Apple Commits $2.5B to Combat California Housing Crisis

The sum from Apple eclipses pledges by fellow Silicon Valley giants Google and Facebook for addressing the lack of affordable housing in a region where affluent tech workers have helped drive up the cost of homes.

  • Published 4 November 2019

(AP) - Apple on Monday said it will put up $2.5 billion toward easing California's housing crisis. The sum from Apple eclipses pledges by fellow Silicon Valley giants Google and Facebook for addressing the lack of affordable housing in a region where affluent tech workers have helped drive up the cost of homes. Apple's commitment Monday includes a $1 billion statewide fund creating an "open line of credit" for the state to build new homes… Read at AP News