Dell Technologies founder and CEO Michael Dell and his wife’s foundation is donating $100m to help small businesses and others combat the global coronavirus pandemic as well as find treatments for COVID-19.
“The magnitude of the problem is daunting, and it is vitally important to us that help reaches as many people and families as possible,” said Michael Dell in a LinkedIn post. “Now more than ever, it’s imperative to stay home, if possible, in a collective effort to support those working selflessly on the front lines to keep us well.”
The Michael andSusan Dell Foundation is dedicating $100m to initiatives and projects related to coronavirus relief. Approximately $80m is being committed to providing relief for communities, focusing on supporting healthcare and education systems, sustaining the work of nonprofits and social enterprises, and stabilising livelihoods and small businesses.
Another $20m is being dedicated to ensuring that the coronavirus becomes treatable and is eradicated as quickly as possible.
The foundation will give the funding to the COVID-19 Therapeutics Accelerator, which was launched by the Bill and Melinda Gates Foundation, Wellcome, and Mastercard to identify potential treatments for COVID-19 and accelerate their development and distribution.