The Margin: A 17,000% return on a single stock just made this teacher a billionaire
went public in late 2018, bursting on the Wall Street scene as the biggest biotech IPO in history. Timothy Springer, a Harvard medical professor, saw his stake in the company fatten his bottom line by a whopping $320 million by the end of the trading day.
Springer made his first killing during the bubble of 1999, Bloomberg reported, when he pocketed $100 million by selling his first venture to Millennium Pharmaceuticals. He took $5 million of that and plugged it into pre-IPO Moderna. From there, the rest is history.
Will all that money change him? Not if his comments from 2018 are any indication.
“I have an academic lifestyle. I’m not into ramen noodles, but my friends are academics, so it doesn’t really behoove me to be flashy,” Springer told Bloomberg at the time. “I feel that I’ve had more than enough wealth for myself for some time. I don’t feel I need more.”
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