A billionaire gave college grads $1000 each at commencement – but they can only keep half

USA TODAY

Mary Walrath-Holdridge and Peter Blandino

May 20, 2024

Graduates at the University of Massachusetts Dartmouth received more than flowers and a commemorative degree frame this weekend when a commencement guest surprised them with envelopes full of cash.

Granite Telecommunications founder and CEO Robert Hale, Jr. attended the ceremony on Saturday in anticipation of receiving the Chancellor’s Medal for his work in local philanthropy. True to form, Hale took the opportunity to share some more of his more than $5 billion fortune, reported The Standard Times, part of the USA TODAY Network.

“These trying times have heightened the need for sharing, caring and giving,” Hale told the 1,200 graduation students. “We want to give you two gifts: the first is our gift to you, the second is the gift of giving.”

Grads soon found out that the truck near the stage was filled with duffle bags containing envelopes with $500 cash in $100 bills. Each graduate received two of the envelopes: one for themselves, and one for giving to an organization or person need.

 “Our community and our world need our help now more than ever, Hale told the audience. ”The greatest joys we’ve had in our life have been the gift of giving.”

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