(TIME) — In stunning commencement speech, billionaire promises to pay off student debt for entire graduating class.
Billionaire Robert F. Smith stunned 2019 Morehouse College graduates when he pledged to pay off their student loan debt through grants.
Robert F. Smith, this year’s commencement speaker, made the announcement Sunday morning while addressing nearly 400 graduating seniors of the all-male historically black college in Atlanta. Smith is the Founder and CEO of Vista Equity Partners, a private equity firm that invests in software, data, and technology-driven companies.
“On behalf of the eight generations of my family that have been in this country, we’re gonna put a little fuel in your bus,” Smith told the graduates. “This is my class, 2019. And my family is making a grant to eliminate their student loans.”