Jeff Bezos, Bill Gates & Elon Musk Doing More Than Politicians to Fight COVID-19

The Trump administration is failing to contain the impact of COVID-19. Billionaires such as Jeff Bezos, Bill Gates and Elon Musk are donating millions.
Posted in: MarketsOp-ed
Published:
March 23, 2020 1:38 PM UTC
  • The Trump administration is failing to contain the impact of the novel coronavirus in more ways than one.
  • Billionaires are generously donating their assets and expertise to combat the virus.
  • They are moving heaven and earth to deliver necessities and medical supplies to people who need them most.

The Trump administration is always one step behind in the fight against COVID-19, whereas billionaires like Jeff Bezos, Bill Gates and Elon Musk are pooling their assets to deliver concrete solutions.

The ultra-rich are putting their own money, expertise and resources on the line to alleviate the impact of the global pandemic.

Jeff Bezos Leveraging Amazon’s Supply Chain to Keep Delivering Basic Necessities

As governors in New York, California and other large states order strict lockdown measures, many now rely on e-commerce to supply their basic needs. Amazon, being the largest online retailer in the world, is stepping up to the challenge.

Jeff Bezos has tweaked the e-commerce giant’s supply chain to meet the soaring demand.

In a letter to employees, Bezos wrote,

We’ve changed our logistics, transportation, supply chain, purchasing, and third party seller processes to prioritize stocking and delivering essential items like household staples, sanitizers, baby formula, and medical supplies. We’re providing a vital service to people everywhere, especially to those, like the elderly, who are most vulnerable.

Bezos is also hiring 100,000 workers and giving hourly employees a salary bump. He’s doing this so that Amazon can continue fulfilling orders in these challenging times.

Bill Gates Donating Money to Help Researchers Develop a Vaccine

While Donald Trump was still focused on bragging about the growth of the stock market, Bill Gates was busy supporting the frontliners.

In February, Gates donated $100 million to combat coronavirus.

Through the Bill and Melinda Gates foundation, $20 million will go to organizations such as the U.S. Center for Disease Control and Prevention. The money will be used to help frontliners detect, contain, and treat the virus. Another $20 million will go towards at-risk countries in Africa and South Asia.

The remaining $60 million is allocated towards the development of vaccines, treatment and diagnostics.

In 2015, Bill Gates predicted that the world is due for a global pandemic. He’s fighting one now.

Elon Musk to Deliver Masks and Ventilators

Elon Musk recently came under fire for tweeting that “the coronavirus panic is dumb.”


Not one of Musk’s best tweets. | Source: Twitter

The CEO of Tesla and SpaceX appears to be making up for the mishap by delivering critical medical supplies.

A CleanTechnical exclusive reveals that Musk is preparing to supply hospitals with over 250,000 N95 masks. On top of that, Musk says that he’ll have more than 1,000 ventilators next week. It’s no secret that medical equipment is in short supply in the United States.

As Trump fails to take responsibility in solving the medical equipment shortage, billionaires are stepping up to the plate. They will do more in the fight against COVID-19 than any politician.

Disclaimer: The opinions expressed in this article do not necessarily reflect the views of CCN.com.

Sam Bourgi edited this article for CCN.com. If you see a breach of our Code of Ethics or Rights and Duties of the Editor or find a factual, spelling, or grammar error, please contact us.

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Kiril Nikolaev, CFA @kirilnikk123

Kiril is a CFA Charterholder and financial professional with 6+ years of experience in financial writing, analysis and product ownership. He has a bachelor's degree with a specialty in finance and lives in Canada. Kiril’s current focus is on finance and cryptocurrencies. He also has his personal website, Investor Academy, where he teaches people about the basics of investing. He owns Bitcoin, Ethereum, and other cryptocurrencies. He holds investment positions in the coins but does not engage in short-term or day-trading. Get in touch with Kiril: Muck Rack, Email, Follow on Twitter