Jack Ma, an Asian billionaire, showed his support to the region that fights against coronavirus. The richest Asia’s man sent 1.8 million face masks and 210 million COVID-19 test kits to the continent’s poorest nations.
Over the recent weeks, seven China’s 10 wealthiest people, including Ma, have lost a combined US$28 billion, SCMP reported. That figure based on the sharp decline in their corporations’ share prices. Sending 1.8 million masks to the fragile regions becomes the latest Ma’s step in an ongoing effort from his foundation to push back against COVID-19 outbreak.
This week, Ma joined Twitter to announce that his own Foundation and Alibaba Foundation were shipping a donation of emergency supplies to the U.S.
Earlier, jack Ma’s philanthropic groups linked to the Alibaba Group Holding Ltd. also sent thousands of testing kits and masks to countries in Africa.
Jack Ma keeps his Twitter follower posted saying that the poorest countries like Afghanistan, Bangladesh, Cambodia, Laos, the Maldives, Mongolia, Myanmar, Nepal, Pakistan and Sri Lanka would all receive help from Ma’s humanitarian organizations. The richest Asia’s man promised people will receive protective suits, ventilators and thermometers.
Coronavirus causes shortages of protective masks
Over weeks, the governments in the different corners of the planet confirm the shortages of essential medical and protective equipment. That problem is evenly actual for both developed economies and developing nations.
This week, even New York Governor Andrew Cuomo saying more “ventilators, ventilators, ventilators” were needed to help his state handle the anticipated number of infected people needing treatment.
On Tuesday, The Institute of International Finance reported the figures on markets stocks. The recently issued IIF report showed that more than US$55 billion had flowed out of emerging markets stocks and bonds since the COVID-19 outbreak began shaking markets in late January, more than double the amount withdrawn during the global financial crisis in 2008 and dwarfing other stress events, including the Asian financial crisis in 1997-98.