Every year, a billionaire CEO doles out $1,000 checks to local college grads—with a catch: They have to give half the money to charity

(Credit: Getty Images—Mario Tama/Getty Images)

One of the best gifts you can give a recent college grad is cold, hard cash. It can serve as a launching pad for establishing themselves as an adult, equipping them to get their first apartment, start paying off those sky-high student loans, and maybe enough to get them some well-earned drinks at their favorite local watering hole. 

And one billionaire makes that wish come true each year: Rob Hale, founder and CEO of telecommunications company Granite Communications, annually doles out $1,000 checks to local recent college graduates in Massachusetts. He’s worth about $6 billion and helms the $1.8 billion company that provides voice, data, internet, mobile, and video services for businesses and government clients.