Elon Musk Buys Chinese 'Oversupply' of Ventilators to Donate to U.S. Hospitals

Nick Kangadis | March 25, 2020
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Blah, blah, blah. We're constantly being fed lip service by politicians and the talking heads in the media about how poorly this is or how awesome something else is in reference to the coronavirus (COVID-19), but average Americans like us typically respond more to action - logical and responsible action - but action nonetheless.

Tesla CEO and SpaceX founder Elon Musk announced in a Monday tweet that he had purchased over 1,200 ventilators from China and is going to donate them to hospitals in need.

According to the Daily Wire:

The ventilator donation shows a massive investment in the United States hospital system, particularly due to the cost and rarity of ventilators. Medical technology manufacturer Medtronic estimates that new ventilators can cost between $5,000 and $50,000, depending on the model.  

Musk's announcement comes just a day after President Donald Trump tweeted out the "go ahead" and/or challenge to Tesla, Ford and General Motors (GM) to begin making ventilators.

Here's a brief video of how the increase of ventilators and other supplies affected the market on Tuesday:

 

 

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