Corporate America Taking Action On Coronavirus? What BlackRock, Tech Giants, Others Are Doing During Health Crisis

Financial planning and investment management firm BlackRock.com Monday committed $50 million to coronavirus relief efforts to help those facing financial hardship and social dislocation as a result of the pandemic, one of a number of companies attempting to offset disruptions.

Tech giants Apple, Facebook and Salesforce pledged to donate face masks to healthcare workers as companies worked to mitigate the damage caused by the administration’s reported failure to heed early warnings on the virus’ spread – something President Trump disputed, citing his decision to block travel from China.

BlackRock said the money will be directed to offsetting job disruptions, school closures and unexpected parental, childcare and medical costs.

“As the pandemic continues to spread and constrains daily life, it is presenting significant hardship to people around the world – including in the communities where we operate,” Larry Fink, BlackRock chairman and CEO, said in an email to IBTimes. “We believe it’s our responsibility to support those least able to cope and bounce back, and who will feel its impact hardest – both today, and in the months to come.”

The company said in a press release the first tranche of funds, $18 million, would go to food banks and community organizations in the U.S. and Europe that work directly with vulnerable populations to offset declining donations and volunteer numbers.

After UCSF put out a plea for face masks and other protective gear, Salesforce delivered 9,000 face masks and said it was looking for 5 million more.

Facebook CEO Mark Zuckerberg said the company would donate 720,000 face masks that it bought when wildfires were ravaging California and was working to source millions more.

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Apple’s Tim Cook also said his company was donating millions of masks in both the U.S. and Europe.

3M said Friday it is increasing its production of critical supplies, doubling its global output of N95 respirators to 100 million per month and upping production of hand sanitizers, disinfectants and filtration solutions.

And fashion designer Christiano Siriano said he has put together a “full sewing team” working from home on masks.