Coronavirus: Over 40 Companies Donate $3.1billion for Containment, Drug Development

Coronavirus: Over 40 Companies Donate $3.1billion for Containment, Drug Development

As World records more confirmed cases of coronavirus and continues battling the deadly virus, analysis has shown that 47 companies have donated $3,113,762,975 for virus restraint and possible drug for its cure. According to the data mined and analysed by our analyst, LVMH, Kering and Swarovski have jointly donated $2.8billion for the purpose, which is the highest donation as at the time of writing this analysis.

Information has it that “Many of the funds were sent directly to the Chinese Red Cross Foundation.” Analysis further indicates that FUZAMEI, Chinese blockchain startup, had the lowest donation of $14,280.  Most of the companies are operating in the North America, Asia and Europe, analysis reveals. Apart from this, analysis also establishes that the donors channeled the funds to Non-Governmental Organisations and Hospitals in China, especially Wuhan, the epicenter of the disease.

Exhibit 1: Companies and Association with Significant Donation

Source: Newspapers’ Reports, 2020; Infoprations Analysis, 2020

Exhibit 2: First Category of Donors

Source: Newspapers’ Reports, 2020; Infoprations Analysis, 2020

Exhibit 3: Second Category of Donors

Source: Newspapers’ Reports, 2020; Infoprations Analysis, 2020

Exhibit 4: Third Category of Donors

Source: Newspapers’ Reports, 2020; Infoprations Analysis, 2020

Our analyst notes that the donation from the global and local companies indicates that the owners and managers of the businesses are ready to make significant impacts in the war against the disease that has claimed life and expected to have a negative impact on national, regional and global economies at the end of the Q1 2020.

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