finance
Snap CEO and Wife Donate Millions to Erase $550 Million in Medical Debt
Evan Spiegel and Miranda Kerr gave an undisclosed sum to Undue Medical Debt, relieving obligations for 261,000 Californians. The gift targets residents earning at or below 400 percent of the federal poverty level or carrying medical debt exceeding 5 percent of income.
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Los Angeles TimesAudio version
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Snap Chief Executive Evan Spiegel and his wife, supermodel Miranda Kerr, have helped pay off $550 million in medical debt for more than 261,000 Californians. The couple made a multimillion-dollar donation to Undue Medical Debt, a nonprofit that buys medical debt in bulk from hospitals and collection agencies for pennies on the dollar.
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County residents received the largest share, with roughly $99 million cleared for 40,369 people. Los Angeles County saw $26.7 million in relief covering 17,466 residents. Californians whose debts were retired will receive letters from the nonprofit starting in mid-July.
How the Program Works Every $10 donated erases an average of $1,000 in obligations. Recipients must meet income or debt-to-income thresholds set by the organization.
“When someone you love is sick. All you want to do is focus on helping them get better," said Kerr in a video with Spiegel. Undue Medical Debt President and Chief Executive Allison Sesso said one in four U.S. adults carries medical debt.”
2022 the couple paid off student loans for the entire graduating class at Otis College of Art and Design. Spiegel also contributed $5 million in immediate aid after the January 2025 Los Angeles County wildfires. The nonprofit reports it has eliminated more than $40 billion in medical debt nationwide.
