Coronavirus Giving Tops $1 Billion Worldwide

Philanthropic funding to combat the coronavirus has topped $1 billion, including $182 million from U.S. sources, according to Candid, a foundation research group.

That total exceeds the $898 million Candid has identified in total pledges and donations in response to eight major hurricanes, earthquakes, and wildfires since September 2017, including Hurricanes Harvey, Irma, and Maria and the Australian fires.

Candid tallied $363 million in philanthropic funding for the Ebola outbreak of 2014.

For the coronavirus, the $182 million from U.S. donors came in second, behind China, where at least $729 million has been committed so far.

The Gates Foundation is responsible for more than half of the U.S. total, with its commitment of up to $100 million to improve coronavirus detection, isolation, and treatment efforts; protect at-risk populations; and accelerate the development of vaccines. The second-biggest U.S. donor is Citadel LLC, a hedge fund, with $7.5 million in coronavirus commitments.

The figures from Candid include giving by companies, foundations, and individuals.

The biggest donor worldwide so far has been Tencent Holdings, a Chinese internet company that pledged $216.3 million directly and through its foundation, according to Candid.

Worldwide, corporations and their foundations so far are responsible for 86 percent of coronavirus funding.

Andrew Grabois, the researcher for Candid who compiled the giving data, says the information continues to change rapidly. For example, since he originally published his totals earlier this week, a burst of giving in South Korea, especially by technology companies including Samsung, has pushed that nation from sixth to third place with $45 million in total giving.