What’s Good: Billionaire Pays Off Graduating Class Student Loans
I am sure if you are in any kind of student loan debt like me, you wish you were part of this graduating class.
Billionaire Robert F. Smith is the founder and CEO of a private equity firm called Vista Equity Partners. I am sure you have heard of him because Forbes ranked him as the 163rd richest person in America last year. He is one of only 13 African American billionaires in the world and worth up to $5 billion!
Still haven't heard of him? Well, you have now. Smith recently donated $1.5 million to a historically black school in Atlanta called Morehouse College. Yesterday, he received an honorary doctorate from the college and he spoke in front of about 400 graduating students. During the speech, he surprised all the graduates by announcing that he was making another donation to pay off the ENTIRE graduating class's student loans! Talk about a lucky class!
After taking a second to make sure this was not a joke, the class went nuts! I mean we are talking about a massive amount. Like up to $40 million of student debt and Morehouse College says it is the largest single donation the school has ever received!