Snapchat CEO pays student loan worth $10mn for more than 250 new graduates – Business Today

Snapchat CEO Evan Spiegel and his wife Miranda Kerr paid off the entire student debt worth $10 million of 285 graduates of Otis College of Art and Design in Los Angeles. This makes it the highest donation in the college’s history, Los Angeles Times reported. Spiegel, the creator of Snapchat, the popular instant messaging app, became world’s youngest billionaire in 2015. He also took summer classes at Otis during high school. Charles Hirschhorn, Otis president, gave the news to the graduating students during the commencement ceremony at the Westin Los Angeles Airport Hotel. “We have one more gift for the class of 2022. We know most of you and your families shared the burden of student debt at a heavy price that you paid for an exceptional Otis college education…So we are pleased to announce that Evan and Miranda through their Spiegel Family Fund have made the largest single gift in the history of Otis college,” Charles Hirschhorn said. Spiegel and Kerr are founders of the Spiegel Family Fund. “The college is an extraordinary institution that encourages young creatives to find their artistic voices and thrive in a variety of industries and careers,” they said in a statement.  The Snapchat…
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