- Billionaire philanthropist Bill Gates, Alibaba founder Jack Ma, and Hong Kong's richest man Li Ka-Shing have collectively pledged over $100 billion to various efforts to help alleviate the coronavirus outbreak.
- Depending on where and to whom they pay out the funds, these donations might not help the patients and healthcare workers who need them the most, Fortune's Eamon Barrett reported.
- The novel coronavirus has infected more than 110,000 people and killed nearly 3,900 , including 22 reported deaths in the United States.
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Billionaires are spending millions to fight the novel coronavirus that has infected more than 110,000 people and killed nearly 3,900 globally , including 22 reported deaths in the United States.
However the gifts, which total $129.65 million thus far according to Business Insider's calculations, may not be doing much to help those already suffering from the growing global health crisis. Of the portion of the donations that are designated to help those on the front lines of the coronavirus outbreak, some are going to organizations designated by the Chinese government to handle the crisis, Fortune's Eamon Barrett reported. However, medical workers throughout Wuhan are complaining on social media of not receiving any aid from these groups, according to Fortune .
The donations came amid a stock market correction that cost the world's 500 wealthiest people more than $100 billion on February 28 alone. The turbulence has continued in the time since. The S&P 500 plummeted 7% immediately after trading began Monday, prompting the first market-wide trading halt since the financial crisis.
Keep reading to learn more about the coronavirus-related donations made by billionaires, in the order they were announced.
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