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
Image via AP Photo/Jeff Chiu, file

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

(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