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How much the world's richest companies are donating to fight coronavirus

How much the world's richest are contributing in the fight against coronavirus. Source: Getty
How much the world's richest are contributing in the fight against coronavirus. Source: Getty

As the coronavirus continues to ravage economies across the globe, some of the world’s biggest and richest companies have stepped in.

Here’s what they’re doing:

Google

Last week, Google announced it would donate a total of US$800 million (AU$1.3 billion) to support businesses, organisations and healthcare workers, the majority of which would be in the form of free advertising.

The tech giant initially promised to donate US$25 million to the World Health Organisation and government agencies, but has since upped this to a whopping US$250 million.

Another US$200 million will be put towards an investment fund to support NGOs and financial institutions around the world to help provide small businesses with access to capital.

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Small businesses with active accounts will also be able to access US$340 million in Google Ads credits.

Google employees who donate to their communities will also see their donations matched by the company.

Facebook

Facebook revealed a US$100 million investment in the news industry to support journalism during the coronavirus pandemic.

Of that, US$25 million will be granted to local news outlets.

A further US$75 million will be spent on additional marketing with news outlets that have seen a significant decline in their revenue.

Amazon

Amazon founder Jeff Bezos created a US$25 million Amazon Relief Fund to support its employees during the pandemic.

The fund is focused on “supporting our US-based Delivery Associates employed by Delivery Service Providers, our Amazon Flex Delivery Partners, and Associates working for Integrity Staffing, Adecco Staffing, and RES Staffing, and drivers and support team members of line haul partners under financial distress due to a Covid-19 diagnosis or quarantine.”

However, Bezos faced backlash after asking the public to make donations to the fund, despite him being worth US$114 billion, and his company hitting the US$1 trillion mark.

“While we aren’t expecting anyone to do so, you can make a voluntary donation to the fund if you desire to do so,” Amazon wrote on its fund’s website.

Outside of the fund, the company has collaborated with local catering businesses to distribute meals to the elderly, it revealed in a blog post.

It’s also granted US$5.5 million to 400 small businesses in Seattle through cash grants and free rent.

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