[7], "Kaye Tomlinson and Robert F. Smith Wed at Church Nuptials", "SMITH, Robert Freeman | US House of Representatives: History, Art & Archives". August 21, 2020. According toThe Washington Post,he keeps an extremely private profile, and doesnt even have a photo on his own companys site. Smith is a billionaire who has amassed a fortune largely through his company, Vista Equity Partners. He has also served as chairman of the Robert F. Kennedy center for Justice and Human Rights in the past. You are responsible for building strong, safe places where our young brothers and sisters can grow with confidence, watch and learn from positive role models, and believe that, they too, are entitled to the American Dream. -Robert F. Smith @RFS_Vista #MorehouseGrad2019 pic.twitter.com/CeMs6CxQkq, Morehouse College (@Morehouse) May 19, 2019. Komen. Over the years, Smith has made major contributions to the National African American History Museum, Carnegie Hall, Robert F. Kennedy Human Rights, Cornell University, Morehouse College and many other organizations. Accessed August 25, 2021. Ripple of Hope Awards Honoring VP Joe Biden, Howard Schultz & Scott Minerd in New York City. Accessed August 25, 2021. Fund SFI program up to $10M: fund the Student Freedom Initiatives HELPS program to support ~1.5K+ students per year at HBCUs* with emergency expenses e.g., unexpected health costs, late rent payments, etc. Scale technical assistance $15M: fund*to expand technical assistance through business coaches and wrap-around services for 500+ MBEs over 5 years to help them scale from <$1M to $5M+ in annual revenue, 2. Robert F.Smith is a billionaire who gave the commencement speech at Morehouse College on Sunday, telling the graduating students his "gift" was to pay off all of their student loans. October 8, 2020. Billionaire Robert Smith befriended Trump inner circle after paying off Morehouse debts: report, Just hours before the Idaho slayings, another grisly scene unfolded outside Bryan Kohberger's window, Polar bear kills woman, boy in remote Alaska village, Hawaii fisherman overboard, missing after hooking large ahi, Reality TV star Julie Chrisley reassigned from Florida prison to federal medical center, The rich and powerful flocked to Davos via private jet to discuss climate change, study finds, Sunny skies, cool temps expected for most of SoCal on Wednesday, Big Change Leaves Missouri Drivers Fuming, Idaho murders: Mysteries linger in Moscow weeks after Bryan Kohberger's arrest, UH Cougar signee leading Cy-Falls HS into hopeful playoff run. Now he'll spend. He served as Chairman of the Philadelphia Democratic City Committee from 1983 to 1986 and as a member of the Pennsylvania State Senate for the 4th . You just need intellectual property. Smith was accused of conspiring with billionaire software CEO Robert Brockman to conceal his income by routing proceeds from Vista Equity Partners through Caribbean shell corporations secretly owned by Smith. He continued to work there as an intern during his summer and winter breaks before graduating Cornell with a chemical engineering degree. [76] Smith was included on the Time 100, Time's list of the 100 most influential people in the world, in 2020. "This has been a heartbreaking and painful week for America and a reminder that in our endless pursuit of a 'more perfect union,' a great deal of work remains," Smith wrote. ToThe Washington Postin 2016, Smith noted his desire to get African Americans involved in computers and software, saying, This is the first time in history you can create wealth and not have access to capital. [1], Smith gained public acclaim as one of the most prominent African-American philanthropists through his Fund II Foundation, which has donated tens of millions of dollars to universities, and in 2019 paid off the student loan debt of the entire graduating class of Morehouse College. He was a Democratic U.S. And my family is making a grant to eliminate their student loans.. [87][88][89], Smith has three children with his first wife. is listed at 1395 South Rd East Greenwich, Ri 02818 and is affiliated with the Republican Party. He argued for the importance of a set aside (for minority owned small businesses in #PPP) and we agreed. [69], In May 2019, while at Morehouse College to receive an honorary doctorate and deliver the commencement address, he announced that he and his family would pay off the entire student loan debt of the 2019 Morehouse College graduating class of 396 students. Smith was born in Portland, Oregon, and grew up in Burns, Oregon. [6], Smith was the first Black American to sign the Giving Pledge, pledging to donate most of his wealth to philanthropic causes before his death. Throughout his life, Smiths commitment to philanthropy and equity has never wavered, and finding ways to make a difference in the communities where he lives and works is central to his character and approach to life. [28][29]Smith said: "When we unify the souls of our two communities, we can usher in light to banish the darkness of racism, bigotry, and antisemitism. He is a male registered to vote in Connecticut. [1] He attended Willamette University in Salem, Oregon, graduating in 1953 with a bachelor's degree in agriculture. After a brief retirement, he returned to Congress in 1997. Accessed August 25, 2021. Now, Ive got the alumni over here, and this is a challenge to you, alumni: this is my class, 2019. How he made his billions. Billionaire Robert Smith reportedly got closer to Ivanka Trump as the IRS closed in on him. Search Terms: Robert Smith Reset All Filters Page 3 of 1,139 First Previous 1 2 4 5 6 7 8 9 Next Fund modernization & capacity-building and provide in-kind subject matter experts $30M: help 4-5 CDFIs/MDIs over 5 years modernize their core systems, hire and train staff, expand marketing and standup SWAT team of experts to conduct needs diagnostic, implement tech solution & provide technical assistance, Systems and technology modernization $10M-15M: Add/upgrade core banking systems, hardware and productivity tools, train frontline workforce on new systems & technology and hire engineering specialists to support customization and news systems rollout over 5 years, Talent and workforce $10M: hire and train additional frontline lending staff and invest in recruiting, training, compensation & benefits and retention to increase in-house expertise and loan capacity over 5 years, Other capacity-building and outreach $8M: hire additional staff to increase custom borrower and technical assistance (e.g., credit building, MBE financing options, etc.) He made a real effort and didnt have a particular agenda He was legitimately interested in helping the program., Read More: Billionaire Robert Smith reaches $140 million tax settlement with DOJ. Fund SFI program $12M: fund the Student Freedom Initiatives Income Contingent Alternative to Parent Plus to support ~120 Black STEM students per year forever at 3 HBCUs*, * Minority Serving Institutions / HBCUs being considered: Dillard University, Southern University New Orleans and Xavier University of Louisiana, 6. [53] In May 2017, The Giving Pledge announced that Smith had joined as its first African-American signatory. Smith left Goldman Sachs, where he worked on tech M&A, in 2000 and launched his own private equity firm. Fund modernization & capacity-building and provide in-kind subject matter experts $30M: help 4-5 CDFIs/MDIs* over 5 years modernize their core systems, hire and train staff, expand marketing and standup SWAT teams to conduct needs diagnostic, implement tech solution & provide technical assistance. Follow Robert F. Smith on social media for the latest on his work as a business and philanthropic leader. [82], In October 2022, media outlets including TMZ,[83] Revolt TV,[84] Variety, and Vibe Magazine[85] published an article highlighting Smith being nominated by Floyd Mayweather, Jr. to serve as executive producer of a series of film and television projects titled "The GOAT" aimed to tell Mayweather's life story. [2][50], Also that year, Cornell University named the Robert Frederick Smith School of Chemical and Biomolecular Engineering after him, following a donation. Background Report. [5][6] Smith earned a bachelor's degree in chemical engineering fromCornell University in 1985. Amy Harris/Invision/AP. Smith said, The vision I was sold as a kid is unraveling. [91], Smith owns homes in Austin, Texas, Malibu, California, New York City, Denver, and Florida. It worked, until now", "How Billionaire Robert Smith Avoided Indictment in a Multimillion-Dollar Tax Case", "A Buyout Fund C.E.O. In particular, his philanthropy honors the sacrifices and contributions of his parents, grandparents and African American ancestors who he says paved the way for his success. Still, the apple didn't fall too far from the tree: Ziff gave to Republican legislators. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: First Bancshares, Commonwealth National Bank, TruFund, Sabre Finance, Bronze Valley, etc. Dec 11, 2022, 10:03 AM. During his 2019 commencement address at Morehouse College, a historically Black institution, Smith surprised the graduating class by pledging to pay off the entire class student loan debt a $34 million gift that helped nearly 400 graduates. 2020 Transaction Count/Amount. Robert F Smith (born 1957) is listed at 46 Railroad Avenue Madison, Ct 06443 and has no political party affiliation. [57][58], In 2018, Smith was the largest individual donor at the City of Hope Gala, which funds prostate cancer treatment and breast cancer research for black men and women. 2012 Election Cycle. Fund modernization & capacity-building and provide in-kind subject matter experts $30M: help 4-5 CDFIs/MDIs* over 5 years modernize their core systems, hire and train staff, expand marketing and standup SWAT team of experts to conduct needs diagnostic, implement tech solution & provide technical assistance. Read more: Read the memo private-equity titan Robert F. Smith, the richest black man in the US, sent to his staff about America's racial unrest. "Former congressman, felon Cooley may run for office again", "House Speaker Smith Not Conservative or Liberal", "Former Oregon Congressman Bob Smith Fatally Injured a Pedestrian", "Former U.S. Rep. Bob Smith kills pedestrian in Medford", "Former Oregon Congressman Bob Smith Dies at 89", Biographical Directory of the United States Congress, Chairmen of the United States House Committee on Agriculture, https://en.wikipedia.org/w/index.php?title=Bob_Smith_(Oregon_politician)&oldid=1122471336, Speakers of the Oregon House of Representatives, Republican Party members of the United States House of Representatives from Oregon, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 17 November 2022, at 19:23. [11] From 1994 to 2000, he worked for Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. [2][41][42] Also in 2014, Smith received an honorary doctorate from Huston-Tillotson University. Much to my dismay, they disagreed.". Robert has been a great champion for improving access to capital in distressed communities. Be an advocate for SCI priorities: engage federal and state agencies to drive policy and funding improvements to better support SCIs near-term priorities, E.g., Engage the Small Business Administration and Minority Business Development Agency to increase technical assistance programs and annual spend to better support Minority Business Enterprises (MBEs) with capital and scaling needs, E.g., Ask the Federal Communications Commission (FCC) to include multi-dwelling unit connectivity in its new broadband connectivity maps and ask the National Telecommunications and Information Administration (NTIA) to allow non-FCC data in state broadband plans to unlock ~$285M in potential government broadband funding for 5 SCI regions. Download theGrio today! Standup training hub $30M: fund* the establishment a world-class training hub that offers certificate-granting STEM and innovation programs in advanced manufacturing, health care, etc. May 28 Smith reportedly approached the agency for amnesty from prosecution under a program for Americans who did not report offshore assets but the request was declined. A state supreme court plays a role in the checks and balances . [2] He attended Carson Elementary School and East High School[3] in Denver. Jordan Hart. "Think about 400 young African American men who had just done the heavy lift. Among the recognitions he received are: 2020 Forbes Diversity & Inclusion Award 2020TIMEs100 Most Influential People 2019 Carnegie Medal of Philanthropy 2019 Inductee into the Texas Business Hall of Fame 2019 UNCF Presidents Award 2018 Honored by National Park Foundation 2017 Columbia University BBSA Distinguished Alumni Award 2016 Congressional Black Caucus Foundation Chairs Award 2010 Ripple of Hope Award from Robert F. Kennedy Human Rights Forbes 100 Greatest Living Business Minds. [31] In October 2020, Smith reached a non-prosecution agreement with the United States Department of Justice (DOJ), agreeing to pay a fine of $139 million. Some of their responsibilities include overseeing the Primary, Candidate Filing, and other elections; chairing County Executive Committee Meetings; organizing and leading the local party; as well as overseeing and/or assisting with precinct and county or Senate District Conventions as required. ", "Influential Black Entrepreneurs - Robert Smith", "Vista Equity: The Biggest Software Group You've Never Heard Of", "Robert F. Smith - Vista Equity Partners", "Vista Equity Partners to pay $1.9 billion in private-equity deal for Apptio", "Vista Equity Partners to invest $1.5B in India's Reliance Jio Platforms", "Vista Equity Partners Is Acquiring Ping Identity", "What to know about Robert F. Smith, the man paying off Morehouse grads' student loans", "Vista's Smith named PEI's 2016 'Game Changer', "Cover Story: Robert F. Smith, Chairman & CEO of Vista Equity Partners", "Who Is Robert F. Smith? By clicking Sign up, you agree to receive marketing emails from Insider He went on to study at Cornell and Columbia universities, and he worked at Goldman Sachs before starting his own investment firm. Smiths gift to the class of 2019 was no small sum: according to AJC, the collective student debt amount for the entire class sits at around $40 million. [31][37] Brockman also required the first fund to be located in the Cayman Islands and set aside some of the interest earned to protect him against losses. * Leading organizations for community strategy include (but not limited to): Community LIFT, Memphis CDFI Network, etc. Estimated impact (of all initiatives): ~$330M in additional loans per year to support ~30K MBEs, 5. Smith was worth an estimated $2.5 billion, as of 2016. Smith's work individually and in conjunction with the Fund II Foundation has helped fund racial equity and educational reform initiatives, outdoor access and historic preservation efforts, as well as internships and career pipeline opportunities for . He founded Vista Equity Partners, which invests in software companies, in 2000. [2] Wes Cooley, the Republican who had succeeded Smith in the House, had been caught in several lies about his military service and Smith was persuaded to come out of retirement. [1] He advised on merger and acquisition activity with companies such as Apple and Microsoft. All Rights Reserved. ", Another banker told Business Insider that Smith was "one of the smartest men I've ever met.". [23], The 2019 PitchBook Private Equity Awards named Vista Equity Partners "Dealmaker of the Year". Robert Smith. Smith, a private equity investor, is one of the wealthiest African Americans in the world, and the richest black person in the United States. Watch the latest videos of Robert F. Smiths speeches, TV interviews, and other appearances. Many of them had college loans and parents PLUS loans coming out of their neighborhoods, fighting what they were fighting for, and then getting educated. . Under his leadership, the firms portfolio has grown to include some of the worlds leading enterprise software companies. Mayweather said: As someone who owns his own brand, I cant think of better partners than Deon (Deon Taylor), Roxanne (Roxanne Avent Taylor), Robert F. Smith the wealthiest African American in the world and Hidden Empire Films, a prolific Black-owned production company.[86], In 1988, Smith married his first wife, fellow Cornell alum Suzanne McFayden. Political Campaign Contributions. "Patriot Mobile Action is a new entity created to put . That is where Robert is right now. Smith is chairman and chief executive of Vista Equity Partners. Robert F. Smith believes deeply in the need to give back and support communities. Smith later extended the gift, which Morehouse later said totaled $34 million, to cover the graduates' parents' loans, too. Philanthropy. Robert F. Smith. Provide technical expertise: offer subject matter and technical expertise to catalyze and support community initiatives, E.g., tax/accounting experts to help MBEs file taxes, E.g., business experts to help MBEs better access capital and craft business plans to scale their teams and operations, 2. His father, Benjamin F. Smith, was a doctor. Smith will pay $140 million to settle to a four-year-long investigation into his personal taxes, Bloomberg reported. American investor, inventor, engineer, philanthropist, entrepreneur. Accelerate SCIs digital access initiatives up to $35M in donations or in-kind: partner with New Orleanss Office of Information Technology & Innovation and Education SuperHighway to invest in setting up internet connections / hotspots, offering laptops/Chromebook and supporting adoption (through government subsidy technical assistance and digital literacy) to connect ~55K homes to high-speed internet in Greater New Orleans region, 8. However, that did not stop Ivanka from aligning herself with the tech giant. Robert F. Smith is a philanthropist and entrepreneur committed to uplifting the human spirit, particularly in underrepresented communities. [38] According to The Wall Street Journal and The New York Times, Brockman's lawyer helped Smith set up the offshore entity. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: Community Unlimited, Hope Credit Union, River City Capital, United Housing Inc, etc. Today, Smith is Vistas Chairman and CEO. In 2016, Smith donated $20 million to the National Museum of African American Historyand Culture in Washington, DC. The settlement is reportedly connected to $200 million in assets that Smith moved offshore. Smith persisted, calling each Monday for five months. Smith donated $50 million to his alma mater. [1][4], In high school, he applied for an internship at Bell Labs but was told the program was intended for college students. Access your favorite topics in a personalized feed while you're on the go. ", "Inspiring Female Founders In The Beauty Industry", "Suzanne McFayden Wiki: Facts about Billionaire Robert F. Smith's Ex-Wife", "How Robert F. Smith, the Wealthiest Black American, Is Making Change", "The World's Billionaires (2016 ranking): #688 Robert Smith", "Real Housewives of Malibu Part 2: Yolanda Hadid Foster sells to Robert & Hope Smith for nearly $20 million", "Billionaire Robert Smith Is Buyer Of Record-Breaking $59M New York Penthouse", https://en.wikipedia.org/w/index.php?title=Robert_F._Smith_(investor)&oldid=1130578664, Pages using infobox person with multiple spouses, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 30 December 2022, at 22:11. Raise community awareness & adoption of Emergency Broadband Benefit: increase door-to-door and community outreach in low-income neighborhoods to get households onto EBB to help connect ~55K unconnected households, Estimated impact (of all initiatives): 55K households connected to high-speed internet to unlock ~$1B in economic potential, Lead community organization: Charlotte Regional Business Alliance, 1. "I dug up the phone number for Bell Labs to ask about summer internships," Smith said. One Future. initiative. He's donated thousands more to specific Democratic candidates including Barack Obama, Hillary Clinton, Kamala Harris, and Chuck Schumer. He is also a major donor to the National Museum of African American History and Culture, the Chairman of Carnegie Hall, and the Chairman of Robert F. Kennedy Human Rights, among many others. Smith sought out to befriend those in the inner circle to President Donald Trump as the IRS honed in on him, the Daily Mail reported Thursday: daughter, Ivanka Trump, Treasury Secretary Steve Mnuchin who oversees the IRS, and CNN commentator Van Jones who is close to Trumps son in law, Jared Kushner. Spokespeople for both Smith and the US attorney declined to comment to Bloomberg on the settlement. [32][33][34][35][36] According to the DOJ, Brockman, the backer of Smiths first private equity fund, led him to use the offshore trust that concealed income. Sources told Bloomberg on Wednesday that Smith reached a $140 million settlement with the Department of Justice. The nations top corporations can reverse this by rebuilding these key infrastructures by allocating 2% of their net profits for the next 10 years to four key pillars: Banking and Financial Services, Healthcare, Education and Technology and the Digital Divide. As of April 2021, Smith was the wealthiest Black American, with a net worth of $6 billion. Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, appeared on Today, MSNBCs morning program on Nov. 10, 2021, to talk about his collaboration with Goalsetters One Stock. Boswell, Josh. In 2016, he was named the first African-American, as well as the first non-New Yorker, to be named the chairman of New Yorks Carnegie Hall. Here's Why Investors Shrugged", "The Billionaire Behind the Biggest U.S. Tax Fraud Case Ever Filed", "Now the Richest Black American, He's Also One of America's Biggest Philanthropists", "Austin billionaire who paid off students' debt has history of giving back", "A "quiet" African American billionaire is offering Nigeria's rescued Chibok girls a new lease of life", "US tycoon helps Chibok pupils back into the classroom", "Robert Smith | Robert F. Kennedy Center for Justice & Human Rights", "Carnegie Hall Names New Board Chairman: Private-Equity Financier Robert F. Smith", "Cornell names Robert Frederick Smith School of Chemical and Biomolecular Engineering in recognition of the leadership of philanthropist", "Cornell names engineering school after alumnus", "7 More U.S. Philanthropists Sign Giving Pledge", "Billionaire Denverite Robert F. Smith pledges to pay off student loan debt for Morehouse College class of 2019", "NEXUS Summer Program Students Dream Big in Teen Entrepreneurship Challenge", "Louis Armstrong's Life in Letters, Music and Art", "Louis Armstrong's unseen artifacts almost ready for public view", "Warner/Chappell Music CEO Jon Platt Lauded at City of Hope Gala: 'He's the Obama of the Music Industry', "Billionaire, Power 100 Honoree, Robert F. Smith Donates to Prostate Cancer EBONY", "Riverbank's Cultural Center Renamed After $1 Million Gift", "Morehouse gets two $1M gifts at anniversary gala", "EBONY Power 100 2017 Honoree - Robert F. Smith", "President Obama to Deliver Final Keynote at 46th ALC Phoenix Awards Dinner - Congressional Black Caucus Foundation", "Harlem Columbia Grad Billionaire Man Robert F. Smith (Video)", "AU Announces 2015 Commencement Speakers | American University Washington DC", "JUST IN: Morehouse commencement speaker to pay off Class of 2019's student loans", "Billionaire Robert F. Smith pledges to pay off Morehouse College Class of 2019s student loans", "Graduation speaker pledges to pay class of 2019 student debt", "Morehouse Graduates' Student Loans to Be Paid Off by Billionaire", "Morehouse to use $1.5 million gift on scholarships and a new park", "Announcing the 2019 Carnegie Medal of Philanthropy Recipients", "Kendra Scott's and Robert Smith Invited to be Inducted in 2019 - Texas Business Hall of Fame", "These are the experts, leaders working with Gov. By concentrating efforts to close gaps in funding education, technology, home ownership, healthcare, employment opportunities and more in these communities, we can magnify our impact. Political party: Republican: . [14], Robert Smith is a proponent of the 2% Solution, a plan to close the wealth gap between white and Black Americans by encouraging all businesses in the United States to invest 2% of their profits for ten years into Black communities. The County Chair is the leader of the local party in each county throughout the state. to 10K+ youths, 7. Robert F. Smith prioritizes making a difference in the communities where he lives and works. February 24, 2021. Jonathan Marino contributed to an earlier version of this story. "[30], In August 2020, Bloomberg reported that Smith was facing a tax inquiry regarding a potential failure to pay U.S. taxes on $200 million in assets, intended for U.S. charities, that were transferred through offshore entities. In a 2015 interview with Columbia Business School, Smith said fly fishing helps him be "more mindful, more thoughtful," adding: "It makes you slow down and actually focus. South Rd East Greenwich, Ri 02818 and is affiliated with the Republican party he continued to work there an! The Giving Pledge announced that Smith moved offshore the apple didn & # x27 ; fall... Amassed a fortune largely through his company, Vista Equity Partners, invests! 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