At the graduation ceremony held this week at the University of Massachusetts Dartmouth in Massachusetts, students not only listened to a billionaire’s speech but also received a generous surprise gift to encourage them to start their own businesses.
The billionaire in question is Robert Hale, Jr., founder and CEO of Granite Telecommunications, headquartered in Quincy. During the ceremony on Thursday, he announced that each graduating student walking across the stage would receive an envelope valued at $500 as a gift. The students erupted in excitement at his words.
Following this, Hale then gave each graduate a second envelope, also containing $500, which he said was to be given to those “in need.”
Hale had these envelopes stuffed into two large bags he carried with him onto the stage. He told the graduates that for him and his wife, “our greatest joy in life is ‘giving.'”
“In these challenging times, we need to share, care, and give more than ever,” Hale said. “Our community and the world need our help now more than ever before.”
A school spokesperson told Fox Business Network that a total of 1,200 graduates received two checks totaling $1,000, with 40% of them being first-generation students (meaning their parents did not attend college).
The graduation ceremony took place amid pouring rain. The school, in a press release, stated that Hale shared about his career, including nearly overnight losses of $1 billion, and urged the students not to let failure define them, being an example of resilience in facing life.
According to Forbes, Hale is also a member of the ownership group of the Boston Celtics, with an estimated net worth of $5.4 billion.