Many of America’s most successful companies are giving money, supplies and know-how to take on the COVID-19 crisis at home and abroad.
Each of the companies below is on the Fortune 500, Fortune magazine’s annual ranking of the 500 U.S. companies with the largest total revenue. According to the publication, Fortune 500 companies represent two-thirds of the U.S. gross domestic product with $13.7 trillion in revenues, $1.1 trillion in profits and 28.7 million people employed worldwide.
Here is a sampling of the heavy hitters that, amid the global threat of the COVID-19 pandemic, are stepping up to help.
General Motors Company, in partnership with Ventec Life Systems, has said it will begin producing 10,000 ventilators per month beginning in April to meet hospitals’ demand for ventilators and safety masks.
Ford Motor Company, in collaboration with GE Healthcare, has committed to producing 50,000 ventilators over the next 100 days, and 30,000 per month as needed.
Starting in April, we’re producing a ventilator with @GEHealthcare, leveraging the design of @AironCorp’s FDA-cleared ventilator. It’s designed to operate on air pressure without electricity, making it a versatile solution to help those fighting #COVID19. #BuiltFordProud pic.twitter.com/DtsB0fPGe0
— Ford Motor Company (@Ford) March 30, 2020
Since the outbreak of COVID-19, industrial conglomerate 3M Company has doubled its output of N95 respirator masks around the world. In the U.S. alone, 3M is producing 35 million respirators per month. 3M says it will also ramp up production of the masks in its Europe, Asia Pacific and Latin America manufacturing plants for health care workers in those regions.
Household goods manufacturer Procter & Gamble Company reports it will expand its production to make face masks and hand sanitizer, expecting to make 45,000 liters of sanitizer per week in the near future. “We cannot predict how and when this crisis will end but we’re committed to be part of the solution,” said chief executive David Taylor in a statement.
Wells Fargo & Company’s charitable foundation says it will give $175 million to public health organizations and other groups that address food, shelter and housing stability and keep small businesses afloat.
Bank of America has committed $100 million to address food insecurity, increase access to learning for students, and build medical response capacities both in the U.S. and abroad. “We are focusing our resources on the number 1 priority — looking after people,” said Brian Moynihan, chairman and chief executive of Bank of America.
Investment bank Citigroup Inc.’s foundation says it will allocate $15 million globally. Citigroup says the funds will be divided evenly among the COVID-19 Solidarity Response Fund, created in partnership with the United Nations Foundation and the World Health Organization (WHO); food distribution programs in the U.S.; and countries where COVID-19 has had the greatest impact.
Walmart Inc. promised $25 million in COVID-19 response funding, to be spread out over several initiatives, including nine organizations that support food banks, schools and senior meal programs. It plans to allocate another $5 million to the COVID-19 Solidarity Response Fund.
These days, food banks are experiencing more demand than ever. Walmart and the Walmart Foundation have committed $8 million to @FeedingAmerica to serve people facing hunger. Join us and donate today. https://t.co/qHMnAHKv03 pic.twitter.com/VbWg2czCbV
— Walmart (@Walmart) March 27, 2020
Online retailer Amazon donated $5.5 million in relief to more than 400 small businesses through cash grants and guaranteed free rent in Seattle. The company has also given $1 million to help with COVID-19 emergency response efforts in Washington, D.C., and $3.9 million to organizations that support those affected by COVID-19 in the United Kingdom.
Several tech companies are promising to create relief networks to help those facing unemployment because of the virus. Facebook created a $100 million grant program to help 30,000 small businesses in over 30 countries stay afloat. The company has also committed to matching $20 million to both the CDC Foundation and the COVID-19 Solidarity Response Fund.
Apple is donating $15 million to treat the sick and reduce the economic and community impacts of the pandemic across the globe, according to chief executive Tim Cook. He also said Apple is matching employee donations 2 to 1 to support COVID-19 response efforts at the local, national and international levels.
Proud to share we’ve been able to source 10M masks for the US and millions more for the hardest hit regions in Europe. Our ops teams are helping to find and purchase masks from our supply chain in coordination with governments around the world. pic.twitter.com/uTsA6eA5ks
— Tim Cook (@tim_cook) March 25, 2020
Movie- and television-streaming service Netflix set up a $100 million fund for workers in the creative community whose jobs have been cut or put on hold because of the virus. “We are only as strong as the people we work with,” said Netflix chief content officer Ted Sarandos.
“Every citizen, family, and business can make the difference in stopping the virus,” said President Trump on March 30. “This is our shared patriotic duty.”