Billionaire Offers $1K to Mass. College Graduates for Second Year in a Row
He instructed the students to give $500 of the gift to someone in need
Hale's net worth is reportedly $5.8 billion, and he is the founder and CEO of Granite TelecommunicationsRobert Hale Jr. offered a touching gift to graduating seniors at Bridgewater State University in Massachusetts.
Hale, 58, an honorary degree recipient at the university, offered $1,000 to each graduate in the class of 2025 at the school's commencement ceremony on May 16, per Boston.com.
'I have one more thing to share," Hale said after his commencement address.
Guards then emerged from a nearby security-flanked black SUV with duffel bags of cash. Each bag was packed with individual envelopes containing $500 in cash, the outlet reports.
Hale explained that each graduate would receive two envelopes. 'One is for you,' Hale told the more than 1,400 graduating seniors in a video of the graduation. 'The other is for someone in need.'
This is the billionaire's second time offering this financial gift to graduating college students. In 2024, he awarded the same funds to graduates of the University of Massachusetts at Dartmouth.
The founder and CEO of Granite Telecommunications added that his philanthropic efforts have been a highlight of his career thus far.
'The turmoil in our country has increased the need for caring, sharing, and compassion,' he said during the speech on May 16. 'Our community needs your help, your leadership, and your empathy more than ever.'
Students from the Hancock and Angelo Elementary Schools in Brockton, Mass., decorated the envelopes inside the duffel bags.
"One of the greatest joys in life has been the joy of giving,' Hale said. 'We want to share that experience with you.'
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Hale concluded the address with a nod to the university's mascot. 'Every day is a great day to be a Bear.'
Hale has donated more than $400 million in support of cancer research, per BSU.
Hale's net worth is estimated to be at $5.8 billion, per Forbes. He founded Granite, a telecommunications provider based in Quincy, Mass., in 2002, less than six months after his previous company filed for bankruptcy.
'Rob's gift embodies the spirit of service and leadership we strive to instill in our students,' BSU President Fred Clark said in a statement to The Enterprise. 'His example inspires our graduates to lead with compassion and purpose.'
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