Merck & Co. Stake Decline Costs Black Executive Kenneth Frazier $6.4 Million

Kenneth Frazier, the first Black executive to manage a major pharmaceutical company, has seen the market value of his Merck & Co. stock fall by millions of dollars as the American multinational pharmaceutical company’s share price has plummeted recently.

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 $6.42 million in the last three weeks, reflecting the company’s recent share price dip.

Merck & Co., a prominent healthcare firm, has cemented its position in the industry by providing a diverse variety of healthcare solutions, including prescription medications, vaccines, biological therapies, animal health products, and consumer healthcare goods. The company operates in three segments: pharmaceuticals, animal health, and others.

The company’s shares on the New York Stock Exchange have fallen 7.04 percent in recent days, from $129.45 on February 23 to $120.34 at the time of this publication. As a result, the company’s market valuation has dropped below $310 billion, causing enormous losses for shareholders, including Frazier.

Kenneth Frazier, a renowned Black CEO in the United States, owns a 0.028 percent ownership in Merck & Co., which is currently worth at $84.9 million. Frazier’s overall salary from the pharmaceutical firm in 2022 fell 78.6 percent to $8.5 million, from $15.2 million the previous year.

The market value of Frazier’s Merck share has dropped by $6.42 million, from $91.29 million on February 23 to $84.87 million at the time of this report.

Despite the recent fall, Frazier is a top Black executive, known for his strategic leadership and Merck’s dedication to innovation and long-term healthcare solutions, which continue to attract investors.

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