LibreOffice is free primarily because it's open-source software, developed and maintained by a global community of contributors who believe in the principle of free and accessible software.
Basically, volunteers develop the software.
The organisation has some corporate sponsors.
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Microsoft Office 365 or LibreOffice
Microsoft Office 365 is relatively cheap per person if you pay for the Family version.
If you only want to use a word processor occasionally it is probably not worth paying for Office 365.
LibreOffice is developed by volunteers and will not have the support or features of the professionally developed Office 365.