Boston Celtics co-owner Rob Hale surprises 2.5,000 UMass students with $1,000 each at graduation
Boston Celtics co-owner Rob Hale surprises 2,500 UMass Boston students with $1,000 each at their graduation ceremony
- Rob Hale has a net worth of $5 billion and is the CEO and founder of Granite Telecom
- The 55-year-old from Quincy, MA, became a minority owner of The C’s in 2012
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Boston Celtics co-owner Rob Hale showed up at the graduation ceremony of 2,500 students at UMass Boston to surprise them with $1,000 each, just before they took the stage.
Hale, who has a net worth of $5 billion, spoke at the university’s 55th commencement ceremony Thursday before handing out the money, which he divided into two envelopes so that students can keep $500 and donate the other half.
‘These are turbulent times. You survived. You have been prosperous. You should be celebrated,” said the 55-year-old, who is also the co-founder, president and CEO of Granite Telecommunications.
“We want to give you two presents. The first is a gift to you. The second is the gift of giving.’
Hale also spoke earlier in his opening statement about the benefits of rising from failure and paying it forward through philanthropy.
Rob Hale, co-owner of the Celtics, spoke at UMass Boston’s graduation ceremony on Thursday
More than 2,500 students went crazy when they found out Hale had given them $1,000 each
The Boston native, who hails from the suburb of Quincy, said his first company, Network Plus, lost a huge amount of money after the company filed for bankruptcy more than 20 years ago.
“Have you met anyone who lost a billion dollars before?” Hale asked the audience. “Chances are I’m the biggest loser you’ve ever met. And now you’re getting career advice from me.’
The co-owner of one of the most successful NBA franchises in basketball history was joined this year by Senator Elizabeth Warren as inaugural speakers for UMass Boston.
Hale previously gave the 2021 kick-off speech at Quincy College and also gave graduates there $1,000 in cash divided into two envelopes.
“It’s really great for them to give back like that,” said William Dos Santos, an electrical engineering graduate The Boston Globe. “Many of us need this money to start working.”
Hale and his wife, Karen, are very active in the Boston community and deeply believe in giving back through their many philanthropic works.
In 2021, the couple donated $30 million to Connecticut College, Hale’s alma mater, to support its financial aid, athletic department, and campus infrastructure developments.
Rob Hale, 55, has a net worth of $5 billion and is the founder, CEO and president of Granite Telecommunication
Hale has been a minority shareholder of Celtics since 2012 (seen with Jayson Tatum, far right in 2018)
The eight-figure donation was the largest charitable contribution in the school’s history.
In 2022, the couple donated $52 million to charities, which equates to about $1 million a week.
Hale is also one of 10 people from Massachusetts on the 2023 Forbes Billionaires list, coming in at number 551 in the world today. He joined the Celtics Investor Group in 2012 after buying a minority stake in the 17-time NBA champion.
About 59 percent of UMass Boston students are first-generation students, according to the school’s website.