Billionaire announces once in a lifetime gift for Morehouse graduates

Local News

ATLANTA, Ga. (WSAV)

You can bet this is one graduation gift that won’t be topped.

And, it took hundreds of Morehouse graduates by surprise.

During Saturday’s commencement ceremony in Atlanta, billionaire Robert F. Smith told graduating seniors he would wipe out their student debt.  The cost — about 40-million dollars.

Smith encouraged the new graduates to pay it forward, and do something to ensure that every class has the same opportunity going forward.  

Smith, a Cornell alum, founded Vista Equity Partners, which invests in tech companies.

Forbes Magazine estimates his net worth to be more than 4 billion dollars.
 

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