How Do The World’s Wealthiest Entrepreneurs Help During The COVID-19 Pandemic?

The world’s wealthiest entrepreneurs have contributed and responded in many ways to ensure that the coronavirus’s chain of transmission is cut. The contributions come in several ways, which are vital for the respective countries within which the tycoons reside and even to the world at large.

Covid-19 pandemic is a global phenomenon, and it requires every individual’s efforts to help flatten the transmission curve. For this reason, most of the wealthiest individuals from all corners of the world have seen it futile to leave the burden to the government alone, and they have stepped forward in several ways to help.

Here are some of the ways in which these entrepreneurs have been essential to the process of returning the world to normalcy through their various contributions.

Support to the Vulnerable Families and Societies with Relief Services

Covid-19 pandemic has not only led to the firing of many employees but also contributed significantly to the loss of casual jobs such as building and construction. Millions of people are living below the poverty level in many countries today.

They are unable to afford a meal a day, leave alone for their children but even for themselves. In this regard, many tycoons have been able to come on board to assist where they can with the best food and upkeep gifts of every kind.

The best example is the contribution of Mukesh Ambani, the founder, and owner of Resilience. This tycoon has given out over 67 million dollars to the Indian Prime Minister Emergency Fund. He has also issued free meals across various cities to the vulnerable families who would otherwise go without a meal.

Vaccine and Disease Research

COVID-19 is a global phenomenon that has affected all corners of this globe. As such, the wealthiest people have been able to see the pandemic end by contributing towards finding its vaccines and research. The disease is a new disease that has never been discovered anywhere other than china following its outbreak in 2019.

Therefore, tycoons are looking to end it by funding a vaccine to curb its spread. A great example is the contribution of Bill Gates who has donated millions of dollars to assist in research and discovery of vaccines towards eradicating the infection.

Bill Ackman, Pershing Square founder, has also made a 100 fold return of over 2.6 billion dollars on the edge of coronavirus. These funds were meant to fund one company, Covaxx, which is charged with the enormous task of developing coronavirus antibody kits—hence helping in ensuring that this infection is a thing of the past.

Payment of Heath Staffs

Since the outbreak of the COVID-19 pandemic, there has been a massive demand for health workers in almost every nation across the globe. The number of nurses and doctors that the coronavirus disease upsurge has demanded may not be affordable to the countries without the wealthy entrepreneurs’ support.

As such, people like the Chelsea Football Club owner, Roman Abramovich, pays for the entire NHS staff to ensure that they stay at Stamford Bridge Millenium Hotel found around Westminster Hospital. This step will allow the staff to work towards curbing the infections.

Development and Buying of Protective Gears

For those who know, COVID-19 patients cannot be handled without the protective gear, which include clothing, goggles, gloves, and even the face and head masks. Similarly, the World Health Organization has proposed certain precautions to members of the public to adhere to and to help them curb the spread of the virus.

Thus, some of the wealthiest people around the globe have been able to provide these requirements to the nations in which they come. Jack Ma, a Chinese tycoon, was able to donate many masks and other protective equipment to African nations when the pandemic first hit them.

Similarly, Gautam Adani, a sports tycoon company, has contributed over 15.4 million dollars towards COVID-19 relief. This fund was meant to be part of India’s Prime Minister’s Emergency Funds towards COVID-19.

Additionally, Adani is known for the production of protective equipment such as masks and even the ventilators, which have been of high demand in the recent past and even today.

The Bottom Line

Covid-19 pandemic, a global issue, has exposed the need to embrace every business in any country across the globe. During this pandemic, entrepreneurs have proved their social and even economic worth by supporting the various governments and social structures globally.  This act is a clear indication that every individual business matters regardless of whether or not they belong to the government, and every business is worth the credit and the attention when there is a need.