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Black Billionaire, Robert F. Smith, Pays Off Student Loans Of 2019 Morehouse College Graduates

Billionaire Robert F. Smith, who received an honorary doctorate at Morehouse College’s Sunday morning graduation exercises, had already announced a $1.5 million gift to the school.

But during his remarks in front of the nearly 400 graduating seniors, the technology investor and philanthropist surprised some by announcing that his family was providing a grant to eliminate the student debt of the entire Class of 2019. 

“This is my class,” he said, “and I know my class will pay this forward.”

The announcement came as a surprise to Smith’s staff and to the staff at Morehouse, and elicited the biggest cheers of the morning.

Tonga Releford, whose son Charles Releford III is a member of the Class of 2019, estimates that his student loans are about $70,000.

“I feel like it’s Mother’s Day all over again,” she said.

The gift has been estimated to be worth up to $40 million.

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2 comments

Nathan Thompson May 20, 2019 at 12:14 am

WOW! Just wow!!! That’s inspiring! Good man!!!

Reply
sami May 20, 2019 at 7:42 am

If all the billionaires of the world were like this man, this American citizen, the wars will no longer take place, the Israeli-Palestinian conflict will end and the world will live in absolute happiness ! Unfortunately, this kind of men can be counted on the fingers of the hand ! In any case, congratulations Mr R. F. Smith and God grant you more than you offered ! You have a heart of a man who enters history by the big door ! And a heart that will open you another day the gates of Paradise ! God bless you for your wonderful gesture for your young compatriots !

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