As China continues to grapple with the spread of the coronavirus, Alibaba (BABA) founder Jack Ma has reportedly donated 100 million yuan ($14.4 million) to fight the disease. As the richest man in China, Ma is using his Jack Ma Foundation to find a vaccine for the coronavirus.

Ma, who is worth $46.6 billion, according to Bloomberg’s Billionaires Index, will give 40% of the funds to the Chinese Academy of Sciences and the Chinese Academy of Engineering with the remaining monies going to global science institutions to also find a vaccine as quickly as possible, CNN reported.

The donation proceeds an announcement by the foundation that another $144 million would be used for medical supplies in Wuhan, China, the center of the coronavirus outbreak, and the surrounding province, the news outlet said.

“Jack Ma Foundation will exhaust our abilities to provide more help to the development and growth of medical science,” the foundation posted on Weibo (via the Robb Report).

The coronavirus has reportedly claimed the lives of at least 132 people with as many as 6,000 confirmed cases diagnosed in mainland China and more than 80 individuals infected in other countries, including the U.S.

Ma, who also falls as the 19th richest man in the world, amassed his fortune through the Chinese e-commerce site Alibaba. Alibaba is reportedly on track to report $75 billion in revenue for the fiscal year.

Shares of Alibaba stock were down 2.42% as of 2:21 p.m. EST on Thursday.

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Alibaba founder Jack Ma and other Chinese media moguls are said to be looking to outsource screenwriting from Hollywood. Pictured, Ma gives a presentation at a conference in Shiba, Japan. Koki Nagahama / Getty
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