Founder and CEO of Granite Telecommunications Robert Hale Jr. gave the commencement speech at the University of Massachusetts Dartmouth, as well as $1,000 to each graduate.
"Our community and our world need our help now more than ever," Hale said in his speech.
The university said that two envelopes were presented to the graduates upon crossing the stage, each containing $500. One envelope was intended as a "gift" for the students, and the other was to be given to "someone in need or a charity or cause close to them," the school said.
The school graduated 1,200 students, two-fifths of whom were first-generation students.
During the ceremony, Hale urged the students "not to let failure define them, using his own life as an example of resilience and perseverance," according to the school.
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