April Fool's joke or free rent for life? Toss CEO's pledge stirs buzz

Lee Seung-gun, founder and CEO of Viva Republica, which operates fintech platform Toss / Courtesy of Viva Republica

Some April Fool’s jokes don’t end up as jokes.

For Lee Seung-gun, founder of fintech platform Toss, they have a way of becoming reality.

On Wednesday, April Fool's Day, Lee notified employees that he would sell his own home and use the proceeds to cover the rent and loan interest of 100 Toss staff members — for life.

“Even before founding the company, I’ve felt there was something deeply unfair about a system where some build wealth through real estate while others struggle just to afford housing,” he wrote, adding that he wanted to finally act on that belief.

At first glance, it sounded like the kind of over-the-top promise that is easy to laugh off and forget. Even inside the company, it remains unclear for now whether it will actually come true.

But Lee, who heads Viva Republica, has a track record of turning improbable April Fool’s Day pledges into reality.

In 2022, he announced he would give away 20 Tesla vehicles. Employees took it as a prank until it proved “half true.” Three days later, 10 employees were selected by lottery to receive Teslas on one-year leases, with the company covering every cost from insurance to taxes.

In 2025, after Toss posted its first annual profit since its founding 11 years ago, Lee followed through on his words again by sending 100 employees on a three-day trip to Okinawa, Japan, with all expenses paid out of his own pocket.

That track record has put this year’s promise under close watch.

If it goes ahead, eligibility will be limited to employees currently paying rent or loan interest. Even those who already own property can apply, as long as they are still servicing a loan.

Applications close at 9 p.m. Wednesday, with 100 recipients to be selected by lottery. Results are expected before midnight, and selected individuals will begin receiving full monthly support for rent or loan interest from this month. The support will supposedly continue until they secure a home of their own.