The philanthropic act of billionaire investor, Robert F. Smith, CEO of Vista Equity Partners, gave the ultimate gift to Morehouse graduates—the promise to pay every cent of their student loans. It also gave people a sticker shock at the price of education and looming student debt crisis.
Wealth inequality, and in particular, the racial wealth gap grows with staggering numbers. A report released by Founders of Color (FOC) says that it will take a Black family 228 years to equal the wealth of whites. For Latinos, it is 211 years.