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TexasTowelie

(111,313 posts)
Tue May 26, 2020, 08:28 PM May 2020

Private equity investor pays off tuition for graduates of Spelman College

After Robert Smith, the wealthiest African-American in the United States, pledged to pay off the student loans of the 2019 class of Morehouse College, he issued a challenge to others in his position to follow suit.

“I’ve got the alumni over there and this is a challenge to you alumni,” said Smith. “Let’s make sure every class has the same opportunity going forward. Because we are enough to take care of our own community.”

The $34 million gift inspired Frank Baker, who has also reportedly known Smith for years.

Baker is similar to Smith in many regards. Both found business success by starting a private equity firm that invests in technology companies and both started their Wall Street careers in 1994 in the mergers and acquisitions group of Goldman Sachs.

Read more: https://www.phillytrib.com/news/across_america/private-equity-investor-pays-off-tuition-for-graduates-of-spelman-college/article_65c09482-9f50-11ea-9396-d35172ab6168.html

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Private equity investor pays off tuition for graduates of Spelman College (Original Post) TexasTowelie May 2020 OP
Always good to see people thinking about the future of the community GeoWilliam750 May 2020 #1
Awesome! We need more like them to step up tulipsandroses May 2020 #2
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