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A billionaire gave a Dartmouth College graduate an “envelope full of cash” totaling $1,000.
Robert Hale Jr., CEO of Granite Telecommunications, made the announcement at the school’s graduation ceremony on Thursday. The school shared a video of the ceremony online, showing the moment Hale spoke to 1,200 graduates and their families.
“These difficult times have heightened the need for sharing, caring and giving,” Ms Hale said. “Now more than ever, our community needs you and your generosity.”
a University of Massachusetts Dartmouth press release Security said they brought two large duffel bags on stage “stuffed with envelopes filled with cash.”
Mr. Hale told the graduates that there were two envelopes to hand out, one labeled “Gift” and the other labeled “Give.”
The Dartmouth, Massachusetts graduate received $1,000. Lawrence Sawyer/Getty Images
Hale explained that each student will be paid $1,000, but added that there are “provisions.”
“The first $500 is our gift to you,” Hale said. “Donate his second $500 to someone else or another organization that could use it better than you.”
If all 1,200 students received $1,000, Hale’s endowment would be approximately $1.2 million.
During the ceremony, Mr. Hale also received the President’s Medal from Dartmouth College in Massachusetts for his philanthropy.
Representatives from Dartmouth College and Granite Telecommunications’ Hale did not respond to requests for comment from Business Insider.
This year’s US college graduation season has been marked by controversy, mainly due to the ongoing conflict in Gaza. Several schools, including Columbia University, have canceled all-campus graduation ceremonies, citing security concerns. Some have also called in police to break up pro-Palestinian protest camps, a move that one opposition expert told Business Insider will likely ultimately backfire.
Duke University students walked out last weekend during comedian Jerry Seinfeld’s commencement speech. Seinfeld has become a vocal supporter of Israel. Some students held up Palestinian flags as they left the ceremony.
A representative for Duke University told BI: “We respect the right of everyone at Duke University to peacefully express their opinions without preventing graduates and their families from celebrating their accomplishments.”