Snap Co-Founder Evan Spiegel and Miranda Kerr Donate $550M to Erase Medical Debt

Snap co-founder Evan Spiegel and his wife Miranda Kerr have made a $550 million donation to address medical debt across California. The contribution is expected to relieve financial burdens for more than 261,000 residents struggling with unpayable medical bills. The initiative follows a philanthropic approach modeled after the giving strategy of MacKenzie Scott, Jeff Bezos's ex-wife. Nonprofit organization Undue Medical Debt will manage and distribute the funds to eligible Californians. The effort aims to provide lasting financial relief to vulnerable individuals and families across the state.