Each graduating pupil current on the Could 16 graduation for the College of Massachusetts at Dartmouth (UMass) obtained an sudden bonus once they bought their levels: a $1,000 money reward from billionaire Robert Hale Jr, the founder and CEO of Granite Telecommunications.
There have been two necessities although — the scholar needed to be there, in individual, on the graduation ceremony to obtain the cash. Additionally they needed to give half of the reward away to a charitable group.
Nevertheless, not all graduates have been current on the graduation ceremony.
A New York Times article printed earlier this week famous that about 20% of the 1,200-person graduating class was absent and missed their likelihood to obtain a $1,000 reward from Hale.
The money within the unclaimed envelopes went towards a scholarship fund in Hale’s identify, bringing his complete donation to $1.2 million.
“The message I wish to be delivered for individuals who do not attend by alternative is, ‘Hey, this can be a celebration of 4 years of exhausting work, and you have to present up,'” Hale advised the Occasions.
Associated: ‘Wanted to Cry for Joy’: MacKenzie Scott Donates $65M Gift to Housing Nonprofit
Every UMass graduate obtained two envelopes full of money: a “reward” envelope containing $500 for themselves and a “give” envelope with one other $500 for them to donate to folks or charities in want.
“We wished to provide [the graduates] an actual reward to have a good time their perseverance, but in addition [encourage] giving to a company or one that might use it to create that seed of philanthropy,” Hale told People.
NEW: College of Massachusetts Dartmouth speaker Robert Hale Jr. provides out $1000 every to 1,200 college students throughout their commencement.
The billionaire handed out $1.2 million in complete to the graduates as they crossed the stage to get their levels.
Here is the catch. The scholars… pic.twitter.com/T76BPWk5hG
— Collin Rugg (@CollinRugg) May 18, 2024
Associated: Melinda French Gates Announces Open Call for $250 Million Fund. Here’s Who Can Apply.
This is not the primary time Hale has adopted this “give” and “reward” methodology of giving. He first initiated it four years ago as a solution to reward graduates for his or her exhausting work on the graduation ceremony at Quincy School, when graduates have been taking COVID-era precautions. He has since rewarded graduates of Roxbury Group School, and, for the past two years, graduates of the College of Massachusetts at Dartmouth, in the identical approach.
Hale says that previously 4 years, reward recipients have donated cash from their “give” envelopes to native animal shelters and again to their schools. One single mother with 5 children even gave her kids $100 every from the “give” envelope, Hale advised Individuals.
Hale advised the New York Occasions he plans to do one other shock giveaway quickly at one other faculty. Forbes lists his real-time net worth as $5.8 billion on the time of writing.
