Delivering the commencement address at Morehouse College in Atlanta, the alma mater of Martin Luther King Jr, the billionaire technology investor and philanthropist Robert F Smith made a surprise announcement: his family would wipe out the student debt of the entire class of 2019. Smith‘s words to nearly 400 graduating seniors were greeted with a moment of stunned silence, then, unsurprisingly, the biggest cheers of the morning.

Fast forward to the 33:00 minute mark for the announcement.

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