No, it’s not fake news. He’s been doing “consulting” on the side, which IIRC made him over $1 million last year, and also had investments in some of the vaccine developers although I think through third parties. His agency also made a lot of money from his connections. This has been amply documented.
With a politician...which is what he is, since he’s never practiced as a doctor and doesn’t do research but simply is the head of a federal bureaucracy that hands out money...always follow the money.
Did you do the search I suggested?