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Meet Colin Huang, who just stepped down as CEO of $100 billion Pinduoduo and whose wealth exploded by $25 billion in 2020

<ul class="summary-list"><li>Billionaire <keyword id="219358" type="PERSON" weightage="60" keywordseo="Mark-Cuban">Mark Cuban</keyword> tweeted out a spending plan he thinks the US government should use to help boost spending, jobs, and businesses.</li><li>He suggested giving American households $1,000 every two weeks for the next two months with the caveat that the money be spent in 10 days or else it would expire.</li><li>"It's time for trickle-up economics," Cuban said, suggesting the government hire millions of unemployed people for contact tracing.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Mark Cuban, billionaire investor and owner of the NBA's Dallas Mavericks, tweeted over the weekend that the US government should give its 128 million households $1,000 dollar stimulus checks every two weeks for the next two months as part of a spending program to boost demand in the US <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> in order to keep businesses alive.Americans received <a href="https://www.businessinsider.com/personal-finance/coronavirus-stimulus-check-questions-answers-2020-4">stimulus checks</a> from the federal government as apart of the first <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> related relief package known as the <a href="https://www.businessinsider.com/coronavirus-economic-stimulus-senate-bill-allocations-direct-payments-business-loans-2020-3">CARES Act</a>. Another <a href="https://www.businessinsider.com/cares-2-whats-in-next-coronavirus-stimulus-bill-2020-5">coronavirus bailout bill was passed</a> the House Democrats but is unlikely to get by the Republican-controlled Senate. But according to Cuban, unless Americans are spending money businesses will continue to suffer.That's why Cuban suggested giving Americans $1,000 dollar stimulus checks every two weeks for the next two months with the caveat they spend the money in 10 days or else it would expire. The thinking behind Cuban's $500 billion plan is that it would fuel commerce enough to keep essential products and services afloat as well as most businesses.Cuban, a <a href="https://www.businessinsider.sg/video-mark-cuban-daily-show-coronavirus-task-force-2020-4">proponent of "trickle-up" economics</a>, is calling for the federal government to hire millions of Americans for contact tracing and coronavirus testing in order to address the country's historic <keyword id="6358907" type="UNKNOWN" weightage="60" keywordseo="unemployment">unemployment</keyword> rate — the worst it's been since the Great Depression — and said the Paycheck Protection Program (PPP) "didn't work".When it comes to returning to work, <a href="https://www.businessinsider.com/mark-cuban-ignore-billionaires-pushing-for-return-to-work-2020-3">Cuban said workers should listen to epidemiologists</a> and experts about the coronavirus — not billionaires. Read the original article on <a href="https://www.businessinsider.com/mark-cuban-government-1000-stimulus-checks-expire-if-not-spent-2020-5">Business Insider</a>

Mark Cuban wants the US government to give every household a $1,000 stimulus check every 2 weeks that expires if it's not spent within 10 days

<ul class="summary-list"><li><keyword id="6356662" type="UNKNOWN" weightage="60" keywordseo="singapore">Singapore</keyword>'s wealthiest man Li Xiting is already $4.3 billion richer this year. He's now worth $13.5 billion, according to Bloomberg data.</li><li>Xiting is the co-founder of a medical devices company, and he can thank his rising fortune from booming orders for medical equipment — particularly <keyword id="3939429" type="PERSON" weightage="60" keywordseo="ventilators">ventilators</keyword> — as nations try to deal with the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>. </li><li>A spokesperson told the South China Morning Post, about 100 countries had already made orders, including an order for 10,000 ventilators from Italy.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Insider's homepage for more stories</a>.</li></ul>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 <a href="https://www.scmp.com/business/companies/article/3081286/singapores-wealthiest-man-us1-billion-richer-every-month">South China Morning Post</a>, as the company's stock price "soared" by almost 50%.He's now worth $13.5 billion, according to Bloomberg data — which is a 47% increase. It equates to his fortune increasing on average by about $37.7 million every 24 hours.Demand for Shenzhen Mindray Bio-Medical Electronics' ventilators has boomed, as healthcare workers around the world struggle without enough to treat people. Ventilators — a medical device that helps patients breathe — are critical to treating COVID-19 patients whose lungs are assailed by the respiratory illness.And unlike the highly competitive nature of producing masks — <a href="https://www.insider.com/thousands-companies-register-make-masks-china-2020-2020-4">38,000 mask companies have registered</a> to make masks in China this year alone — it's a small market since building ventilators is technical and highly specialized.A spokesperson for the company told the <a href="https://www.scmp.com/business/companies/article/3081286/singapores-wealthiest-man-us1-billion-richer-every-month">South China Morning Post</a>: "Orders for our products increased sharply in March. We received orders from 100-odd countries for our medical devices to fight against the epidemic."The spokesperson said it received an order for about 10,000 ventilators from Italy, although the exact price of a ventilator wasn't clarified.Li isn't the only billionaire to do well out of the pandemic. Amazon founder Jeff Bezos fortune has grown substantially as Amazon sales surged, <a href="https://www.businessinsider.com/coronavirus-made-amazon-jeff-bezos-richer-but-not-other-billionaires-2020-3">Business Insider</a> previously reported. As of April 24, he's worth an estimated <a href="https://www.bloomberg.com/billionaires/">$145 billion</a>.Read the original article on <a href="https://www.businessinsider.com/singapore-richest-man-one-billion-richer-each-month-2020-4">Business Insider</a>

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

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Meet Colin Huang, who just stepped down as CEO of $100 billion Pinduoduo and whose wealth exploded by $25 billion in 2020

Lu-Hai Liang

Mark Cuban wants the US government to give every household a $1,000 stimulus check every 2 weeks that expires if it's not spent within 10 days

Jessica Snouwaert

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

James Pasley

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