r/nextfuckinglevel 2d ago

Billionaire speaker Robert F. Smith tells 400 graduates he's paying off all their student loans ($40 million in total)

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u/Poppanaattori89 2d ago

So inspirational. I really liked this part of his speech:

"Instead of getting the free education you deserve, here's some dirty money that I don't deserve to try to distract you from the fact that I don't deserve it."

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u/TerribleBid8416 1d ago

What he doesn't tell you is HE actually won't be paying a cent. His business will and they'll write it off as a loss.

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u/FunSpiritual7596 1d ago

Does it fucking matter

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u/TerribleBid8416 2h ago

Yes because they won’t be paying taxes on the money. And since it’s a loss the stock holders won’t receive the dividend