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Billionaires from Bill Gates to Jack Ma are donating millions to help alleviate the coronavirus crisis — but it may not go where it's needed most

LUDOVIC MARIN/AFP via Getty Images

Alibaba founder Jack Ma pledged 100 million yuan ($14.5 million) to support the development of a coronavirus vaccine on January 30.

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.

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Keep reading to learn more about the coronavirus-related donations made by billionaires, in the order they were announced.

See Also:

SEE ALSO: The coronavirus has already cost the ultra-wealthy more than $100 billion. Here's why they're likely to feel more pain from the market drops than the average American.

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DON'T MISS: Meet secretive Cirque du Soleil billionaire Guy Lalibert, a space tourist and former street performer who was arrested for growing cannabis on his private island

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