Billionaire and philanthropist Robert F. Smith stunned Morehouse College Class of 2019 with a pledge to pay off their student loan debt. Smith received an honorary doctorate degree at the 135th Commencement of the Historically Black College for men. During his speech, Smith amazed the crowd with the announcement, pledging to pay off the graduates student loan debt. The class of 400 students has an estimated $40 million dollars in student loans. Smith, 56, is a native of Denver and a Cornell University alumnus and began a career as a chemical engingeer. He also received an MBA from Columbia University and began working and founded Visa Equity Partners, a private equity and venture capital firm of which he is the principal founder, chairman and chief executive. As of 2019, Vista has over $46 billion in cumulative capital commitments, owns over 50 software companies, and has 60,000 employees worldwide. According to Forbes, Robert F. Smith is worth an estimated 5 billion dollars.

Video from the 135th Commencement can be watched here.