A University of Massachusetts Dartmouth billionaire commencement speaker surprisingly gifted $1,000 to each graduate, with an added lesson as a catch.
After Robert Hale Jr., the founder and CEO of Granite Telecommunications, received the UMass Dartmouth Chancellor’s Medal for his “incredible philanthropy work,” he told the crowd that the greatest joy he and his wife, Karen, have had in life has “been the gift of giving,” the university reported.
“Our community and our world need our help now more than ever,” Hale said, following up with the surprise announcement that each graduate who crossed the stage would receive an envelope containing $500 to keep for themself.
The businessman, who has a $5.4 billion net worth, according to Forbes, presented two large duffle bags of cash on stage.
Hale then said the graduates would receive a second envelope with $500, intended for “someone in need or a charity or cause close to them,” the school stated.
“These trying times have heightened the need for sharing, caring, and giving,” the billionaire said to the graduates. “Our community needs you and your generosity more than ever.”
A school spokesperson told Fox Business that 1,200 graduates received the generous gifts.
“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,” UMass Dartmouth said.