Monday 16 May 2022 12:07 PM Snapchat co-founder Evan Spiegel and wife Miranda Kerr pay off student debt of ... trends now
The founder of Snapchat and his model wife have paid off the entire student debt belonging to 284 graduates at an art college in Los Angeles.
Snapchat co-founder Evan Spiegel, who once took summer classes at the Otis College of Art and Design, attended the school's graduation commencement ceremony with his wife - Australian model Miranda Kerr - on Sunday evening.
The Los Angeles Times reported that Charles Hirschhorn, the president of Otis, shared the stunning news with the school's Class of 2022: That their entire college debt would be paid off by the billionaire couple.
The donation by the tech entrepreneur is the largest in the college's history, and sparked raucous celebrations from the students at the ceremony held in the Westin Los Angeles Airport Hotel.
Pictures showed them in their graduation gowns cheering, hugging and crying as the news was given to them. Some simply stood in a state of shock.
Spiegel and Kerr also received an honorary Doctorate from the college.
The founder of Snapchat Evan Spiegel and his model wife Miranda Kerr have paid off the entire student debt belonging to 284 graduates at an art college in Los Angeles. Pictured: The couple are seen at at the Otis College of Art and Design commencement ceremonies where graduating students learned that Spiegel has paid for their tuition
Pictured: Graduating students at the Otis College of Art and Design celebrate upon learning that their student debts would be paid off by Snapchat co-founder Evan Spiegel
Spiegel, 31, became the world's youngest billionaire in 2015 with the creation of the popular instant messaging app, along with two of his former Stanford University classmates - Bobby Murphy and Reggie Brown.
Spiegel is now the CEO of Snap Inc., and is worth an estimated $13.8 billion.
Kerr, meanwhile, is a highly successful model and founder of the award-winning beauty company Kora.
Before studying at Stanford, he took summer classes at Otis college, telling the graduating students: 'It changed my life and made me feel at home.'
He added: 'I felt pushed and challenged to grow surrounded by super talented artists and designers, and we were all in it together.'
Kerr and Spiegel founded the The Spiegel Family Fund, a philanthropic organization that helps fund the arts, education, housing and human rights causes in LA.
In a statement, they said that the college 'an extraordinary institution that encourages young creatives to find their artistic voices and thrive in a variety of industries and careers,' the LA times reported.
