Published 19:21 IST, January 30th 2020
Jack Ma to donate $14 million towards vaccine research for the novel coronavirus
Co-founder of the e-commerce giant Alibaba and richest man in China has recently pledged $14 million toward research into the vaccine for the new coronavirus.
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The richest man in China and the co-founder of the e-commerce giant Alibaba, Jack Ma, has recently pledged $14 million dollars in an effort to help development of a vaccine for the deadly new Chinese coronavirus. The donations were made through his charitable foundation called 'The Jack Ma Foundation'.
The donation will be split
According to reports, the donation will be split between two research organisations of the Chinese Government, each organisation will receive 5.8 million dollars and the rest of the money will go towards prevention and treatment of the deadly virus. Even with Ma's donation, experts predict that it will take up to a year for the vaccine to be developed and hit the market.
Take a bow for Jack Ma. 👏🙏
— syam kp (@syamkp1) January 30, 2020
He donated 100 million Yuan through his Jack Ma Foundation. The money will help scientists produce a vaccine against the deadly Coronavirus. pic.twitter.com/SPU7fLhdtX
Founder of https://t.co/zK9EouJ0dx, entrepreneur #JackMa has announced the aid of staggering $14.4 million (£11 million) to help scientists develop the vaccine for the #coronavirus that has claimed hundreds of lives in China and other countries. #Metronome pic.twitter.com/IjFCthqiEW
— HajRa (@HajRa053) January 30, 2020
The pharmaceutical giant, Johnson & Johnson has also started the quest for a vaccine and in a statement said that they were 'very confident' that they would be able to find a vaccine.
Johnson & Johnson Joins The Quest For Coronavirus Vaccine https://t.co/ri3BvROXD1 pic.twitter.com/gbmWMnyphn
— biotecnika (@biotecnika) January 30, 2020
Who is Jack Ma?
Jack Ma is a Chinese business magnate, investor, politician, and philanthropist and also the co-founder of Alibaba. Ma is the former chairman of the Alibaba Group, a large multinational technology conglomerate. Ma has always been a great proponent of an open and market-driven economy according to sources.
Reports claim that Ma has a net worth of $44.3 billion making him the richest man in China and one of the richest people in the world.
(with inputs from agencies)
19:21 IST, January 30th 2020