China: Rise of a New Philanthropic Power

In response to the ongoing coronavirus emergency, on January 31, Chinese billionaire Jack Ma pledged the equivalent of US$144 million for medical supplies for Wuhan and Hubei as well as $14 million to help develop a vaccine. Just a few months ago, the former teacher had left the reins of a company of more than 100,000 employees, valued $450 billion, stating that he wanted to devote himself to philanthropy in the field of education. The emergence of the coronavirus threat showed his commitment to supporting public-health efforts as well.
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