This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2019/05/19/education/morehouse-commencement-robert-f-smith.html
The article has changed 12 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Morehouse Class of ’19, Congratulations: Your Student Loans Will Be Paid Off | |
| (30 minutes later) | |
| Addressing Morehouse College’s class of 2019, a man who is richer than Oprah Winfrey made a grand gesture straight out of the television mogul’s playbook. | Addressing Morehouse College’s class of 2019, a man who is richer than Oprah Winfrey made a grand gesture straight out of the television mogul’s playbook. |
| “My family is going to create a grant to eliminate your student loans,” the speaker, Robert F. Smith, said on Sunday morning in a commencement address that brought the approximately 400 students in caps and gowns to their feet. | “My family is going to create a grant to eliminate your student loans,” the speaker, Robert F. Smith, said on Sunday morning in a commencement address that brought the approximately 400 students in caps and gowns to their feet. |
| “This is my class,” he said. | “This is my class,” he said. |
| In January, Mr. Smith, a billionaire, donated $1.5 million to the school to fund student scholarships and a new park on campus. He received an honorary degree from the university at the graduation on Sunday. | In January, Mr. Smith, a billionaire, donated $1.5 million to the school to fund student scholarships and a new park on campus. He received an honorary degree from the university at the graduation on Sunday. |
| The new gift he pledged on Sunday totals about $40 million, according to The Atlanta Journal-Constitution. | The new gift he pledged on Sunday totals about $40 million, according to The Atlanta Journal-Constitution. |
| A private equity titan, Mr. Smith founded Vista Equity Partners in 2000. In 2015, after making a fortune in software, he was named the nation’s richest African-American by Forbes. | A private equity titan, Mr. Smith founded Vista Equity Partners in 2000. In 2015, after making a fortune in software, he was named the nation’s richest African-American by Forbes. |
| According to Forbes, Mr. Smith’s estimated net worth is $4.4 billion, making him richer than Ms. Winfrey, who previously held the title of the wealthiest black person. | According to Forbes, Mr. Smith’s estimated net worth is $4.4 billion, making him richer than Ms. Winfrey, who previously held the title of the wealthiest black person. |
| Mr. Smith studied chemical engineering at Cornell University and finance and marketing at Columbia Business School, according to Vista Equity Partners. | Mr. Smith studied chemical engineering at Cornell University and finance and marketing at Columbia Business School, according to Vista Equity Partners. |
| In recent years, Mr. Smith has made several high-profile philanthropic gifts. He started the Fund II Foundation, which is focused in part on preserving the African-American experience. He is also the only African-American to sign the Giving Pledge. Cornell named its chemical and biomolecular engineering school for him after he announced a $50 million gift. | In recent years, Mr. Smith has made several high-profile philanthropic gifts. He started the Fund II Foundation, which is focused in part on preserving the African-American experience. He is also the only African-American to sign the Giving Pledge. Cornell named its chemical and biomolecular engineering school for him after he announced a $50 million gift. |
| In an interview with the The Journal-Constitution, Tonga Releford, whose son Charles Releford III is a member of the Morehouse class of 2019, estimated that her son had about $70,000 in loans. | In an interview with the The Journal-Constitution, Tonga Releford, whose son Charles Releford III is a member of the Morehouse class of 2019, estimated that her son had about $70,000 in loans. |
| “I feel like it’s Mother’s Day all over again,” she said. | “I feel like it’s Mother’s Day all over again,” she said. |