A Billionaire Donor Gave University Graduates A Sizable Cash Gift — But There Was A Catch (or Two)

Every graduating student coming astatine nan May 16 commencement for nan University of Massachusetts astatine Dartmouth (UMass) received an unexpected prize erstwhile they sewage their degrees: a $1,000 complaint gift from billionaire Robert Hale Jr, nan laminitis and CEO of Granite Telecommunications.

There were 2 requirements though — nan student had to beryllium there, successful person, astatine nan commencement ceremonial to personification nan money. They too had to springiness half of nan gift distant to a charitable organization.

However, not each graduates were coming astatine nan commencement ceremony.

A New York Times article published earlier this week noted that astir 20% of nan 1,200-person graduating group was absent and missed their chance to personification a $1,000 gift from Hale.

The complaint successful nan unclaimed envelopes went toward a danasiwa money successful Hale's name, bringing his afloat assistance to $1.2 million.

"The relationship I want to beryllium delivered for those who don't beryllium by premier is, 'Hey, this is simply a ceremonial of 4 years of difficult work, and you've sewage to show up,'" Hale told nan Times.

Related: 'Wanted to Cry for Joy': MacKenzie Scott Donates $65M Gift to Housing Nonprofit

Each UMass postgraduate received 2 envelopes stuffed pinch cash: a "gift" missive screen containing $500 for themselves and a "give" missive screen pinch different $500 for them to donate to group aliases charities successful need.

"We wanted to springiness [the graduates] a existent gift to observe their perseverance, but too [encourage] giving to an connection aliases personification who could usage it to create that seed of philanthropy," Hale told People.

— Collin Rugg (@CollinRugg) May 18, 2024

Related: Melinda French Gates Announces Open Call for $250 Million Fund. Here's Who Can Apply.

This isn't nan first clip Hale has adopted this "give" and "gift" method of giving. He first initiated it 4 years agone arsenic a measurement to reward graduates for their difficult activity astatine nan commencement ceremonial astatine Quincy College, erstwhile graduates were taking COVID-era precautions. He has since rewarded graduates of Roxbury Community College, and, for nan past 2 years, graduates of nan University of Massachusetts astatine Dartmouth, successful nan aforesaid way.

Hale says that successful nan past 4 years, gift recipients personification donated money from their "give" envelopes to conception animal shelters and backmost to their colleges. One azygous mom pinch 5 kids moreover gave her children $100 each from nan "give" envelope, Hale told People.

Hale told nan New York Times he plans to do different astonishment giveaway soon astatine different school. Forbes lists his real-time nett worthy arsenic $5.8 cardinal astatine nan clip of writing.

Related: 'I'm Inspired By All nan Ways People Invest': MacKenzie Scott Has Donated Over $2 Billion This Year. Here's Where nan Money Went—and Why.