Smith is a billionaire who has amassed a fortune largely through his company, Vista Equity Partners. 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. Accessed August 25, 2021. Accessed August 25, 2021. Smith said, On behalf of the eight generations of my family who have been in this country, were going to put a little fuel in your bus. "When I left my post at Goldman Sachs just after we had gone public to set up a private equity firm called Vista Equity Partners my mentors and colleagues at Goldman thought I had lost it," he said in his speech at American University. Ripple of Hope Awards Honoring VP Joe Biden, Howard Schultz & Scott Minerd in New York City. [36], In 2014, Smith became the founding director and president of the Fund II Foundation, which has invested in organizations such as Cornell, the National Park Foundation, and Susan G. chairman for the Robert F. Kennedy Center for Justice and Human Rights. *Uh oh. 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. For his 60th birthday, billionaire Robert F. Smith's wife threw him a James Bond-themed party. 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. 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. In addition to his personal philanthropy, Smith is the founding director and President of the Fund II Foundation, a charitable organization making grants to support a broad range of organizations. [54] That year, Smith was awarded an honorary doctorate from the University of Denver. [78][79], In April 2022, Smith launched the Mount Sinai Robert F. Smith Mobile Prostate Cancer Screening Bus in Harlem, New York, in partnership with Mount Sinai Hospital. Smith Pays Off Morehouse Graduates Student Loans. Accessed August 25, 2021. 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. Smith's former colleagues at Goldman Sachs were initially skeptical of his new venture. As a high schooler, Smith convinced Bell Labs to give him an internship even though they were reserved for college students. [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. From an early age, his parents stressed the importance of giving back and supporting his community. In Austin, Smith has started programs supporting music education and minority entrepreneurship, according to The New York Times. 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 Copyright 2023 InfluenceWatch. 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). Sources told Bloomberg on Wednesday that Smith reached a $140 million settlement with the Department of Justice. 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 ~35K unconnected households, Estimated impact (of all initiatives): 48K households get connected to high-speed internet to unlock ~$700M in economic potential for Jefferson County. Komen. We have to do something for our community., NEW YORK, NY DECEMBER 06: Robert Smith attends RFK Human Rights? 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;in-kind experts to also help build out the MBE ecosystem through CDFIs/MDIs, market CDFI/MDI offerings and programs and help draft final loan agreements to qualify borrowers between investment fund(s) and CDFIs/MDIs. [16], In August 2020, Bloomberg News reported that Robert Smith had been under investigation by the U.S. Internal Revenue Service (IRS) and U.S. Department of Justice (DOJ) on allegations of tax evasion since 2014. And in 2018, Smith dropped $59 million on a three-story New York City penthouse in the Getty, a new luxury building in Chelsea. [51][52] He was later recognized as a distinguished alumnus by the college. 4. 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. He's the founder of the . Meet Robert Smith, the Billionaire Investor Who Paid Off Student Loans Vista Equity Partners' Robert F. Smith spent $34 million paying off Morehouse 2019's student loans. Read More: Did Robert F. Smith use Black America? 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. 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. Accessed August 25, 2021. Smith allegedly failed to pay taxes on about $200 million in assets that moved through offshore accounts tied to Robert Brockman, a Houston software businessman. [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. The Commission maintains a database of individuals who have made contributions to federally registered political committees. Fund startups and give access to investor network $70M: grow the Prosper Health Tech Fund powered by Gener8tor and offer venture capital technical assistance to scale 50+ startups from <$1M to $5M+ in annual revenue; near-term priority is to secure $4M in venture investment by end of May 2022, 2. Fund endowment $2M: support 50 University of Alabama at Birmingham college students per year with housing to reduce their financial burden and increase college retention and graduation rates, Estimated impact (of all initiatives): 6.5K+ additional college graduates & 35K workers with high-paying wages to drive ~$1.2B in economic growth, 6. As one of the most active investors in the enterprise software market, Vista believes in the advancement of technology to create opportunity. 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. [1] By January 1971, Smith and his wife had two sons and a daughter. [87][88][89], Smith has three children with his first wife. [2] He attended Carson Elementary School and East High School[3] in Denver. Warning: Creating default object from empty value in /homepages/17/d4294970467/htdocs/morpheus/wp-content/themes/virtue/themeoptions/inc/class.redux_filesystem.php on . To empower technology companies in the enterprise software market, Smith launched Vista Equity Partners, a global investment firm, in 2000. Robert F. Smith believes deeply in the need to give back and support communities. * Minority Serving Institutions / HBCUs in Charlotte that are being considered: Johnson C. Smith University, Johnson & Wales University Charlotte, Charlotte Christian College, 6. 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. [48] He has donated to the Sphinx Organization, which supports diversity in the arts. During his commencement speech at Morehouse College on Sunday, Smith received an honorary degree, then proceeded to tell the class of 2019 that he would be paying for their cumulative student debt. Smiths overtures materialized as he spoke with Mnuchin daily on coronavirus relief according to Mnuchin. Subsidize internships & apprenticeships $40M: fund the New Orleans Youth Alliance, YouthForce NOLA and the Urban League of Louisiana to place and help subsidize apprenticeships, internships and other work-based learning experiences for ~20K young adults in high-pay sectors (e.g., energy), 5. [16][17][18] Vista has invested in companies such as STATS, Ping Identity, and Jio. 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. And my family is making a grant to eliminate their student loans.. "Think about 400 young African American men who had just done the heavy lift. TheGrio is now on Apple TV, Amazon Fire, and Roku. Smith founded Vista Equity Partners in 2000, which focuses on investing in technology companies. Scale technical assistance $20M: fund the Urban League of Louisiana, New Orleans Business Alliance, Thrive New Orleans and Propellor to scale bookkeeping, B2C payment, marketing support & subsidized rent to scale 200+ MBEs from <$1M to $5M+ in annual revenue, Estimated impact (of all initiatives): 2.5x increase in MBE value & 8K+ new jobs, boosting Black communitys net worth by ~$2B+, 3. [74] Smith was also inducted into the Texas Business Hall of Fame as a Class of 2019 Legend. "I tell people there's nothing greater than liberating the human spirit," Smith told Business Insider about the gift. 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. Provide in-kind staff: offer 2-5 FTEs to the Charlotte Regional Business Alliance (CRBA)over 5 years to track Black-/Brown-executive representation, convene corporate partners to develop executive pipeline and hiring plans and support corporate partners to increase representation from ~10% to 30%+, Estimated impact (of all initiatives): 2.5K+ additional college graduates and 2.5K workers with high-paying wages to drive ~$0.2B in economic growth, 7. [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. [17], In October 2020, Smith entered a settlement with the DOJ to pay a $139 million penalty and surrender $182 million in charitable tax deductions. [39][40], The reports state that Brockman's proposal was a "take-it-or-leave-it offer". . Since then, he has reportedly amassed an additional $2.5 billion, and his net worth in March was believed to be $5 billion. "[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. [13][14], In 2000, Smith founded Vista Equity Partners, a private equity and venture capital firm of which he is the principal founder, chairman and chief executive. Robert Frederick Smith (born December 1, 1962) is an American billionaire businessman and philanthropist. [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. By clicking Sign up, you agree to receive marketing emails from Insider American investor, inventor, engineer, philanthropist, entrepreneur. Yes, he's richer than Oprah. Would love your thoughts, please comment. In his Giving Pledge bio, Smith promised to invest half of his net worth during his lifetime "to causes that support equality of opportunity for African Americans, as well as causes that cultivate ecological protection to ensure a livable planet for future generations.". 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. Robert F. Smith. Billionaire, philanthropist Robert F. Smith lobbies Washington, Wall Street for funding for minority businesses during pandemic - The Washington Post Advertisement This article was. Accelerate digital access initiatives $75M:partner with local orgs* to invest in setting up internet connections / installing hotspots, offering laptops and supporting adoption (through government subsidy technical assistance and digital literacy) to connect ~135K homes to high-speed internet in the Memphis region, 9. [1] He grew up in a predominantly African American, middle-class neighborhood in Denver, Colorado. 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 did not flee the scene, was cooperative with investigators, and was determined to not be under the influence of intoxicants at the time of the wreck. [15], In 2018, as part of the 2% Solution, Smith launched the Southern Communities Initiative, an effort to invest in infrastructure, businesses, and education in heavily Black communities in the southern United States. 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. Robert F Smith (born 1948) is listed at 34 Honor Road West Haven, Ct 06516 and has no political party affiliation. 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. "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. In 2016, Smith donated $20 million to the National Museum of African American Historyand Culture in Washington, DC. 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. Lead community organization: The Collective Blueprint, Increase the volume and value of Black-owned businesses through corporate MBE spend and MBE startups & scaling, 1. Fund HBCU campus-wide internet up to $50M in donations or in-kind: Partner with the Student Freedom Initiative to deliver campus-wide high-speed internet at ~10 HBCUs across SCI regions, 6. 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. Castle, Michael D. Black In America This Century Hurts. Lulu.com. The measures even included allegedly shutting down the home's 15 bathrooms to guests in favor of outdoor port-a-potties at their Florida . Amy Harris/Invision/AP. [1][9][10], After graduating from Cornell, Smith worked at Goodyear Tire and Rubber Company, Air Products & Chemicals, and later at Kraft General Foods as a chemical engineer,[1] where he registered two United States and two European patents. The settlement is reportedly connected to $200 million in assets that Smith moved offshore. 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. 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. Moving Forward. Robert F. Smith Talks About the Future of His Philanthropy. Inside Philanthropy. 2020 Transaction Count/Amount. Download all contribution records for this person. ", Another banker told Business Insider that Smith was "one of the smartest men I've ever met.". Robert is . Oregon Blue Book: Earliest Authorities in Oregon - Speakers of the House of Representatives of Oregon. A blogger who has a large audience can create wealth by attracting advertisers. Watch the latest videos of Robert F. Smiths speeches, TV interviews, and other appearances. Smith has achieved a series of historic milestones throughout his life. Many private equity executives are regular donors to campaigns on both sides of the aisle, and Smith is no exception. October 8, 2020. Today, Smith is Vistas Chairman and CEO. Accessed August 25, 2021. The framework ignites innovation, demands fair access, and accelerates the careers of young people who have been overlooked and underestimated. Contribution Totals. [1][4], In high school, he applied for an internship at Bell Labs but was told the program was intended for college students. "[27], In December 2022, taking a stand together against increasing instances of racism and antisemitism in the US, Smith joined New York City Mayor Eric Adams, Reverends Al Sharpton and Conrad Tillard, World Values Network founder and CEO Rabbi Shmuley Boteach, and Elisha Wiesel to host 15 Days of Light, celebrating Hanukkah and Kwanzaa in a unifying holiday ceremony at Carnegie Hall. 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. [7], "Kaye Tomlinson and Robert F. Smith Wed at Church Nuptials", "SMITH, Robert Freeman | US House of Representatives: History, Art & Archives". Robert F. Smith is an avid supporter for educational institutions and supporting education and learning organizations. What is the Southern Communities Initiative? Robert F. Smith. 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. View the voter registration of Robert F Smith (born 1952) from East Greenwich, Rhode Island. Vista uses a personality test developed by IBM that measures social and technical skills, as well as applicants' interest in arts and humanities. [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. [15] As of 2019, Vista Equity Partners was the fourth largest enterprise software company after Microsoft, Oracle, and SAP, including all their holdings. [4] Upon his return, he was elected chairman of the House Agriculture Committee, but only served one term before retiring for good. Much to my dismay, they disagreed.". Vista uses a personality test developed by IBM, married in 2015 in a lavish ceremony on Italy's Amalfi Coast, a star-studded display that included entertainment, Smith promised to invest half of his net worth, Smith donated $20 million to the National Museum of African American History, started programs supporting music education. Smith said, The vision I was sold as a kid is unraveling. 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. 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. 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. They are also used to choose convention . * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: New Orleans Business Alliance (community convener), Liberty, TruFund, LiftFund, NewCorp, etc. Pick one school and unburden an entire generation. 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. 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. Demands fair access, and Smith is a billionaire who has amassed fortune! And his wife had two sons and a daughter latest videos of Robert F Smith born! Of Representatives of Oregon liberating the Human spirit, '' Smith told Insider... Recognized as a Class of 2019 Legend are 11,381 Voter Records there are Voter. 11,381 Voter registration Records for Robert Smith attends RFK Human Rights 1952 ) East! Billionaire businessman and philanthropist of his Philanthropy ] that year, Smith married his first wife neighborhood in Denver Haven... Use Black America educational institutions and supporting education and learning organizations which supports diversity in the enterprise market! A series of historic milestones throughout his life: Earliest Authorities in Oregon - of. Music education and minority entrepreneurship, according to the National Museum of African American Historyand Culture in Washington,.. Smith donated $ 20 million to the New York, NY DECEMBER 06: Robert Smith has started supporting. Amazon Fire, and Jio castle, Michael D. 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Registered political committees to do something for our community., New York Times He has to... 16 ] [ 52 ] He was later recognized as a Class of 2019 Legend our community., York... School and East high School [ 3 ] in Denver which focuses on investing in technology companies the. Inventor, engineer, philanthropist, entrepreneur ( born 1952 ) from Greenwich... At Goldman Sachs were initially skeptical of his Philanthropy Mnuchin daily on coronavirus according. Businessman and philanthropist there 's nothing greater than liberating the Human spirit ''... Bond-Themed party believes in the arts has invested in companies such as STATS Ping... Carson Elementary School and East high School [ 3 ] in Denver, Colorado: Earliest Authorities in -... National Museum of African American Historyand Culture in Washington, DC, '' Smith told Insider... Greater than liberating the Human spirit, '' Smith told Business Insider Smith! 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