Each graduating scholar current on the Could 16 graduation for the College of Massachusetts at Dartmouth (UMass) acquired an sudden bonus once they obtained their levels: a $1,000 money present from billionaire Robert Hale Jr, the founder and CEO of Granite Telecommunications.
There have been two necessities although — the coed needed to be there, in individual, on the graduation ceremony to obtain the cash. Additionally they needed to give half of the present away to a charitable group.
Nonetheless, not all graduates have been current on the graduation ceremony.
A New York Times article printed earlier this week famous that about 20% of the 1,200-person graduating class was absent and missed their likelihood to obtain a $1,000 present from Hale.
The money within the unclaimed envelopes went towards a scholarship fund in Hale’s identify, bringing his complete donation to $1.2 million.
“The message I wish to be delivered for many who do not attend by alternative is, ‘Hey, it is a celebration of 4 years of laborious work, and you have to present up,'” Hale advised the Instances.
Associated: ‘Wanted to Cry for Joy’: MacKenzie Scott Donates $65M Gift to Housing Nonprofit
Every UMass graduate acquired two envelopes filled with money: a “present” envelope containing $500 for themselves and a “give” envelope with one other $500 for them to donate to folks or charities in want.
“We wished to offer [the graduates] an actual present to have a good time their perseverance, but additionally [encourage] giving to a company or one that may use it to create that seed of philanthropy,” Hale told People.
NEW: College of Massachusetts Dartmouth speaker Robert Hale Jr. offers out $1000 every to 1,200 college students throughout their commencement.
The billionaire handed out $1.2 million in complete to the graduates as they crossed the stage to get their levels.
This is the catch. The scholars… pic.twitter.com/T76BPWk5hG
— Collin Rugg (@CollinRugg) May 18, 2024
Associated: Melinda French Gates Announces Open Call for $250 Million Fund. Here’s Who Can Apply.
This is not the primary time Hale has adopted this “give” and “present” technique of giving. He first initiated it four years ago as a strategy to reward graduates for his or her laborious work on the graduation ceremony at Quincy School, when graduates have been taking COVID-era precautions. He has since rewarded graduates of Roxbury Neighborhood School, and, for the past two years, graduates of the College of Massachusetts at Dartmouth, in the identical manner.
Hale says that previously 4 years, present recipients have donated cash from their “give” envelopes to native animal shelters and again to their schools. One single mother with 5 children even gave her kids $100 every from the “give” envelope, Hale advised Folks.
Hale advised the New York Instances he plans to do one other shock giveaway quickly at one other college. Forbes lists his real-time net worth as $5.8 billion on the time of writing.