As Moderna’s profits soared during the Covid-19 pandemic their executives and even their employees have been reaping the benefits in the form of pricey real estate close to the company’s headquarters in the Boston-area.
According to a new feature in the Wall Street Journal, one unnamed Moderna executive put in an offer to buy a unit on the 17th floor of the St. Regis building overlooking Boston’s harbor for $4.9 million on the same day a Pfizer exec bought a condo in the same building on the 16th floor for $4.8 million.
The sales director for the building, Cathy Angelini, told the Journal the Moderna executive told her that he wanted his home to be one floor higher than the Pfizer exec. She said: ‘He just looked at me, completely serious and said, ‘I want the same home, but I need to be one floor higher than Pfizer.’’
She added: ‘I don’t think he was concerned about the price.’ The executive told her: ‘Just get me higher.’
The St. Regis building overlooking Boston’s harbor where two pharmaceutical executives from two different companies bought nearly two nearly $5 million condos on the same day in 2021
The sales director for the building, Cathy Angelini, told the Wall Street Journal the Moderna executive told her that he wanted his home to be one floor higher than the Pfizer exec.
According to the St. Regis’ website: ‘The St. Regis Residences, Boston offers 114 extraordinary homes including majestic views and spacious surroundings’
The company’s chief human resource officer Tracey Franklin and her husband, William, bought a house in Boston for around $6 million in April 2021. The couple has two children together.
Franklin made the move to Moderna in October 2019, just months before the Covid-19 pandemic changed the world. This month, her role in building a team that helped to develop the coronavirus vaccine was covered by Forbes Magazine.
In a separate interview with Fortune Magazine, Franklin described joining Moderna saying: ‘We essentially had to build the company overnight. We had to build out a whole arm of the company that hadn’t existed before, cross-functionally, globally, in all different parts of the world. That rapid scaling is pretty unprecedented.’
The company’s chief human resource officer Tracey Franklin and her husband, William, bought this house in Boston for around $6 million in April 2021
Tracey Franklin is credited with developing the team that led to Moderna’s Covid-19 vaccine breakthrough
In November 2021, Allyson Nicholson and her husband, Michael, purchased a $2.5 million home in Westwood, Massachusetts
Moderna’s vice president of supply chain design, Allyson Nicholson, who was previously based in Thousand Oaks, California with Amgen, joined Moderna in September 2021
Moderna’s vice president of supply chain design, Allyson Nicholson, who was previously based in Thousand Oaks, California with Amgen, joined Moderna in September 2021.
In November 2021, she and her husband, Michael, purchased a $2.5 million home in Westwood, Massachusetts.
Another of those who made big purchases is the chief scientific officer of Moderna Genomics, Eric Huang, who paid $3.9 million for a condo in Boston.
Less than a year later, Huang expanded his portfolio further purchasing an $8.1 million 3,586-square-foot unit at the Soori High Line in New York City.
The Soori High Line in New York City where Moderna’s chief researcher in the genome field Eric Huang bought an $8.1 million condo in 2021
Eric Huang, pictured above’s, New York City pad had an original asking price of $8.5 million. The owner paid $8.8 million for it in 2018
According to his LinkedIn page, Huang is still based in Massachusetts at Moderna’s headquarters. He has been with the company since 2013.
The seller of Huang’s home was seeking $8.5 million for the five bedroom home. In 2018, the seller paid a pricey $8.8 for the pad.
Huang is head of Moderna’s gene modifying wing, Moderna Genomics, which was set up in 2021.
Moderna scientist Paolo Martini and his partner Jonathan Hawkin became the owners of the area’s entertainment complex, Crown & Anchor, for $7.3 million
Paolo Martini, pictured here, spent over $11 million on property less than 12 months after joining Moderna in 2021
Martino, on the left, his partner, Jonathan Hawkins on the right, pictured with former President Bill Clinton in Provincetown in 2022
Just six months after joining Moderna, scientist Paolo Martini and his partner, artist Jonathan Hawkins, bought a beach house peaceful and picturesque Provincetown in Cape Cod for $2.5 million in April 2021.
A few months later, the couple became the owners of the area’s entertainment complex, Crown & Anchor, for $7.3 million.
Another splurge came for the pair in December 2021 when purchased a $1.9 million condo in Boston. That brought their real estate spending in 2021 to over $11 million.
Melissa J. Moore, who led a team of researchers who made significant breakthroughs en route to developing the vaccine, paid $4.95 million for a home in Provincetown in October 2021
In 2007 and 2013, Melissa Moore, pictured here, received a grants for her research in pre-eclampsia, a blood pressure related condition found in pregnant women, from the Bill and Melinda Gates Foundation
Melissa Moore has three children with her former CEO wife, Janet Kosloff
Melissa J. Moore, who led a team of researchers who made significant breakthroughs en route to developing the vaccine, paid $4.95 million for a home also in Provincetown in Cape Cod in October 2021. Moore, and her wife, Janet Kosloff have three children.
In 2007 and 2013, Moore received a grants for her research in pre-eclampsia, a blood pressure related condition found in pregnant women, from the Bill and Melinda Gates Foundation.
The company’s head of litigation, Neal Dahiya, who bought a home in the Boston suburb of Cambridge for a cool $3.45 million
On his LinkedIn page, Dahiya says that he joined the company in January 2021 following eight years at New Jersey-based biopharmaceutical company Bristol Myers Squibb
The company’s head of litigation, Neal Dahiya, who bought a home in the Boston suburb of Cambridge for a cool $3.45 million.
On his LinkedIn page, Dahiya says that he joined the company in January 2021 following eight years at New Jersey-based biopharmaceutical company Bristol Myers Squibb.
Moderna told the Journal in a statement: ‘As a major employer in Massachusetts, and as we grow our global footprint, we are proud to continue to attract the best and brightest talent in the biotech industry and beyond
The WSJ article mentioned other employees lower down on the Moderna food chain such as a married couple who both worked for the pharma giant who began looking for a home in September 2020 with a budget of $1.9 million. They paid $4.3 million for their home in March 2021.
Moderna told the Journal in a statement: ‘As a major employer in Massachusetts, and as we grow our global footprint, we are proud to continue to attract the best and brightest talent in the biotech industry and beyond.’
The company’s workforce increased dramatically during the pandemic. In 2019, Moderna had just 830 employees. At the time of writing, the company has a staff of more than 3,200, that’s up from 2,700, in 2021.
In 2021, the company’s average salary was just over $133,000. Moderna’s revenue in 2021 was $18.5 billion. Shares of the company are up from $28 in early 2020 to $166 at the time of writing. The stock peaked at nearly $500 in August 2021.
Earlier this year, Moderna CEO Stephane Bancel issued a pledge to donate the proceeds from his stock options, estimated around $355 million to charity.
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