Stéphane Bancel lived the American dream. In 2011, the Marseillais and ex-director of BioMérieux took a big risk by settling at the head of a small Boston biotech then unknown, Moderna. And became a turbo-billionaire when his company released its Covid-19 vaccine! With his 5.4% stake, his fortune has more than tripled in two years, weighing 5.6 billion dollars on December 5.
Now, at just 50 years old, the Frenchy Bancel is following the path of the great entrepreneurs of his adopted country. In May, in line with the Giving Pledge initiative launched by Bill Gates and signed by all the barons of Silicon Valley, he announced his intention to give most of his fortune to works of “charity”. Starting with its stock options expiring next summer, representing 355 million dollars on the basis of a share priced at 140 dollars (it currently quotes more than 180 dollars). “Moderna has given my family financial security such as I never imagined or sought, he confides. will continue to bring me”, at a time when biotech has nearly 50 promising projects in development.
“We will pay for their studies and they will inherit the family home”
His two daughters, aged 20 and 18, are warned: “We told them that we would pay for their studies and that they would inherit the family home, but afterwards, it was up to them to manage” … knowing that in the United States , unlike France, it is quite possible (and admitted) to disinherit one’s children.
And also to display his generosity: “I like to talk about it to encourage others to do the same.” Inhabited by his Jesuit education, he therefore embraced a new career as a philanthropist with his wife Brenda, an American photographer. The Bancel couple created their foundation in 2021, which finances projects to fight against social inequalities and access to care, mainly in the Boston area.
“Brenda is in charge of everything full time”
Like this reintegration program for young people released from prison, set up by the Jesuit Father Greg Boyle, or the education program The Esplanade Association. Their Champions of Love initiative also helps “social entrepreneurs” to create solidarity structures.
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“It’s Brenda who manages everything full-time”, specifies the boss of Moderna. Failing to bequeath the paternal billions, his two daughters can give meaning to their use: thus, under the impulse of the youngest, the Bancel foundation has decided to also focus its actions on the preservation of the climate.
In numbers
$5.6 billion in wealth as of December 5, 2022.
355 million (based on a $140 share) of stock options will be donated to charity in the summer of 2023.
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