A billionaire philanthropist has made headlines by gifting bundles of money to around 1,000 graduates at a university graduation ceremony in the United States.
According to AP News on May 21, Robert Hale gave $1,000 each to around 1,000 graduates at the Dartmouth College commencement ceremony in Massachusetts on May 16.
Hale, the founder of Granite Telecommunications, has an estimated net worth of $5.4 billion according to Forbes.
He explained that he and his wife Karen have found their greatest joy in life through giving and wanted to share that feeling with the students. This led him to start gifting cash to graduates four years ago.
Hale explained his reason for the donation, saying, “I started giving during the COVID-19 pandemic when students had little to celebrate,” adding, “I wanted to convey that it’s okay to take risks and fail in life.”
At the commencement ceremony, Hale said, “We want to give you two gifts. One is the gift we are giving, and the other is the gift of giving.”
He emphasized, “In difficult times like now, the need for sharing, caring, and giving is greater, and our community needs your generosity more than ever.”
Hale encourages the students to use half of the $1,000 for themselves and donate the other half to help others.
While acknowledging that there’s no way to force students to donate half of the $1,000, he said, “I believe that the majority of people do the right thing and feel happy about it.”
He also recalled his struggles, saying, “I might be the biggest loser you’ve ever met,” referring to his company going bankrupt in 2002 due to the dot-com bust.
Joshua Bernardin, a graduate who received the gift, said, “Everyone was stunned for a few seconds, and then everyone was happy. I haven’t decided what to do with the $500 yet, but I plan to donate the other $500 to the theater and choir I participated in at the university.”
Meanwhile, Hale also gifted stacks of cash to the graduates at Boston University in Massachusetts last year. He plans to donate more next year, but it’s still uncertain which university’s graduation ceremony he will attend.
