Evan Spiegel and Miranda Kerr Erase $550 Million in California Medical Debt

Snap CEO Evan Spiegel and Miranda Kerr funded Undue Medical Debt to erase $550 million in medical debt for over 261,000 Californians.

Evan Spiegel and Miranda Kerr Erase $550 Million in California Medical Debt Snap CEO Evan Spiegel and Miranda Kerr funded Undue Medical Debt to erase $550 million in medical debt for over 261,000 Californians. Aaron Rafferty June 26, 2026 Key Takeaways: A gift from Snap CEO Evan Spiegel and Miranda Kerr erased more than $550 million in medical debt for over 261,000 Californians, Undue Medical Debt announced June 25 . The nonprofit buys debt in bulk for pennies on the dollar, so roughly every $10 donated cancels about $1,000 in medical debt. Recipients do not apply and cannot be billed back, with notification letters reaching families across 10 top counties starting in mid-July. Undue Medical Debt announced on June 25 that a gift from Snap chief executive Evan Spiegel and model and KORA Organics founder Miranda Kerr has erased more than $550 million in medical debt for over 261,000 people across California. Relief letters start arriving in mid-July. The nonprofit buys medical debt in bulk from hospitals, physician groups, and collection agencies for pennies on the dollar, then cancels it. Roughly every $10 donated wipes out about $1,000 in debt, which is how a single gift stretches to half a billion dollars. Undue Medical Debt says it has erased more than $40 billion for over 27 million families across all 50 states since 2014. Recipients cannot request the relief and cannot be billed back, because the nonprofit can only cancel debt it acquires. People qualify when they earn up to four times the federal poverty level, around $100,000 for a family of four, or carry medical debt worth 5% or more of their income. San Diego County alone accounts for about $99 million in relief for roughly 40,369 people. Medical debt is the leading cause of bankruptcy in the United States and