Top executives are donating huge amounts to fight Coronavirus.
Twitter’s Jack Dorsey donated 1 billion USD (1/3 of his personal wealth) and created a fund for fighting Coronavirus. Some will sneer and say that it leaves him with more than enough, but the resources it provides enables serious progress.
Diego and Andrea Della Valle gave up all their compensation for 2020.
Mark Zuckerberg donated 25 million USD.
John Idol, Michael Kors, Donatella Versace forgo their whole salary for the fiscal year.
Ralph Lauren gives up his salary for two years.
Hermes chairmen forgo their salary for the whole year.
Kering executives decide a pay cut of 25% of the salary and will forgo the variable . These executives are wealthy and have enormous compensation packages, not limited to salaries. By donating their annual salaries they are making a symbolic gesture.
It is a perspective worth keeping in mind as we all consider how our own actions, like wearing masks and staying in, contribute to community well-being.
