QUINCY, Mass. — A South Shore-based billionaire is giving back big this year after he and his wife announced their new goal of donating $1 million per week to at least 52 different non-profit groups.
Rob Hale, who is worth an estimated $5 billion from his controlling stake in Granite Telecommunications, is known for his generous donations over the years. He has donated tens of millions of dollars to prominent institutions like Boston Children’s Hospital, the Dana-Farber Cancer Institute, and his alma mater, Connecticut College.
Hale and his wife, Karen, announced they are giving a total of $52 million towards establishing endowments at grassroots organizations throughout the 52 weeks of the year.
The goal of the endowments is to bring “financial clarity” to smaller charities, according to Hale.
“These are great, impactful organizations but they’re on a wing and a prayer. They have no financial certainty,” Hale explained.
Hale spoke with Boston 25′s Gene Lavanchy about the motive behind his mission to give to these smaller organizations.
“A lot of these smaller groups, who have been opened for five to seven years, operate on a shoe-string budget and if we can give them financial certainty for years to come, we knew they would impact our community for years to come and that was our mission,” Hale said.
Back in May, Hale was the keynote speaker at the Roxbury Community College graduation ceremony and he brought tears to the eyes of students and families after he gave each graduating member of the class $1,000.
He made a point that all 150 graduates were given a gift of $500 for themselves and a second gift of $500 to give to a family member, supporter, or local organization that has helped them over the years.
The Hales have 6-7 weeks left of these donations as we quickly approach the new year.
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