsider.in/india-origin-reuben-singh-who-flaunted-his-rolls-royce-elite-cars-matching-the-turban/articleshow/67845309.cms">Meet Reuben Singh who has stormed the Internet with fancy pictures of his elite cars and is dubbed ‘Europe’s Bill Gates’</a> <a href="https://www.businessinsider.in/if-mackenzie-bezos-gets-half-of-jeff-bezos-fortune-shed-become-the-fourth-richest-person-in-the-world-160and-hed-fall-from-no-1/articleshow/67477846.cms">If MacKenzie Bezos gets half of Jeff Bezos' fortune, she'd become the fourth-richest person in the world - and he'd fall from No. 1</a>

How a chemistry teacher became Asia's richest woman worth $10.5 billion

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Evan Vucci/APPresident Donald Trump has been overtaken on Forbes' list of billionaires by a 24-year-old pharmaceuticals heir.</div></div></div><ul><li>A 24-year-old who parties with celebrities became richer than Donald Trump overnight after his parents gifted him a stake in their pharmaceuticals company worth about $3.8 billion, <a href="https://www.bloomberg.com/news/articles/2019-10-23/son-gifted-3-8-billion-by-parents-wants-to-avoid-rich-lists">according to Bloomberg</a>.</li><li>Eric Tse became an "insta-billionaire" after Sino Biopharmaceutical's billionaire founder and his wife gave him a fifth of the business, Bloomberg reported.</li><li>Eric's Instagram shows him posing with celebrities including Rihanna, Bella Hadid, Yao Ming, Lily Aldridge, Princess Charlene of Monaco, and Carla Bruni Sarkozy.</li><li><a href="https://www.businessinsider.com/?IR=C">Visit Business Insider's homepage for more stories</a>.</li></ul>A 24-year-old who parties with celebrities became richer than Donald Trump overnight after his parents gifted him a stake in their pharmaceuticals company worth about $3.8 billion, <a href="https://www.bloomberg.com/news/articles/2019-10-23/son-gifted-3-8-billion-by-parents-wants-to-avoid-rich-lists">according to Bloomberg</a>.Eric Tse became an "insta-billionaire" after <a href="https://markets.businessinsider.com/stocks/sino_biopharmaceutical-stock" target="_blank" rel="noopener">Sino Biopharmaceutical</a>'s billionaire founder Tse Ping and his wife, Cheng Cheung Ling, gave him a fifth of the business, Bloomberg reported. Sino also made Eric an executive director and added him to its executive board committee, complete with an annual salary of HK$3.9 million ($498,000) before bonuses, Bloomberg said.<a href="https://www.instagram.com/erictse0816/?hl=en">Eric's Instagram</a> shows him posing with music superstar Rihanna, supermodel Bella Hadid, and 7-foot-6 Chinese basketball legend Yao Ming. He's also snapped photos with Victoria's Secret model Lily Aldridge, Princess Charlene of Monaco, and Carla Bruni Sarkozy, the former First Lady of France.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.instagram.com/p/BWFkOGKDnrG/">Instagram/Eric Tse</a></div></div></div>Read more: <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-funded-spending-dc-solar-owners-2019-6-1028256755">Luxury cars, private jets, and piles of cash: Warren Buffett inadvertently funded the lavish spending of a couple accused of running an $800 million 'Ponzi-type' scheme</a>Eric's newfound wealth has catapulted him into the richest 550 people in the world, according to Forbes' <a href="https://www.forbes.com/billionaires/#450f6d01251c">latest list of billionaires</a>. He's not only passed Trump ($3.1 billion) but also Starbucks' founder Howard Schultz ($3.5 billion), and he's worth far more than Snapchat's co-founder and CEO Evan Spiegel ($2.1 billion).The overnight billionaire was born in Seattle, schooled in Beijing then Hong Kong, and graduated from the University of Pennsylvania's Wharton School with a degree in finance last year, <a href="https://www.wharton.upenn.edu/story/how-this-schwarzman-scholar-founded-the-largest-student-organized-summit-on-china-in-america/">according to an article on Wharton's website</a>. He went on to pursue a master's degree in global affairs at Beijing's Tsinghua University as a Schwarzman Scholar, the article says.Read more: <a href="https://markets.businessinsider.com/currencies/news/warren-buffett-justin-sun-timeline-crypto-lunch-china-donald-trump-2019-9-1028522523">Crypto whiz kid Justin Sun's $4.6 million lunch with Warren Buffett has sparked China conspiracies, public apologies, and an invite for Donald Trump. Here's a timeline of what's happened.</a><a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/real-map-louisiana-should-scare-you-2017-6">Most maps of Louisiana aren't entirely right. Here's what the state really looks like.</a></h3> <div> </div> </div>

'Insta-billionaire': A 24-year-old pharma heir who parties with celebrities became richer than Donald Trump overnight

<ul><li>While global uncertainties tear up investor confidence, the Nifty50 has been the best performer in Asia over the last one month.</li><li>During this period, automobile, FMCG, public sector banks and real estate companies have been the most attractive stocks.</li><li>Further, analysts believe markets will move on performance of companies and sectors in the last three months and global macro conditions.</li></ul>Indian equities have been volatile in the last couple of weeks amidst rising interest rates, global inflation and re- emergence of Covid cases – especially in China. The index has managed to outperform Asian peers in the last one month, despite global <a href="https://www.businessinsider.in/finance/news/rupee-at-80-heres-how-a-falling-rupee-could-impact-indias-current-account-deficit/articleshow/92897064.cms">uncertainties hindering </a>the index movement. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in last one month </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.69% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.95% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taiwan Tsec 50 Index </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.58% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.82% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shanghai SE Composite Index (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="5935920" type="General" weightage="20" keywordseo="bulls-vs-bears" source="Orion">Bulls vs bears</keyword> Over the last one month, automobile, FMCG, public sector banks and real estate companies have been the top gainers. “We’re seeing a tussle among the bulls and bears, not only in Indian markets but globally. A decisive close below 15,900 may change the index tone again but we feel sectors like auto and FMCG would continue to offer trading opportunities on the long side. Besides, select stocks from other sectors like pharma, realty, banking and financials are also attracting decent traction,” said Ajit Mishra, VP of research at Religare Broking. Shares of metal and IT services have been shedding value significantly in the couple of weeks due to huge sell off, while traction in FMCG and automakers due to <a href="https://www.businessinsider.in/india/news/not-just-crude-gold-silver-and-even-wheat-and-edible-oil-prices-are-going-down-in-india/articleshow/92748130.cms">fall in prices of commodities like </a>crude oil, palm crude oil (one of the key raw materials for FMCG firms), edible oil, gold, wheat, are holding the fort for <keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword>. “Metal and IT stocks might see some consolidation after a huge sell-off in them. FMCG and auto are gaining traction due to good earnings expectations and a fall in raw material prices in cases of FMCG companies. Metals and IT together contribute about 18% to the Nifty index whereas BFSI, FMCG, auto contribute more than 50% thus reducing the drag effect of metals and IT in the upcoming quarters,” Manoj Dalmia, founder and director at Proficient Equities Private told Business Insider India. Not to forget, sharp selling by foreign portfolio investors (FPIs) for 10 consecutive months continues to weigh on investor sentiment. In fact, FPIs have been selling Indian equities even more aggressively than what was witnessed during the 2008 global financial crisis. <a href="https://www.businessinsider.in/stock-market/news/are-we-worse-off-than-we-were-in-2008-foreign-investors-seem-to-think-so/articleshow/92598800.cms">The selloff in the last 12 months is twice </a>as much as that seen in 2008, when the sub-prime crisis hit the US, sinking banks, financial markets and more. The exodus of foreign investors has left a huge scar on the markets as <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> corrected nearly 8% in 2022. “On the flip side, IT and metals are still not showing any sign of reversal despite the oversold positions. Participants should align their positions accordingly and prefer a hedged approach citing the overnight risk and volatility due to the earnings season,” said Mishra. The season of earnings Further, analysts believe markets will move on performance of companies and sectors in the last three months and global macro conditions. “Markets will continue to react to global macro factors like inflation, interest rate measures, currency and commodity movement. With the start of the April-June 2022 quarter result season, we can expect stock and sector specific action over the next one month,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities. The earnings season has started on a soft tone as <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-profits-grows-at-5-hit-by-salary-hikes-talent-churn-and-travel-costs/articleshow/92751245.cms">TCS disappointed investors </a>with its modest profit growth due to added cost pressures. This has set a bad mood for the entire IT pack especially its closest peers Wipro, HCL Technologies, which have lost more than 8% of its value in the last one month. Experts say that as concerns of growing inflation and recession hang over the global economy, Indian benchmark indices are projected to remain uncertain in the near term. Investors are anticipated to keep a close watch on the currency market, as the USD/INR has reached new all-time lows of 80.23. “Further, with the earnings season in full swing, market players should avoid reading too much into India Inc's numbers and instead focus on the management commentary,” said Apurva Sheth, head of market perspectives at Samco Securities. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-president-election-news-updates-and-result/articleshow/92947791.cms">Murmu vs Sinha: Voting begins to elect the next President of India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-duty-cuts-on-edible-oil-will-offset-rupee-fall-but-it-will-widen-gap-between-healthy-and-unhealthy-choices/articleshow/92947936.cms">India’s duty cuts on edible oil will offset rupee fall but it will widen gap between healthy and unhealthy choices</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/indias-richest-women-savitri-jindals-net-worth-ballooned-by-12-billion-in-just-two-years/slidelist/92951665.cms">India’s richest women Savitri Jindal’s net worth ballooned by $12 billion in just two years</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/indias-richest-women-savitri-jindals-net-worth-ballooned-by-12-billion-in-just-two-years/slidelist/92951665.cms">India’s richest women Savitri Jindal’s net worth ballooned by $12 billion in just two years</a>

Nifty 50 remains the top performer in Asia despite tussle between bulls and bears

Welcome to <keyword id="11937554" type="UNKNOWN" weightage="60" keywordseo="10-things" source="Orion">10 Things</keyword> Before the Opening Bell.If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go – <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Let's jump in. 1. The Fed gears up for its final monetary policy decision of the year. All eyes will be on the two-day meeting of the Federal Open Market Committee kicking off today. Top of mind will be November's white-hot inflation reading, which showed prices <a href="https://www.businessinsider.com/inflation-cpi-november-prices-index-economic-recovery-supply-chain-crisis-2021-12">rising at the fastest pace in almost 40 years.</a> The pace of tapering asset purchases and the timing of interest rate increases are also on the docket. Among the Fed's top critics during the recent surge in inflation has been economist Mohamed El-Erian. He said policy makers must <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sell-dot-com-bubble-unwind-rate-hikes-2021-12">"quickly regain control" after missing the mark on inflation</a> and has previously said the central bank's prediction of "transitory" inflation is the worst call in its history. Bank of America meanwhile is predicting the Fed could raise rates as soon as this week's meeting, and has warned <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sell-dot-com-bubble-unwind-rate-hikes-2021-12">investors to sell stocks</a> before higher rates spark a dot-com style blowup.Here is a rundown of other economic data due this week:<ul><li>Producer price index data will be released today. Combined with CPI, the number will give the Fed a full picture of inflation at this week's meeting. </li><li>Retail sales data will be published on Wednesday.</li><li>Jobless claims data is due Thursday. The previous reading was the lowest since 1969.</li></ul>2. US stocks are scrabbling for a toehold, with the Fed in full focus. More of yesterday's pain for the S&amp;P 500 and Dow is on the cards, as Omicron's spread makes investors jumpy. <a href="https://markets.businessinsider.com/news/stocks/stock-markets-today-us-futures-fall-fed-decision-omicron-covid-2021-12">Here are the latest moves on the market</a>.3. Jefferies analysts explained how to pick stocks amid historic inflation. Inflation is at its highest in nearly 40 years, and Jefferies says sources of inflation are shifting. <a href="https://www.businessinsider.com/stocks-to-buy-how-to-best-investing-inflation-profit-jefferies-2021-12">These are the 38 stocks the firm recommends. </a>4. Earnings on deck: Pepco Group, Perimeter Solutions, and Pharma Foods International, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a>5. Lucid stock jumped after being added to the Nasdaq 100. Airbnb and Palo Alto Networks also joined the major tech index, while Fox and Cerner have been cut. <a href="https://markets.businessinsider.com/news/stocks/nasdaq-100-index-changes-6-stocks-added-removed-lucid-airbnb-2021-12">Here are the six stocks being added to and removed from the Nasdaq 100 this month.</a>6. JPMorgan predicts Apple's budget 5G phone to catapult the stock past a $3 trillion valuation. In response to news that the tech giant will launch its cheaper phone model in early 2022, the bank raised its price target on Apple to $210. <a href="https://markets.businessinsider.com/news/stocks/apple-market-cap-3-trillion-valuation-5g-iphone-se-sales-2021-12">The bank sees Apple making a few key moves in the new year.</a>7. Larry Ellison has made a $50 billion gain on Oracle and Tesla this year. The Oracle chairman owns about $135 billion worth of the two companies' shares — <a href="https://markets.businessinsider.com/news/stocks/larry-ellison-oracle-tesla-stock-price-gain-rich-list-billionaires-2021-12">and now he's the fifth richest person in the world. </a>8. As of Monday, 90% of all bitcoins have now been mined. That means nearly 19 million coins out of 21 million are now out on the open market. <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-90-percent-supply-mined-open-market-btc-miners-blockchain">But analysts don't expect the final 10% to be fully mined until February 2140.</a>9. The cheapest way to mine ether: A miner who's tried just about every option shares his process for mining and the tools you should get your hands on. <a href="https://www.businessinsider.com/how-to-mine-ethereum-cheapest-way-equipment-process-gpus-miner-2021-12">Here are his tips on landing mining hardware that's constantly sold out.</a>10. This couple is on track to retire in their 30s. "You can reach big goals if your salary is not super high or if you have tons of debt," says Ali Lupo. The couple shared their strategy for achieving financial freedom —<a href="https://www.businessinsider.com/financial-freedom-couple-strategies-to-retire-early-real-estate-investing-2021-12"> including their house-hacking tactics.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

10 things before the opening bell

<ul class="summary-list"><li>The pharma industry has seen company executives profit from booming stock gains.</li><li>But one outlier is Ugur Sahin, the scientist behind the Pfizer-BioNTech vaccine.</li><li>Sahin's stake in <keyword id="3124139" type="PERSON" weightage="60" keywordseo="BioNTech">BioNTech</keyword>, whose stock has surged 900% from its IPO price, is worth $6.1 billion.</li></ul>Ugur Sahin, the CEO and co-founder of German pharma group <a href="https://markets.businessinsider.com/stocks/bntx-stock">BioNTech</a>, is one of two scientists whose efforts helped develop the first <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> vaccine authorized in the US.Sahin and his wife, Ozlem Tureci, are the "dream team" couple whose company partnered with <keyword id="44612" type="CITY" weightage="60" keywordseo="Pfizer">Pfizer</keyword> to develop and supply three billion vaccine doses worldwide by the end of 2021.The race among pharmaceutical companies to create and distribute their vaccine candidates was intense last year, with many seeing their <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> impacted by developments in clinical trials. Company insiders rushed to sell their shares, aiming to make profits off of their booming stocks.Notably, Pfizer CEO <a href="https://markets.businessinsider.com/news/stocks/pfizer-ceo-sold-stock-day-covid-19-vaccine-results-unveiled-2020-11-1029790705">Albert Bourla cashed out 60% of his stock</a> the day the company disclosed that its vaccine was more than 90% effective in preventing severe cases of <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword>. But Sahin hasn't sold a single share in BioNTech since February 13, 2020, according to a <a href="https://www.forbes.com/sites/nathanvardi/2021/04/19/the-billionaire-scientist-behind-the-pfizer-vaccine-has-not-sold-a-single-share-of-his-booming-stock/?sh=235f820f7ab9">recent Forbes report</a>.Sahin, the son of Turkish immigrants who moved to Germany in the late 1960s, is among the richest people in Germany. But his family <a href="https://www.nytimes.com/2020/11/10/business/biontech-covid-vaccine.html">lives in a modest apartment</a> near his office and doesn't own a car. His lifestyle is said to reflect a simple approach to life, and he's known for cycling to the office. His company is currently valued at $36 billion. He grew convinced that COVID-19 would have a deadly effect worldwide as early as January 2020, Forbes said. His years of experience with the mRNA method, a safety mechanism that protects against infectious diseases, came in handy when he decided BioNTech would <a href="https://www.theguardian.com/world/2020/nov/10/ugur-sahin-and-ozlem-tureci-german-dream-team-behind-vaccine">pivot to finding a coronavirus vaccine</a>.Pfizer CEO Bourla has previously described Sahin as a "very, very unique individual.""He cares only about science. Discussing business is not his cup of tea," Bourla told <a href="https://www.nytimes.com/2020/11/10/business/biontech-covid-vaccine.html">The New York Times</a> in November last year. "He doesn't like it at all. He's a scientist and a man of principles. I trust him 100 percent."With the development of BioNTech's vaccine, the company's stock has surged 900% from its 2019 IPO price. Sahin's stake in the company is worth $6.1 billion, according to Forbes.SEC filings show Sahin holds a 17% stake in BioNTech through a limited liability company called Medine. Amid a stock transfer by Medine to other beneficiaries, <a href="https://www.sec.gov/Archives/edgar/data/0001776985/000119312521044856/d329239dsc13ga.htm">a filing in February</a> showed neither the company, nor Sahin, had sold any ordinary shares since February 13, 2020, around the time the pandemic was just beginning to spread globally.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-now-downtrodden-with-upside-goldman-sachs-2021-4" target="_blank" rel="noopener">Goldman Sachs says buy these 19 downtrodden stocks that have badly lagged the S&amp;P 500 this year - but have immense upside potential heading into earnings season</a>

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