Robert F. Smith Pays Off $40 Million In Student Loans For Morehouse Graduating Class

This year’s graduating class at Morehouse College in Atlanta, Georgia received news that most Americans only dream of hearing in their lifetimes.

It was billionaire Robert F. Smith, CEO and Founder of Vista Holdings, who was present at the Spring 2019  commencement ceremony for the all-male historically black school. He was there to receive an honorary degree but came to deliver on a gift of his own when he pledged to pay off all the student loan debt accrued by the class of 2019, amounting to about $40 million

“I want my class to look at these (alumni) — these beautiful Morehouse brothers — and let’s make sure every class has the same opportunity going forward because we are enough to take care of our own community. We are enough to ensure we have all the opportunities of the American dream,” Smith said urging his fellow graduates to pay such generosity forward.

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

Smith, who graduated from Cornell University, is currently ranked as the 163rd richest person in the United States, surpassing Oprah Winfrey as the wealthiest African-American. He has built his empire on the back of his Vista Equity Partners, a venture capital firm that boasts over $46 billion in capital commitments. Beyond that, his strides in philanthropy are well-documented, thus making his most recent grand gesture a shock to the public but a move that falls well in line with his creed.