Black Executive Kenneth Frazier’s Merck & Co. Investment Dips by $3.4 Million

Kenneth Frazier, the first Black executive to run a major pharmaceutical business, has suffered a blow in his portfolio when the market value of his Merck & Co. holding fell dramatically following the company’s recent share price dip.

According to market statistics, Frazier, Merck & Co.’s former executive chairman and CEO, has seen his investment in the New Jersey-based pharmaceutical giant drop by $3.36 million in the last 11 days, reflecting the company’s recent share price dip.

Frazier’s holdings in the top pharmaceutical business increased by $7.4 million between March 18 and March 31, preceding this dip.

Merck & Co. remains a pharmaceutical industry leader, with a broad portfolio of prescription pharmaceuticals, vaccines, biological treatments, animal health products, and consumer healthcare solutions. The corporation is divided into three business segments: pharmaceuticals, animal health, and other.

However, Merck & Co.’s stock price has recently been under pressure. Since April 1, shares of the New York Stock Exchange have decreased 4.32 percent, from $130.99 to $126.22 as of this report. This fall has reduced the company’s market capitalization below $320 billion, resulting in severe losses for stockholders.

Kenneth Frazier, a notable Black American executive, owns a 0.028 percent investment in Merck & Co., which is currently worth at $89.01 million. This places him among the most wealthiest Black executives in the United States.

The market value of Frazier’s Merck stock fell by $3.64 million, from $92.38 million on April 1 to $89.01 million at the time of writing. Despite his recent downturn, Frazier remains a leading Black executive.

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