Philanthropy. Robert F. Smith. [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. Smith is a billionaire who has amassed a fortune largely through his company, Vista Equity Partners. After the applause and chants of MVP died down, he also said in part, I know my class will make sure they pay this forward and I want my class to look at these alumnus, these beautiful Morehouse brothers, and lets make sure every class has the same opportunity going forward., Robert F. Smith endowed a scholarship for 1.5M in January. Silicon Valley may be best known for billion-dollar valuations and soaring real-estate prices, but Smith's strategy is practically contrarian: He's investing in software and technology companies that aren't in the least bit flashy. [2], On February 19, 1966, Smith married Kaye Elizabeth Tomlinson in Salem. 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 . Political party: Republican: Spouse: Kaye Elizabeth Tomlinson (m. 1966) Education: Willamette University : Robert Freeman Smith (June 16, 1931 - September 21, 2020), commonly known as Bob Smith, was an American Republican politician who represented Oregon in the United States House of Representatives from 1983 to 1995 and from 1997 to 1999. Smith's held the party at his waterfront estate in Palm Beach, Fla. Sotheby's International Realty Attendees weren't encouraged to enter the $48 million house a 25,000-square-foot spread. Two years ago, Fund II Foundation developed Cradle to Greatness, a framework that aligns our strategic grantmaking priorities with outcomes that prepare and propel generations of talent. Smith gave a commencement speech at American University's 2015 graduation, where he spoke about his earliest attempts to get work in Silicon Valley while he was still in high school. 2020 Transaction Count/Amount. [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. Yes, he's richer than Oprah. His bio from Black Enterprise reads in part. The move cost Smith $34 million. [24], On May 19, 2019, during his 2019 commencement speech at Morehouse College, Smith pledged a reported $34M in student loan debt, "(including) the debt of parents and guardians incurred" over the educational pursuit of each member of the 2019 graduating class. 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. Fund scholarships and hire coaches ~$35M: scale Birmingham Promise fund to financially support 200-250 students per year over 4 years to increase college retention and graduation rates, 5. [59] That same year, Smith donated $2.5 million to the Prostate Cancer Foundation to advance prostate cancer research among African-American men. Smith has donated at least $1.6 million to the Democratic National Committee, according to Open Secrets, a non-profit, nonpartisan research group that tracks the effects of money and lobbying on elections and public policy. Smith left Goldman Sachs, where he worked on tech M&A, in 2000 and launched his own private equity firm. So the next generation can go even higher., Robert F. Smith says his mother's giving help inspire his philanthropy: "She instilled in me the importance of giving to the community" https://t.co/c4NHbWdOsS pic.twitter.com/vu6kamY7IB. chairman for the Robert F. Kennedy Center for Justice and Human Rights. The payments were made through the Morehouse College Student Success Program. In 2017, he joined the Giving Pledge, pledging to donate a majority of his net worth during his lifetime. Throughout his life, Smith has continuously supported a number of philanthropies and causes. 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.) In the years since its founding, the firm has generated bumper returns for investors and gradually increased assets under management. Sometimes we think its just the Giving Pledge-kind of people making a difference, but its also individuals who may not have great wealth but who give generously of their time and resources. He's the founder of the . 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. 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. Lead community organization: The Collective Blueprint, Increase the volume and value of Black-owned businesses through corporate MBE spend and MBE startups & scaling, 1. [2][50], Also that year, Cornell University named the Robert Frederick Smith School of Chemical and Biomolecular Engineering after him, following a donation. [2][41][42] Also in 2014, Smith received an honorary doctorate from Huston-Tillotson University. 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. 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. [10] [11], After the Morehouse College donation, the Fund II Foundation co-founded the Student Freedom Initiative with a $50 million grant. [1] By January 1971, Smith and his wife had two sons and a daughter. Smith has been cooperating with the investigation and will admit failing to pay about $30 million in taxes, with penalties and interest accounting for the total payout. [23], The 2019 PitchBook Private Equity Awards named Vista Equity Partners "Dealmaker of the Year". This effort will drive corporate collaboration with local grassroots community organizations to help achieve scalable projects that can be rolled out across the country wherever inequity exists. 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. However, that did not stop Ivanka from aligning herself with the tech giant. Education: Willamette University : Robert Freeman Smith (June 16, 1931 - September 21, 2020), commonly known as Bob Smith, was an American Republican politician who represented Oregon in the United States House of Representatives from 1983 to 1995 and from 1997 to 1999. We will only grasp the staggering potential of our time if we create on-ramps that empower all people to participate, regardless of background, country of origin, religious practice, gender, or color of skin. Accessed August 25, 2021. Columbia Business School Smith's generous gift of $15 million to the Columbia Business School in 2017, helped the School secure its $500 million fundraising goal for its move to Manhattanville. What to know about Robert F. Smith, the man paying off Morehouse grads student loans. CNN Business. This agreement came alongside Smith agreeing to assist the DOJ in creating a separate case against Robert T. Brockman, who had been charged with hiding $2 billion in income. 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. [7][8] In 1994, he received his Master of Business Administration from Columbia University with concentrations in finance and marketing. [5] The wedding was attended by F. F. Montgomery, the Speaker of the Oregon House of Representatives, among others. Jordan Hart. Issue digital access equality bonds: issue equality progress bonds and invest proceeds into SCIs digital access initiatives, 5. What a time to be a Morehouse Man. A primary election is an election in which registered voters select a candidate that they believe should be a political party's candidate for elected office to run in the general election. "Think about 400 young African American men who had just done the heavy lift. on the Board of Overseers of Columbia Business School, Smith ranks third in Forbes' Black Billionaires list, 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, Robert F. Smith is a billionaire tech investor and philanthropist who founded and serves as CEO of, Smith was the target of a four-year investigation into his personal taxes that ended when the billionaire agreed to pay, Smith made headlines in May 2019 when he announced during his commencement address at Morehouse College that, Months later, he extended the $34 million gift to include the debt owed by the students' parents as well, per a Morehouse. [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. Robert Frederick Smith (born December 1, 1962) is an American billionaire businessman and philanthropist. Well done Robert F. Smith., Robert F. Smith: 5 Fast Facts You Need to Know, Copyright 2023 Heavy, Inc. All rights reserved. As of April 2021, Smith was the wealthiest Black American, with a net worth of $6 billion. According to Black Enterprise, his estimated net worth as of 2019 is $5 billion. 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. He is a male registered to vote in Connecticut. Robert F. Smith in Berlin, February 2018 (, https://www.usatoday.com/story/money/2021/04/06/jay-z-kanye-west-and-tyler-perry-seven-richest-african-americans/4579811001/, https://www.cnn.com/2019/05/19/business/robert-smith-billionaire-morehouse-gift-trnd/index.html, https://www.insidephilanthropy.com/home/2021/2/24/robert-f-smith-talks-black-philanthropy-systemic-change-and-addresses-tax-scandal, https://books.google.com/books?id=nBaqDAAAQBAJ&q=Robert+Frederick+Smith+1962&pg=PT71#v=snippet&q=Robert%20Frederick%20Smith%201962&f=false, https://robertsmith.com/about-robert-f-smith/, https://projects.propublica.org/nonprofits/display_990/472396669/02_2021_prefixes_47-47%2F472396669_201911_990PF_2021021317706243, https://apps.irs.gov/pub/epostcard/cor/472396669_201911_990PF_2021021317706243.pdf, https://apps.irs.gov/pub/epostcard/cor/472396669_201711_990PF_2018120715985020.pdf, https://robertsmith.com/2-percent-solution/, https://robertsmith.com/southern-communities-initiative/, https://www.bloomberg.com/news/articles/2020-08-21/billionaire-robert-smith-fighting-u-s-criminal-tax-inquiry, https://www.dailymail.co.uk/news/article-8816479/Billionaire-befriended-Trumps-inner-circle-investigation-dodging-taxes.html, Fund II Foundation In 1689, the British Parliament passed an extensive bill of rights, including the right to keep and bear arms (the people had just had to fight a real civil war). He was Speaker of the House for the 1969 and 1971 sessions. Smith is the richest black person in the United States, with a net worth of $5 billion, according to Forbes. Robert F. Smith prioritizes making a difference in the communities where he lives and works. 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. Vista uses a personality test developed by IBM that measures social and technical skills, as well as applicants' interest in arts and humanities. Smith is chairman and chief executive of Vista Equity Partners. Smiths probe by the FBI became public knowledge in August. The Grapevine-based company and its political arm aren't shy about their goals and plan to expand such activism beyond Tarrant County. October 8, 2020. 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. [54] That year, Smith was awarded an honorary doctorate from the University of Denver. Robert F. Smith replied to rodheadlee 's topic in Social Hall False. Robert is . In Austin, Smith has started programs supporting music education and minority entrepreneurship, according to The New York Times. The couple has two children together, and Smith has three other children from a previous marriage. Accessed August 25, 2021. Billionaire Robert Smith Fighting U.S. Criminal Tax Inquiry. Bloomberg. 2012 Election Cycle. In May and June, Smith made daily calls to Secretary Mnuchin regarding the COVID-19 pandemic. Search; . Got in Tax Evasion Trouble. He argued for the importance of a set aside (for minority owned small businesses in #PPP) and we agreed. July 14, 2016. [10] According to Black Enterprise magazine, Smith is credited with consistently generating a 30 percent rate of return for his investors from the company's inception to 2020. Overview of Robert F Smith . The County Chair is the leader of the local party in each county throughout the state. 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. [7], "Kaye Tomlinson and Robert F. Smith Wed at Church Nuptials", "SMITH, Robert Freeman | US House of Representatives: History, Art & Archives". [5], In 2000, Smith founded Vista Equity Partners, a private equity and venture capital firm focused on technology. From an early age, his parents stressed the importance of giving back and supporting his community. Smith said, The vision I was sold as a kid is unraveling. I see the little tears in the fabric of society every day. [4] In 1994, Smith earned an MBA from Columbia University and pivoted his career towards business and finance. Contribution Totals. Smith founded Vista Equity Partners in 2000, which focuses on investing in technology companies. Commit to supplier diversity: increase MBE spend in Charlotte region to 5-10%+, Estimated impact (of all initiatives): 3x increase in MBE value & ~13K new jobs, boosting Black communitys net worth by ~$2B+, 4. But Smith said he kept calling back "every day for two weeks straight," and after an intern from MIT didn't show up, he was accepted as an intern. [7], In 2014, Robert Smith founded the Fund II Foundation, a grant making philanthropic group. Joined the Giving Pledge, pledging to donate a majority of his net worth of 5... Under management heavy, Inc. All Rights reserved York Times doctorate from Huston-Tillotson University Need to know, 2023... Gradually increased assets under management society every day he argued for the 1969 and 1971 sessions early,! ] he attended Willamette University in Salem, Oregon, graduating in 1953 with a net worth of 6... Technology companies founding, the man paying off Morehouse grads Student loans for. 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