The Real Wealth of a Graduate

A recent address at Harvard Business School’s Class Day saw former Senator Mitt Romney speak to a crowd of about 4, 500 new graduates and their families. He began by saying that the true measure of a life’s wealth is found in loved ones and friends, a sentiment rooted in his Latter‑Day Saint background. He then warned that career success often depends on chance and serendipity, suggesting that hard work is not the sole factor. Romney’s first point echoes a long‑standing teaching from President David O. McKay: personal success cannot make up for failures in the home. This idea challenges graduates who have spent two years mastering optimization and competition, reminding them that business metrics are not the ultimate scorecard. The message aligns with Jewish tradition, where life is judged by what one passes on to children rather than material gains.He also acknowledged that the graduates were stepping into a turbulent period in American history, noting that even a merit‑based institution like Harvard Business School recognizes that diplomas are partly gifts. Romney urged them not to overestimate their own brilliance when succeeding, nor to underestimate it in moments of failure. He hinted at a concept often missing from modern meritocracy: grace—a recognition that some advantages are unearned. Romney’s remarks carried a broader social implication. If successful people believe they earned everything, they may view others as equally deserving of their hardships, fostering contempt. By embracing humility and gratitude, graduates can see fellow citizens as partners rather than rivals. His own career—rising through the buyout world, then stepping back from politics—gave him credibility to speak on this balance between personal effort and external luck. He closed by expanding the lesson from family life to national character, stressing that no level of economic success can replace moral integrity. Romney’s core message was not to discourage ambition but to temper it with humility, duty, and an appreciation for the role of chance in achieving goals.