University students receiving their diplomas at college in the USA got surprise of their lives during their commencement ceremony. Students at Morehouse College in Atlanta, Georgia were listening to speech from philanthropist Robert F. Smith, recipient of honorary degree from Morehouse. Mr Smith ended his speech by informing 400 students that he would pay off their student loans and debt. He said: "This is my class, 2019, and my family is making grant to eliminate their student loans." He added: "On behalf of eight generations of my family who have been in this country, we're going to put little fuel in your bus." Mr Smith's kindness is estimated to be worth about $40 million.
Robert F. Smith, 56, graduated from Columbia Business School, where he earned MBA with honors. In year 2000, he founded investment company Vista Equity Partners, which currently manages over $46 billion in assets. His company made him multi-billionaire. Mr Smith was first African-American to sign Giving Pledge, where people promise to commit at least half of their wealth to philanthropic causes. One graduate to benefit from Smith's generosity said it would have "immeasurable impact" on his life. Dwytt Lewis, 21, whose $150,000 loan is now no more, added: "Just imagine weight lifted off your shoulders when you have clean slate coming out of college."