The head honchos of Australia's most profitable businesses gathered together to raise money for homeless people by partaking in the 'CEO Sleepout'.

But the wealthy bosses were slammed after it emerged the men and women were given virtual reality headsets to simulate homelessness instead of actually sleeping rough on the streets.

Footage of a row of CEOs wearing the expensive headsets as they experienced 'what it was like to be homeless' through futuristic software sparked fury from dozens of critics who slammed them as 'out of touch' with reality.

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The wealthy men and women were filmed wearing virtual reality goggles as part of the CEO Sleepout

Footage of a row of CEOs wearing the expensive headsets as they experienced 'what it was like to be homeless' through futuristic software sparked fury from dozens of critics who slammed them as 'out of touch' with reality

Dozens of Twitter users quickly slammed the charity for spending money on VR goggles

One sarcastic user implied the virtual world is no where near as awful as the reality for homeless people

The caption of the video, posted to Twitter, read: 'Our Sydney CEOs using virtual reality to get a glimpse of the realities faced by the people who experience this everyday.'

But despite the noble intentions behind the cause, the charity was instantly condemned online by users who were unimpressed by the philanthropists wearing VR goggles instead of taking to the streets.

'When you want to be woke but don't actually want to mingle with the dirty poors,' one Twitter user joked.

'Lord forbid they go anywhere near a real homeless person,' another wrote.

Others encouraged the wealthy business leaders to live in the 'real' world where people are forced to sleep nightly on Sydney's cold streets.

'Lord forbid they go anywhere near a real homeless person,' one person wrote

This Twitter user pointed out the money spent on expensive software could have been used to help homeless people

The St Vincent De Paul charity aims to raise money and awareness for homeless people in Australia

Prime Minister Malcolm Turnbull (pictured) attended the CEO Sleepout in 2016

'Um, maybe with what you paid for the VR headsets you could have fed, bathed and housed ACTUAL homeless people,' one woman said.

Another sarcastically wrote: 'Yes! Dealing with the virtual cold, the virtual violence, the virtual hunger, the virtual untreated illness, the virtual despair...'

The businessmen and women involved in the annual CEO Sleepout includes John O'Sullivan, CEO of Tourism Australia, Annabel Spring, Group Executive for Wealth Management at Commonwealth Bank, Tobi Pearce, partner of Kayla Istines and CEO of the Bikini Body Training Company and even Prime Minister Malcolm Turnbull.

During the event CEOs from across Australia 'sleep rough' on cardboard and in sleeping bags on the streets of Sydney, Melbourne, Adelaide, Perth, Darwin, Gold Coast, Launceston, Canberra, Newcastle and Wollongong.

Organised by St Vincent De Paul, it aims to raise millions of dollars to help solve the homelessness crisis.

So far in 2017 the initiative has raised well over $5 million from donations.

Daily Mail Australia has contacted the organisers of the CEO Sleepout for comment.

During the event CEOs from across Australia 'sleep rough' on cardboard and in sleeping bags on the streets of Sydney, Melbourne, Adelaide, Perth, Darwin, Gold Coast, Launceston, Canberra, Newcastle and Wollongong