Singapore's richest man is getting $1 billion richer each month from selling ventilators

REUTERS/Khaled Abdullah/File Photo

• Singapore's wealthiest man Li Xiting is already $4.3 billion richer this year. He's now worth $13.5 billion, according to Bloomberg data.
• Xiting is the co-founder of a medical devices company, and he can thank his rising fortune from booming orders for medical equipment — particularly ventilators — as nations try to deal with the coronavirus. 
• A spokesperson told the South China Morning Post, about 100 countries had already made orders, including an order for 10,000 ventilators from Italy.
• Visit Insider's homepage for more stories.

Singapore's wealthiest man's fortune has grown by about $1 billion a month this year from selling ventilators to nations trying to combat the coronavirus.

Li Xiting, who is the co-founder and chairman of a medical devices company called Shenzhen Mindray Bio-Medical Electronics, has had his fortune increase by $4.3 billion this year, according to the South China Morning Post, as the company's stock price "soared" by almost 50%.

See the rest of the story at Business Insider

NOW WATCH: Inside London during COVID-19 lockdown

See Also:

• John Hopkins University, which has been instrumental in tracking the coronavirus globally, is expecting layoffs and furloughs due to the economic impact of the pandemic
• An entire Ukrainian town had to be sealed off after dozens of people including priests were infected with COVID-19 at a famous monastery
• 5 tigers, 3 lions, and 2 pet cats have all tested positive for the coronavirus in New York

SEE ALSO: China is experiencing a gold rush for surgical masks — more than 38,000 companies registered in 2020 to make or trade face masks. But mask quality and scams are now issues.

from Feedburner https://ift.tt/3aCsEzw