A billionaire technology investor has stunned graduates at a US college by announcing he will pay off all their student loans estimated at $40m. Mr Smith is the founder and CEO of Vista Equity Partners, a private equity firm that invests in software, data and technology-driven companies. Mr Smith said he expected the recipients to “pay it forward” and said he hoped that “every class has the same opportunity going forward”. “Because we are enough to take care of our own community,” Mr Smith said. Morehouse College president David A Thomas said the gift would have a profound effect on the students’ futures.

Source: Irish Examiner May 19, 2019 20:26 UTC