Current:Home > ScamsBillionaire rains cash on UMass graduates to tune of $1,000 each, but says they must give half away -Wealthify
Billionaire rains cash on UMass graduates to tune of $1,000 each, but says they must give half away
View
Date:2025-04-15 13:31:20
MEREDITH, N.H. (AP) — The clouds weren’t alone in making it rain on the commencement ceremony at the University of Massachusetts Dartmouth last week. On stage, billionaire philanthropist Rob Hale surprised the graduating class of more than 1,000 by pointing to a nearby truck holding envelopes stuffed with cash.
Huddling under ponchos and umbrellas at the soggy ceremony, the graduates yelled and cheered, their mouths open wide, as Hale announced he was showering cash upon them. Security guards then lugged the cash-filled duffel bags onto the stage.
Hale told the students each would get $1,000. But there was a condition: They were to keep $500 and give the rest away.
Hale said the greatest joy he and his wife Karen had experienced in their lives had come from the act of giving.
“We want to give you two gifts. The first is our gift to you,” Hale told the students. “The second is the gift of giving. These trying times have heightened the need for sharing, caring and giving. Our community needs you, and your generosity, more than ever.”
The founder and chief executive of Granite Telecommunications, Hale is estimated by Forbes to have a net worth of $5.4 billion. He owns a minority stake in the Boston Celtics.
It’s the fourth year in a row that he has given a similar gift to a group of graduating students. Last year it was to students at UMass Boston, and before that it was to students at Roxbury Community College and Quincy College.
But the students at UMass Dartmouth had no idea in advance that Hale would be speaking. Graduating students that didn’t attend the ceremony missed out on the money. Hale told students his path to success had been rocky, after his previous company Network Plus filed for bankruptcy in 2002, during the dotcom crash.
“Have you ever met someone who lost a billion dollars before? Hale said, as he joked about giving the students career advice. “I may be the biggest loser you ever met, and you have to sit in the rain and listen to me.”
veryGood! (7)
Related
- Meet 11-year-old skateboarder Zheng Haohao, the youngest Olympian competing in Paris
- Biden to join fellow G7 leaders in Japan as China's aggression pushes Tokyo past pacifism
- Photos show Kim Jong Un and his daughter inspecting military spy satellite
- Pink and Her Kids Get the Party Started on 2023 iHeartRadio Music Awards Red Carpet
- US auto safety agency seeks information from Tesla on fatal Cybertruck crash and fire in Texas
- Grimes Shares Update on the Name of Her and Elon Musk's Daughter
- Sephora 24-Hour Flash Sale: 50% Off KVD Beauty, Fresh, BareMinerals, Peter Thomas Roth, and More
- Concrete Evidence That Vanessa Hudgens’ Fiancé Cole Tucker Manifested Their Romance
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- A scientist and musician are collaborating to turn cosmic ray data into art
Ranking
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- The father of the cellphone predicts we'll have devices embedded in our skin next
- Lukas Gage Jokes He “Needed to Be Tamed” Before Chris Appleton Romance
- Sephora 24-Hour Flash Sale: 50% Off Tula, Tarte, and More
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Transcript: Robert Gates, former Defense Secretary, on Face the Nation, May 21, 2023
- Tonga volcano eruption put holes in the atmosphere, sent plasma bubbles to space and disrupted satellites
- Flawed chatbot or threat to society? Both? We explore the risks and benefits of AI
Recommendation
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
Harry Styles Called Emily Ratajkowski His Celebrity Crush Years Before They Kissed in Tokyo
Here’s What Really Went Down During Vanderpump Rules Season 10 Reunion Taping
Biden to join fellow G7 leaders in Japan as China's aggression pushes Tokyo past pacifism
'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
T3 Hair Tools Sale Last Day: 65% Off Hair Dryers, Flat Irons, Hot Rollers, Curling Irons, and More
Here’s What Really Went Down During Vanderpump Rules Season 10 Reunion Taping
Outdoor Home Decor & Furniture to Make Your Backyard, Balcony or Patio Feel Like a Great Escape