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A billionaire philanthropist gifted every member of the graduating class at the University of Massachusetts at Dartmouth with $1,000 in cash last week.
Robert Hale Jr., the founder and CEO of wholesale telecommunications provider, Granite Telecommunications, surprised the graduates on May 16 by announcing they each would receive two envelopes, each containing $500 in cash—one to keep for themselves and the other to give to someone else in need or to a favorite charity, according to a new release from the university. His gift amounted to a total of $1.2 million.
“Our community and our world need our help now more than ever,” he told the thrilled graduates.
Hale’s net worth is $5.4 billion, according to Forbes. He received UMass Dartmouth Chancellor’s Medal “for his incredible philanthropy work,” the university’s news release said. “Hale told the crowd about his career, including losing $1 billion nearly overnight, and urged them not to let failure define them, using his own life as an example of resilience and perseverance."
