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    Morehouse commencement speaker to pay off Class of 2019’s student loans

    Alex HaynesBy Updated:No Comments1 Min Read

    Billionaire Robert F. Smith, who received an honorary doctorate at Morehouse College’s Sunday morning graduation exercises, had already announced a $1.5 million gift to the school.

    What We Know:

    • Robert Frederick Smith is an American businessman, investor and philanthropist. A former chemical engineer and investment banker, he is the Founder, Chairman and CEO of private equity firm Vista Equity Partners. In 2018, Smith was ranked by Forbes as the 163rd richest person in America.
    • Smith has an estimated net work of $5,000,000,000 (5 billion dollars).
    • During his remarks in front of the nearly 400 graduating seniors this morning, the billionaire technology investor and philanthropist surprised some by announcing that his family was providing a grant to eliminate the student debt of the entire Class of 2019.

    “This is my class,” he said, “and I know my class will pay this forward.”

    • The grant is estimated at $40 million dollars.

    This story will be updated here.

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    Alex Haynes is Editor-At-Large/NYC Editor at Urban Newsroom, Executive Editor at UNR's Black Alerts and the host of Boss Mornings and Unmuted Nation. Alex joined Urban Newsroom in 2010 and contributes regular op-ed and editorial pieces while advising the columnist and contributing staff.

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