More Good News For Morehouse Grads: They Likely Won't Owe Ta

Life just got a whole lot better for some recent college graduates. During the 2019 commencement address at Morehouse College, self-made billionaire Robert F. Smith announced that he was paying the student debt for the entire class.

The gift is estimated to be worth $40 million. It was the second gift that Smith announced during the commencement ceremony. Smith, who received an honorary doctorate from the college, also made a $1.5 million gift to the school to be used for scholarships and the development of a new park. A spokesperson for Morehouse College called it the biggest single gift in the school’s history.

Smith is the chairman and CEO of Vista Equity Partners, a private equity group that invests in software companies. Smith is ranked at #355 on Forbes’ Billionaires 2019 with an estimated worth of $5 billion. He is, according to a 2018 issue of Forbes, the country’s wealthiest African-American (yes, even more than Oprah).

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