Apple pledges $2.5 billion to fight California housing crisis

Tim Cook.
(Image credit: Getty Images)

Apple announced on Monday it is committing $2.5 billion to combat the housing crisis in California.

This is a pledge of "unparalleled financial commitment to affordable housing," Gov. Gavin Newsom (D) said. There is not enough affordable housing throughout the state, but the Bay Area is especially unaffordable thanks largely to the highly paid tech workers driving up the price of the limited number of homes on the market. Earlier this year, Google and Facebook said they will each give $1 billion to the effort.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Catherine Garcia, The Week US

Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.