Airbnb commits $500 million to free housing for people in distress
Airbnb will spend $500 million over five years to provide one million free nights of housing for disaster victims and others in need. The initiative aims to make Airbnb the largest provider of free housing, surpassing established nonprofits.
Airbnb announced a plan to spend $500 million over the next five years to provide one million free nights of housing for people in distress. The initiative, part of Airbnb.org, a nonprofit established after Hurricane Sandy in 2012, covers natural disasters, refugees, medical stays, and domestic violence victims. Airbnb.org currently handles approximately 170 disasters a year. The company aims to become the largest organization providing free housing, surpassing entities like the Ronald McDonald House. CEO Brian Chesky stated that the decision was made in the interest of shareholders, arguing that it is good business to do good in the world. He noted that Airbnb previously housed 20,000 Afghan refugees, 100,000 Ukrainian refugees, and provided 70,000 free nights in Los Angeles following fires. Chesky argued that providing free housing is a responsible use of corporate resources, leveraging the company's core competency in housing to serve those in need. The initiative was originally conceived in 2008, before Airbnb launched, with an email subject line of 'Airbnb.org'.