Over a thousand students from the University of Massachusetts Dartmouth were shocked with envelopes full of cash as part of a wealthy philanthropist’s surprise graduation ceremony, but there was a catch to the gift.
Before security guards dragged cash-filled duffel bags onto the stage, Rob Hale startled the graduating class by pointing to a neighboring vehicle holding envelopes full with cash.
The pupils were each given $1,000 by Hale, the founder and CEO of Granite Telecommunications, whose net worth is estimated by Forbes to be $5.4 billion.
However, there was a catch: they had to donate the remaining $500 and retain $500.
Hale, who has a part ownership in the Boston Celtics, stated that giving has brought him and his wife Karen the most happiness in their life.
“We have two gifts for you. The first is our gift to you, the pupils were informed by Hale. The ability to give is the second. The desire for giving, caring, and sharing has increased during these difficult times. More than ever, our community needs you and your contributions.
He has presented a similar gift to a group of graduating students for the past four years. Prior to that, it was given to students at Quincy College and Roxbury Community College. It was given to UMass Boston students last year.
However, the UMass Dartmouth students were unaware that Hale would be speaking beforehand. The money was lost by graduating students who were not present at the event. Hale informed the students that his former company, Network Plus, had filed for bankruptcy in 2002 after the dotcom meltdown, making his road to success difficult.
“Have you previously met someone who lost $1 billion? Hale stated, making light of his intention to provide the students career guidance. “You have to sit in the rain and listen to me, even though I might be the biggest loser you’ve ever met.”
