UnitedHealth has experienced a significant loss of $63 billion in market value following the murder of their CEO last month.
Brian Thompson was fatally shot in what authorities believe to be a targeted attack by Luigi Mangione.
Thompson sustained gunshot wounds twice in the back and once in the leg as he exited a Hilton hotel in Midtown Manhattan last month.
Authorities later revealed that a suspect was apprehended after being recognized at a McDonald’s in Altoona, Pennsylvania, thanks to a tip-off from an employee at the fast-food establishment.
Mangione has been charged with several offenses by the Manhattan District Attorney’s Office, including first and second-degree murder, illegal possession of a weapon, and possession of a forged driver’s license.
The suspect entered a plea of not guilty on December 23.
Mangione is facing two legal proceedings for the charges against him; one at the state level and another at the federal level.
The two cases are set to proceed concurrently, with the Manhattan District Attorney Alvin Bragg’s office confirming to CNN that they are working with federal authorities to coordinate Mangione’s arraignment on the state charges.
Attorney General Merrick B. Garland stated: “Today, the Justice Department has brought federal murder charges against Luigi Mangione. As alleged, Mangione planned his attack for months and stalked his victim for days before murdering him — methodically planning when, where, and how to carry out his crime. I am grateful to our state and local law enforcement partners for their tireless efforts to locate and apprehend the defendant and to ensure that he answers for his alleged crime.”
The murder of Johnson has reverberated globally, significantly impacting UnitedHealthcare’s financial standing.
According to the Independent, the company’s shares have declined by roughly $100 since Thompson’s death on December 4.
Despite the drop in stock value, UnitedHealth announced that they achieved better-than-expected profits in the last quarter of 2024.
During an open conference call on Thursday (January 16) discussing their financial performance, the company paid tribute to Thompson.
“Brian helped build this company and forged deep, trusted relationships for over 20 years, and the positive impact he had on people will be felt for years to come,” stated Chief Financial Officer John Rex.
Sir Andrew Witty, the group’s CEO, addressed concerns about the company’s role in the US healthcare sector.
Following Thompson’s death, some individuals shared experiences alleging that UnitedHealth had denied requests for medical coverage.
Mr. Witty emphasized during the earnings call the need for the US healthcare system to be ‘less confusing, less complex and less costly’.
“Those are key areas for us to work at to improve,” he asserted.