Robert F. Smith’s gift of paying off the student loans of Morehouse College’s 2019 graduating class stunned the school’s students and faculty, but it was just the latest act of philanthropy by the quiet billionaire tech investment executive who is concerned that economic opportunities for African Americans have narrowed.

Smith made the surprise announcement Sunday while giving the commencement address at the college in Atlanta, and his gift is estimated at $20 million to $40 million. Read more from The LA Times.

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