A Black equity investor does it again! Inspired by the 2019 $34 million donation of billionaire Robert Smith who paid the outstanding student loan debts of all Morehouse graduates, Frank Baker has taken action. Co-founder and managing partner of the private equity firm Siris Capital, Baker has paid the outstanding student loans of Spelman College graduates. He was inspired by Smith’s 2019 commencement address that encouraged others to also donate so that students in every graduating class received similar financial relief.
Smith’s encouragement was followed by words that resonated a mighty thunderous truth. He said that Black people must support graduates of historically Black colleges and universities “because we are enough to take care of our own community.” This reality is a less articulated, yet powerful fact. To read more about a truth that inspired Frank Baker’s response to Smith’s challenge, click here.