Billionaire Robert F. Smith received an honorary doctorate at Morehouse College over the weekend and during his remarks, he had a huge surprise for the graduating class.
After announcing a $1.5 million gift to the school, the technology investor and philanthropist revealed that “his family was providing a grant to eliminate the student debt of the entire Class of 2019.”
A rep for Morehouse College states that Smith is pledging to donate $40 million to the 400 graduates. The total debt still has not yet been confirmed. According to President David Thomas, no one had any idea this was coming.
“People were stunned. If you look at any other film footage, you will see the students turning to each other. What did he say? Did he say what I think he said,” Thomas told CBS News correspondent Mark Strassmann. “This will allow them to pursue their dreams … As opposed to serving the debt.”
“Don’t sit around and wait for someone to anoint you ready for the next challenge. Don’t wait your turn. Bet on yourself and have the confidence to stand up and say, ‘my time is now.’”#MorehouseGrad2019 pic.twitter.com/icVYlZY7sc— Robert F. Smith (@RFS_Vista) May 20, 2019
The graduating class erupted with joy as they cheered and celebrated. What a blessing??!