Behind College Offer: The Richest Black Person in US

Robert F. Smith is paying off the class debt at Morehouse College
By John Johnson,  Newser Staff
Posted May 20, 2019 12:20 PM CDT

(Newser) – It will be hard to top as a commencement speech going forward. Billionaire Robert F. Smith told 2019 graduates of Atlanta's Morehouse College in his speech Sunday that he would pay off all their student loans. Morehouse is a historically black college, and Smith is considered to be the richest black person in the US. The move is still reverberating on Monday. Details and developments:

  • Watch it here: This video captures the moment Smith announces the offer, as well as students' reaction.
  • Who's Smith? The 56-year-old is a former Goldman Sachs exec who went on to found the private equity firm Vista Equity Partners, which focuses on software companies, per Forbes. The site pegs his net worth at $5 billion, higher than any black American and No. 3 among black people around the world.

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