Billionaire surprises graduates with $1000 cash each at commencement but it comes with a condition

On May 16, 2024, during the graduation ceremony at the University of Massachusetts Dartmouth, billionaire Robert Hale, a guest speaker, took the stage. Amid torrents of pouring rain, the philanthropist made an announcement that left a cohort of 1,200 graduates present there, goggle-eyed with surprise.

Robert Hale is the founder and CEO of the wholesale telecommunications provider Granite Telecommunications. He was invited as a guest speaker at the ceremony along with his wife, Karen Hale. As he took the stage, he was presented with the honor of UMass Dartmouth Chancellor's Medal for his philanthropy work.

Addressing the crowd of students ducked under umbrella caps, Hale shared his experiences as a businessman. He recollected how he lost $1 billion nearly overnight, and urged them not to let failure define them. After articulating some more insights on resilience, failure, and perseverance, the speaker pointed to his wife and told the army of students, that for them, "the greatest joys" they derive in their life is from "the gift of giving." "Our community and our world need our help now more than ever," added Hale.

The magnate followed his speech with an announcement that left the students and their families stupefied in amazement. "Each of you is getting $1,000 cash," he told the Class of 2024. Students cheered and hooted loudly. However, there was a catch to this surprise gift. "The first is the gift to you and the second is the gift of giving," he explained.

 Hale said that each student would receive one $500 envelope to keep as a gift, and a second $500 envelope to give to someone in need or a charity or cause close to them. The respective envelopes were labeled as either "gift" or "give." With this, Hale pointed to the security guards who were seen stepping on the stage, carrying two duffle bags that contained cash-filled envelopes.

Hale and his wife had brought around three thousand customized envelopes that arrived loaded in a truck. The customization work was carried out by the students of Green Elementary School in Fall River and Dali Elementary School in New Bedford, as he explained in the speech. "These trying times have heightened the need for sharing, caring, and giving," Hale concluded his commencement speech, adding, "Our community and our world need our help now more than ever."

This, however, is not the first time Hale has displayed such generosity towards the young generation of students. According to CBS News, he gave $1,000 to all 2,523 graduates at the University of Massachusetts Boston in 2023. Plus, in 2021, he gifted nearly the same amount to 230 Quincy College graduates.