World’s Richest 1% Contributing to the COVID-19 Fight

How the world’s richest are helping during the COVID-19 pandemic?

According to the World Health Organization, the epicenter of the coronavirus has shifted to the Americas in June. Since we are just about to enter the new stage of the pandemic, it is a great time to see what the wealthiest men in the world have done to help the community fight this dangerous opponent. A solid portion of the planet’s richest personas has given their contributions. There are donations we never had the chance to find out for, but we will deal with what we know. This is the list of the most significant donations the world has seen during the pandemic that has completely changed our lives in the first half of the year.

American Donations

Washington Post did an interesting survey analyzing how America’s 50 richest people and families have contributed to the society during the pandemic. The total amount they’ve donated so far exceeds $1 billion. At first sight, it seems like a massive amount, but the reality says it does not even add up to more than 0.1% of their combined wealth, approximated at around $1.6 trillion.

We know that more than 50% of these people and families have publicly confirmed their donations, either in a personal way or through on or more of their high-profile companies. However, almost one-third of them have declined to say anything when they had been asked for a comment.

The median net worth of a standard American household registers at $97,300. Washington Post used the number to calculate where the donated money of 50 wealthiest families stands when compared to a genuine American citizen.

Bill Gates

The Microsoft co-founder has been the standout public figure ever since the coronavirus outbreak. His Bill and Melinda Gates Foundation committed to more than $300 million to help detection, isolation, and treatment of the virus on the global level. We had the chance to see Bill Gates on TV on numerous occasions over the last couple of months. Compared to a regular US citizen, his donated sum would translate to $283.

Jack Dorsey

Although Twitter and Square CEO is not among the top 50 of the richest Americans, we have to mention him as the most generous of all donors during the crisis. He pledged just more than $1 billion which makes almost 30% of his net worth. For the sake of comparison, that equals to $27,000 donated by a median American.

Ray Dalio

The hedge fund manager is also well worth mentioning since he donated over $100 million. His net worth is $18 billion, and the amount of money he’s put in makes him the most notable donator of all of America’s 50 wealthiest people.

Other significant donations

It would be unfair not to mention the following people who made at least some kind of sacrifice for a greater cause. Bill Ackman, the owner of Pershing Square, is significantly helping the work of Covaxx, a company crafting Covid-19 antibody kits.

Indian tycoon Gautam Adani stepped up with a massive $15.4 million donation through his Adani Group. The company is also manufacturing ventilators and masks, as well as providing free food for those in needs. Indian Prime Minister’s emergency fund was also significantly boosted by Mukesh Ambani. His Giant Reliance Industries (dealing with oil and gas) collected $67 million for the fund. Mukesh’s company also secured the country’s maiden coronavirus center in Mumbai.

Europe has its memorable people, too. One of the most famous fashion designers on the planet, Giorgio Armani, came out with a charitable donation of $2.2 million to hospitals in Bergamo, Milano, Rome, Piacenza, and Versilia. His compatriot Silvio Berlusconi was even more generous, securing more than $10 million for Lombardy, the region that suffered the biggest losses in Italy and the whole continent back in the time. Bernard Arnault’s converted three of his LVMN perfume companies into hand sanitizer factories. He delivered more than 40 million masks to French people.

Final word

The list is much longer in reality, but it is hard to keep track of every single donation in the world. The wealthiest men and women in the world have taken actions in tough times, nobody can deny it. Whether their donations could have been larger? Probably yes, but who are we to judge? After all, many countries have received donations we do not know about. The least we can do is to thank everyone who has donated a single penny because we are all in the combat with the same invisible enemy, who is still out there. The situation is currently much better than it has been at the beginning of the pandemic. Let’s hope this will all be only a bad memory this time next year.

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