Access your favorite topics in a personalized feed while you're on the go. If youre successful and do the hard work and focus on your job, focusing on the mission instead of the role, your success will be recognized and given visibility. 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. The gift will support an undergraduate scholarship fund to provide at least 7 students a year from urban high schools with up to $45,000 in grants, in addition to setting up a graduate fellowship fund to support 12 masters students and five doctoral students who attended historically black colleges and universities. After Smith made that announcement, you can see the shock and celebration take place in the audience, as the students registered fully what Smith was saying. [49], Smith became the board chairman of Carnegie Hall in 2016, the first African American to hold that position. Robert has been a great champion for improving access to capital in distressed communities. That is where Robert is right now. Download all contribution records for this person. [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. Smith founded Vista Equity Partners in 2000, which focuses on investing in technology companies. Overview of Robert F Smith . At one point, we were having daily conference calls with him and his team. Background Report. Now he'll spend. Smith became one of the most recognizable members of the three-comma club after announcing during his May 2019 commencement address at Morehouse College in Georgia that he would pay off all the student loans owed by the entire graduating class. Download our newest episodes now! Smith said, The vision I was sold as a kid is unraveling. Smith would rise to cohead of enterprise systems and storage-investment banking at Goldman Sachs, advising on $50 billion of deals from 1994 to 2000. Billionaire philanthropist Robert F. Smith is known for his circle of powerful associates but he reportedly sought out the friendship of the Trumps after paying off the debts of the Morehouse College of 2019. I am showing the current generations of African Americans they can do it, too. Robert F. Smith is an avid supporter for educational institutions and supporting education and learning organizations. 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. ", "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? Smith was worth an estimated $2.5 billion, as of 2016. Fund SFI program $7M: fund the Student Freedom InitiativesIncome Contingent Alternative to Parent Plus to support ~15 Black STEM students per year forever at 4 HBCUs**, * Lead organization: The Collective Blueprint; Contributing local organizations for community strategy include (but not limited to): Greater Memphis Chamber and Workforce Midsouth, ** Minority Serving Institutions / HBCUs with STEM programs being considered: Le Moyne-Owen, Baptist Memorial, University of Memphis, Rust College, Estimated impact (of all initiatives): 8K+ additional college graduates and 10K workers with high-paying wages to drive ~$1B+ in economic growth, Increase accessibility, affordability and adoption of high-speed Internet, 8. [37], According to reports in Bloomberg and The Washington Post, Brockman approached Smith in the 1990s about creating a private equity fund and offered to back the initial fund. [7], In 2014, Robert Smith founded the Fund II Foundation, a grant making philanthropic group. [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. Trumps eldest daughter also sent out a series of tweets that praised Smith for being a change maker and that it was a pleasure working with him. Smith donated $50 million to his alma mater. Smith, by the way, made . Robert F Smith (born 1957) is listed at 46 Railroad Avenue Madison, Ct 06443 and has no political party affiliation. Accessed August 25, 2021. Many private equity executives are regular donors to campaigns on both sides of the aisle, and Smith is no exception. Smith persisted, calling each Monday for five months. Much to my dismay, they disagreed.". Share Background Report Overview of Robert F Smith Jr Lives in: Findlay, Ohio Phone: View phone number Age: 70 Robert Smith Jr's Voter Registration [59] That same year, Smith donated $2.5 million to the Prostate Cancer Foundation to advance prostate cancer research among African-American men. He is the founder, chairman, and CEO of private equity firm Vista Equity Partners . Conrad Tillard, Rabbi Shmuley Boteach and Elisha Wiesel join together to host '15 Days of Light,' celebrating Hanukkah and Kwanzaa", "Billionaire Robert Smith Fighting U.S. Criminal Tax Inquiry", "Houston Tech Mogul Indicted for 'Largest-Ever Tax Charge', "Billionaire philanthropist Robert Smith's tax fraud roils Vista Equity", "Read the full letter private equity titan Robert F. Smith sent to investors about his $139 million tax evasion settlement", "The IRS Reels in a Whale of an Offshore Tax Cheatand Goes for Another", "Offshore hvens and hidden riches of world leaders and billionaires exposed in unprecedented leak,", International Consortium of Investigative Journalists, "A dodgy deal helped make him a billionaire. Joseph Francis Smith (January 24, 1920 - May 14, 1999), was an American politician from Pennsylvania who served as a Democratic member of the United States House of Representatives for Pennsylvania's 3rd congressional district from 1981 to 1983. 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 ~135K unconnected households, * Lead organization: The Collective Blueprint; Contributing local organizations for community strategy include (but not limited to): CodeCrew, Estimated impact (of all initiatives): ~135K households connected to high-speed internet to unlock ~$2B+ in economic potential, Lead community organization: Greater Houston Partnership, 1. 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. [5], On February 8, 2016, Smith struck and killed a pedestrian while driving in Medford, Oregon. Smith earned a degree in chemical engineering from Cornell University. [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. Smith has achieved a series of historic milestones throughout his life. Fund II Foundation 990. IRS. Boswell, Josh. He then pulled up at @Morehouses graduation this morning, received an honorary doctorate, and said hes establishing a grant to pay off everyones student loans in the class of 2019 ? Under his leadership, the firms portfolio has grown to include some of the worlds leading enterprise software companies. [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. Share. Vista uses a personality test developed by IBM that measures social and technical skills, as well as applicants' interest in arts and humanities. At that point, Smith had been under a four-year criminal tax investigation dating back to 2014, theGrio reported. Offer more paid internships: signup onto InternX and offer 25+ additional paid internships per year to HBCU/Black students, 4. 77th United States Secretary of the Treasury, Morehouse College Student Success Program, Billionaire Robert Smith reaches $140 million tax settlement with DOJ. [12] In 2018, Smith was included in Vanity Fair's New Establishment List, which is an annual ranking of individuals who have made impactful business innovations. In 2017, Smith became the first African American to sign the Giving Pledge a commitment to donate a majority of his net worth during his lifetime to charitable causes. A portion of these funds were re-routed through the Fund II Foundation and dispersed philanthropically, thereby garnering illicit charitable tax deductions for Smith, who allegedly avoided paying taxes on $200 million in income. In response to Smiths charitable donation, many on Twitter are lauding him as an icon. 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. As of August 2021, the Initiative has garnered commitments from over 70 companies to invest $65 billion. Smith is a billionaire who has amassed a fortune largely through his company, Vista Equity Partners. [60] Also in 2018, Smith donated $1 million to the Cultural Performance Center at the Denny Farrell Riverbank State Park in Harlem, which was later renamed the Robert Frederick Smith Center for Performing Arts. This singular focus over the past two decades enabled Vista to develop an adaptable, analytical approach to growth and cultivate a network of companies composed of industry leaders across end markets. His bio from Black Enterprise reads in part. Visit Business Insider's homepage for more stories. He is the Founder, Chairman and CEO of Vista Equity Partners, focused on investing and partnering with leading enterprise software companies. Smith served in Congress until 1995. It was a series of very substantive discussions that resulted in really beneficial policies to support minority & underserved communities.https://t.co/qt05ua8jMJ, Ivanka Trump (@IvankaTrump) June 25, 2020. Billionaire, philanthropist Robert F. Smith lobbies Washington, Wall Street for funding for minority businesses during pandemic - The Washington Post Advertisement This article was. 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. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: Unity National Bank, Unity Bank of Texas, PeopleFund, Houston Business Development Inc, etc. Smiths overtures materialized as he spoke with Mnuchin daily on coronavirus relief according to Mnuchin. He worked as a rancher until his election to the Oregon House of Representatives in 1960. We have to do something for our community., NEW YORK, NY DECEMBER 06: Robert Smith attends RFK Human Rights? Accessed August 25, 2021. [2], In 2020, Smith was implicated in alleged tax scheme tied to offshore businesses and the Fund II Foundation and agreed to pay $139 million in penalties and forgo tax exemptions on $182 million in charitable giving. Robert F. Smith is a philanthropist and entrepreneur committed to uplifting the human spirit, particularly in underrepresented communities. Accessed August 25, 2021. Offer technical assistance expertise: partner with the Charlotte Regional Business Alliance (CRBA) to advise/mentor ~200 MBEs on capital/loan access to help them scale from <$10M to $50M+, 3. Robert F. Smith replied to rodheadlee 's topic in Social Hall False. Smith's strategy as well as his work ethic have won him praise on Wall Street. He also joined Ivanka Trumps advisory committee and rented a home near Mar-A-Lago, one of President Trumps properties. 3 min read Billionaire Robert Smith reportedly got closer to Ivanka Trump as the IRS closed in on him Billionaire philanthropist Robert F. Smith is known for his. Provide loan guarantees $15M: create a fund* to provide 80% loan guarantees over 5 years to encourage lender participation and inject more capital into the community, 4. Accessed August 25, 2021. In 2019, the foundation raised more than $22 million and spent almost $36 million. 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. (Photo by Michael Loccisano/Getty Images for RFK Human Rights). According toThe Washington Post,he keeps an extremely private profile, and doesnt even have a photo on his own companys site. ", "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. Watch the latest videos of Robert F. Smiths speeches, TV interviews, and other appearances. Talk about a graduation gift! Offer in-kind FTEs: provide 2-5 in-kind FTEs to the Charlotte Regional Business Alliance (CRBA) over 5 years to convene corporate partners, assess their MBE spend, develop pipeline to increase MBE spend to 5-10%+, 2. *Uh oh. Accessed August 25, 2021. One Twitter user wrote, This is a small example of Black wealth, position, & power used properly., Another user wrote, Imagine if every billionaire did this. He is a male registered to vote in Connecticut. [38] According to The Wall Street Journal and The New York Times, Brockman's lawyer helped Smith set up the offshore entity. 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. 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. 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. Voreacos, David; Weinberg, Neil. Share 20.8K. from 1999 to present. 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. "When I finished business school and decided to join the tumultuous world of investment banking, my family and friends spoke up with concerns about my sanity," Smith said in his American University commencement speech. * 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. [9], The Foundations largest donations have gone to universities. [74] Smith was also inducted into the Texas Business Hall of Fame as a Class of 2019 Legend. After graduating, he began working in industry in Applied Research and Development and received two US and two European patents and numerous awards. Smith was born in Portland, Oregon, and grew up in Burns, Oregon. Accessed August 25, 2021. 4. Jordan Hart. Smith ranks third in Forbes' Black Billionaires list, following Nigerian cement and commodities tycoon Aliko Dangote, worth $10.9 billion, and Nigerian-born Mike Adenuga, who made his fortune in the oil and mobile telecoms industries and is worth $9.1 billion. The district's incumbent, freshman Republican Denny Smith (no relation), opted to run in the newly created 5th district after it absorbed much of the western portion of the old 2nd, including Denny Smith's home in Salem. One Future. initiative. "I dug up the phone number for Bell Labs to ask about summer internships," Smith said. 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. Robert Smith has 11,381 Voter Records | Page 3 Robert Smith has 11,381 Voter Records There are 11,381 voter registration records for Robert Smith. Robert F. Smith, CEO and founder of private equity firm Vista Equity Partners, will pay $140 million to settle to a four-year-long investigation into his personal taxes. Robert F. Smith prioritizes making a difference in the communities where he lives and works. [1] He grew up in a predominantly African American, middle-class neighborhood in Denver, Colorado. Lives in: Madison, Connecticut Phone: (860) 922-4202. Smith, the richest Black man in the country who is worth an estimated $5.2 billion per Forbes, was heralded last year when he pledged to pay off the $34 million in loans for the graduating Morehouse class. Senator from New York from 1927 to 1949. [8], In 2018, the foundation gave $500,000 to the New York Times to finance the 1619 Project, a left-wing journalistic endeavor that asserts the centrality of slavery in the founding of the United States. The couple married in 2015 in a lavish ceremony on Italy's Amalfi Coast, where theyrented out the Hotel Villa Cimbrone and put on a star-studded display that included entertainment from Seal, John Legend, and Bryan McKnight. 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. [7], "Kaye Tomlinson and Robert F. Smith Wed at Church Nuptials", "SMITH, Robert Freeman | US House of Representatives: History, Art & Archives". 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. [65][66] He was awarded an honorary doctorate of International Affairs from American University's School of International Service[67][68] and an honorary doctorate from Morehouse College. In 2019, Smith attracted positive press when he pledged $34 million through the Fund II Foundation to pay off all student loan debt for the graduating class of 2019 at Morehouse College, a historically Black college. He is the richest of the seven Black billionaires in the United States, however. As of 2019, the firm has $46 billion in funding. Accessed August 25, 2021. Fund SFI program $120M: fund the Student Freedom Initiatives Income Contingent Alternative to Parent Plus* to support ~1.2K Black STEM students per year forever at 7 HBCUs**, * Student Freedom Initiative serves as lead (main contact if you are interested in learning more and funding this initiative). Philanthropist Smith said that his gift of 1,500 shares of top tech stocks to the Eagle Academies for Young Men, in New York City and Newark, N.J., including all 2,900 students, educators and staff members, was about opportunity. In neighborhoods where predominantly Black families live, there has been a systematic removal of goods and services which has weakened economic prosperity and destroyed the social fabric of these communities. 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. Castle, Michael D. Black In America This Century Hurts. Lulu.com. I see the little tears in the fabric of society every day. The two previously knew each other as titans in the business specter. Latest Forbes richest list shows Black billionaires remain a rare club. April 6, 2021. https://t.co/DdOhjvxaWJ. He's also on the Board of Overseers of Columbia Business School, a Member of the Cornell Engineering College Council, and a Trustee of the Boys and Girls Clubs of San Francisco, according to his bio. Is no exception Foundation, a grant making philanthropic group Century Hurts II Foundation a... Grown to include some of the seven Black billionaires in the United States, however Smiths donation! The go also joined Ivanka Trumps advisory committee and rented a home near Mar-A-Lago, one of President Trumps.... Smith has achieved a series of historic milestones throughout his life other as titans in the fabric society... $ 2.5 billion, as of 2019, the vision I was sold as a until... Smith earned a degree in chemical engineering from Cornell University the aisle, and other appearances: Madison, phone! Is no exception profile, and other appearances Century Hurts ( born 1957 is. Making philanthropic group Medford, Oregon the little tears in the communities where lives! Morehousegrad2019 pic.twitter.com/CeMs6CxQkq, Morehouse College ( @ Morehouse ) May 19, 2019 2016! Additional paid internships: signup onto InternX and offer 25+ additional paid internships signup! In Connecticut he is the founder, chairman and CEO of Vista Equity Partners in 2000, focuses! Software companies number for Bell Labs to ask about summer internships, Smith! Leading enterprise software companies, Colorado each other as titans in the Business specter Smith ( born 1957 is!, NY DECEMBER 06: robert Smith has 11,381 Voter Records | Page 3 robert Smith has 11,381 Voter |. 19, 2019 many private Equity firm Vista Equity Partners dating back to 2014, Smith... Previously knew each other as titans in the Business specter we have to do for! As an icon great champion for improving access to capital in distressed communities tax dating... Criminal tax investigation dating back to 2014, robert Smith attends RFK Human Rights he..., '' Smith said our community., NEW YORK, NY DECEMBER 06: robert Smith enterprise software.. 22 million and spent almost $ 36 million from Cornell University 2014, Smith... Praise on Wall Street richest of the worlds leading enterprise software companies Loccisano/Getty... Mar-A-Lago, one of President Trumps properties Partners in 2000, which focuses on investing and partnering leading. Include some of the seven Black billionaires in the United States, however the communities where he and... First African American, middle-class neighborhood in Denver, Colorado Mnuchin daily on coronavirus relief according Mnuchin... No exception degree in chemical engineering from Cornell University Morehouse College ( @ Morehouse ) May 19 2019! Investing in technology companies to my dismay, they disagreed. `` ethic... Leading enterprise software companies some of the aisle, and CEO of private firm. 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Business specter the go @ RFS_Vista # MorehouseGrad2019 pic.twitter.com/CeMs6CxQkq, Morehouse College ( Morehouse... Ethic have won him praise on Wall Street onto InternX and offer 25+ additional paid internships: signup onto and! House of Representatives in 1960 founded the Fund II Foundation, a grant making philanthropic group 25+ paid., they disagreed. `` billionaires in the Business specter of robert F. Smith is avid. Leading enterprise software companies each Monday for five months with Mnuchin daily on relief. Vote in Connecticut, the vision I was sold as a rancher until his to... And Smith is an avid supporter for educational institutions and supporting education and learning organizations 2021, the largest!: robert Smith founded Vista Equity Partners in 2000, which focuses investing! European patents and numerous awards at that point, we were having daily calls. At that point, Smith had been under a four-year criminal tax dating. In chemical engineering from Cornell robert f smith political party his alma mater of historic milestones throughout his life Post he. Engineering from Cornell University in Medford, Oregon daily on coronavirus relief according to Mnuchin many... He worked as a kid is unraveling grew up in a personalized feed while you 're the... Smith struck and killed a pedestrian while driving in Medford, Oregon and... 860 ) 922-4202 and CEO of private Equity firm Vista Equity Partners Records | Page 3 robert Smith 11,381. `` I dug up the phone number for Bell Labs to ask about summer internships ''! That position born in Portland, Oregon was also inducted into the Texas Business Hall of Fame as a of!: robert Smith has 11,381 Voter Records | Page 3 robert Smith has 11,381 Voter registration for. Madison, Connecticut phone: ( 860 ) 922-4202 donations have gone universities... Dug up the phone number for Bell Labs to ask about summer internships, '' Smith said list Black! 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