Robert F. Smith (investor) explained

Robert Smith
Birth Name:Robert Frederick Smith
Birth Date:1 December 1962
Birth Place:Denver, Colorado, U.S.
Education:Cornell University (BS)
Columbia Business School (MBA)
Occupation:Businessman, philanthropist
Chairman & CEO, Vista Equity Partners
Spouse:
    Children:7

    Robert Frederick Smith (born December 1, 1962) is an American billionaire businessman and philanthropist. He is the founder, chairman, and CEO of private equity firm Vista Equity Partners.[1] [2] He graduated from Cornell University with a chemical engineering degree and from Columbia Business School with an MBA, before working as an investment banker at Goldman Sachs. In 2019, while delivering the commencement speech at Morehouse College, Smith pledged to pay off the entire $34 million of student loan debt of all of the members of the 2019 graduating class.

    Early life

    Smith was born in Denver, Colorado, the fourth generation in his family to be born in Colorado.[3] His parents were Dr. William Robert Smith, an elementary school principal, and Dr. Sylvia Myrna Smith, the principal of George Washington High School, who both had PhDs in education.[4] [3] [5] [6] His father had attended the University of Denver on a band scholarship, playing percussion and piano.[7] Asked about his mother in 2020, he said: "She usually calls me to tell me what I can do a little better."[4] His paternal grandmother was an educator, and his paternal grandfather was a Pullman Porter.[3] His maternal grandfather was a postmaster for three post offices in the Washington, D.C. area, and before that while in high school worked in the U.S. Russell Senate Office Building, serving coffee and taking hats and coats in the lounge.[4]

    He grew up in a predominantly African-American, middle-class neighborhood in East Denver.[3] When he was an infant, his mother carried him when he was six months old at the March on Washington, where the Rev. Dr. Martin Luther King Jr. delivered his "I Have a Dream" speech.[6] [8] He attended Carson Elementary School and Gove Junior High School in Denver.[9] [10] [11]

    Education and early career

    Smith then attended East High School ('81) in Denver.[11] While in high school, he applied for an internship at Bell Labs, but was told the program was intended for college students. Smith persisted, calling each Monday for five months. When a student from M.I.T. did not show up, he got the position, and that summer he developed a reliability test for semiconductors.[12] [13]

    Smith earned a bachelor's degree in chemical engineering from Cornell University in 1985.[14] [15] While there, he won the Procter and Gamble Technical Excellence Award for chemical engineering.[3] In 1982 he became a brother of Alpha Phi Alpha (ΑΦΑ) fraternity.[16] [17] [18]

    After graduating from Cornell, Smith worked at Goodyear Tire and Rubber Company and Air Products & Chemicals. Later, he worked at Kraft General Foods as a chemical engineer, and registered two United States and two European patents as the principal inventor.[3] [5] [19]

    In 1994, he received his Master of Business Administration from Columbia University, with concentrations in finance and marketing.[20] [21]

    From 1994 to 2000, after receiving his MBA he worked for investment bank Goldman Sachs in technology investment banking. He first worked for it in New York City, and then moved to Silicon Valley in 1997 where he started Goldman's technology-focused merger and acquisitions efforts there.[3] [11] He advised on $50 billion in merger and acquisition activity with companies such as Apple, Microsoft, Texas Instruments, eBay, and Yahoo.[22] [3]

    Vista Equity Partners

    In 2000, Smith founded Vista Equity Partners, an Austin, Texas-based private equity and venture capital firm of which he is the principal founder, chairman, and chief executive.[23] Vista purchased enterprise software businesses and brought performance improvements to the businesses.[3] According to Black Enterprise magazine, Smith was credited with consistently generating a 30% rate of return for his investors from the company's inception through 2020.[24] As of 2019, Vista Equity Partners was the fourth-largest enterprise software company, after Microsoft, Oracle, and SAP, including all their holdings.[25] [26] [27] Vista has invested in companies such as STATS, Ping Identity, and Jio.[28] [29] [30] As of 2019, Vista Equity Partners had closed more than $46 billion of funding.[31]

    In 2016, Smith was named Private Equity International's Game Changer of the Year for his work with Vista.[32]

    In 2018, Smith was included in Vanity Fairs New Establishment List, which is an annual ranking of individuals who have made impactful business innovations.[33] [34] The 2019 PitchBook Private Equity Awards named Vista Equity Partners "Dealmaker of the Year".[35]

    In January 2022, the company had $86 billion in assets under management.[36]

    Philanthropy

    Smith joined The Austin Trail of Lights as a partner in 2012, and since then, Smith and Vista Equity Partners have sponsored programs and displays of the event. The event is the longest-running display of holiday lights in Austin, TX.[37]

    In 2013, Smith joined the Carnegie Hall Board of Trustees and donated money to expand Link Up, which creates a free music education curriculum for elementary students.[38]

    In 2014, Smith and Vista Equity Partners sponsored the Menuhin Competition's first visit to the U.S. in Austin, TX. The competition is the world’s leading international competition for young violinists.[39]

    In 2015, Smith sponsored the college education of all returned Boko Haram girls.[40] [41] Also in 2015, Smith and his wife provided support to the non-profit organization Foster Love through Fund II Foundation by creating the Family Fellowship Program. This program provides financial and emotional support to students within the program. Smith has hosted fellows at his home in Colorado during the winter season.[42]

    In 2016, Smith and his brother worked with the United Negro College Fund (UNCF) to establish the UNCF Sylvia M. Young Smith Scholarship Program. The program awards six merit-based scholarships valued at $100,000 to students attending HBCUs in the U.S.[43] [44] Following this, he donated $50 million to Cornell University, of which $20 million went to Cornell University’s College of Engineering and $10 million in Tech Scholars scholarships for Black Americans and women. This donation resulted in the university renaming its engineering school the Robert Frederick Smith School of Chemical and Biomolecular Engineering. That same year, he donated $1 million to Carnegie Hall.

    Also in 2016, Smith donated $20 million to the National Museum of African American History and Culture. His donation helped establish the Robert F. Smith Explore Your Family History Center and the Robert Frederick Smith Internship and Fellowship Program.[45] [46] He also contributed $250,000 to the Sphinx Organization. The donation helped create the Robert Frederick Smith Prize, which awards some of the winners of the Sphinx Competition with $50,000 to provide access to professional development and other resources that can help create bridges to careers in classical music.[47]

    Through Fund II Foundation, Smith helped to establish the African American Health Equity Initiative (AAHEI), now known as Stand for H.E.R.– Healthy Equity Revolution, at the Komen Foundation with a $27 million donation in 2016.[48]

    In May 2017, The Giving Pledge announced that Smith had joined as its first Black American signatory.[49] That year, he also made a $15 million donation to Columbia Business School to help it expand to its new Manhattanville campus.[50] Also in 2017, Smith contributed an additional $1 million to the Sphinx Organization.[51]

    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.[52] That same year, Smith donated $2.5 million to the Prostate Cancer Foundation to advance prostate cancer research among Black American men and created the Robert Frederick Smith Precision Oncology Center of Excellence in Chicago, located at the Jesse Brown VA Medical Center.[53] [54] 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.[55] Also in 2018, Fund II Foundation gave a $3 million grant to the Louis Armstrong House Museum, with the grant helping digitize Armstrong's collection to make it available to the public and hire fellows and interns.[56] [57] [58]

    On May 19, 2019, during his 2019 commencement speech at Morehouse College, a historically Black college in Atlanta, Georgia, Smith said he would pay off the entire student loan debt of the 2019 Morehouse College graduating class of 396 students, a reported $34M in student loan debt, including the debt incurred by parents and guardians.[59] [60] [61] [62] [63] He had previously donated $1.5 million to the school in January 2019, to be used for the Robert Frederick Smith Scholars Program and a campus park with an outdoor study area.[64]

    Smith established internXL through Fund II Foundation in 2019 to help match diverse internship candidates with paid internships at leading companies. Smith stated that he was inspired by his own internship experience with Bell Labs, which is what led him to create the platform.[65] [66]

    Under Smith’s leadership, Fund II Foundation made a preservation gift in 2019 to buy and preserve the homes of Rev. Dr. Martin Luther King Jr. through the National Park Service.[67] Fund II Foundation also made a contribution of $3 million to the Sphinx Organization in 2019 under Smith’s leadership.

    In a June 2020 report, Time reported the launch of Student Freedom Initiative (SFI) with a contribution of $50 million from Fund II Foundation and an additional $50 million from Smith, to benefit HBCU students.[68]

    In 2021, Smith partnered with Goalsetter on an initiative to help one million Black and LatinX youth become shareholders, and Smith gifted five shares of stock — equivalent to approximately 15,000 shares — to 2,900 students, educators, and staff members.[69]

    In January 2022, he donated $10 million to Columbia Business School, to fund the Robert F. Smith ‘94 Scholarship Fund for students graduating from historically black colleges and universities, from diverse backgrounds who have overcome significant hardships or challenges in their academic pursuits, or who have demonstrated a strong commitment to engaging principles of diversity, equity, and inclusion.[70]

    In February 2022, SFI, partnered with Prudential Financial to provide up to  $1.8 million in microgrants to students of HBCUs.[71] [72]

    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.[73] [74]

    In May 2022, Cornell University announced a $15 million donation from Smith that will provide financial aid to engineering students from historically underrepresented communities. 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 master’s students and five doctoral students who attended historically black colleges and universities.[75] Smith had previously made a donation that provided similar funding for underrepresented students at Cornell’s School of Chemical and Biomolecular Engineering.

    In June 2023, Smith helped launch a new branch location of Grameen America in Atlanta, Georgia through his leadership of Southern Communities Initiative. The goal of this branch is to help support a greater number of entrepreneurial women of color.[76] Also in 2023, it was announced that Mansa, a free ad-supported streaming service, would be launching, for which Smith provided initial funding.[77]

    Smith co-founded Anglers of Honor., a charitable organization that strives to make therapeutic fly-fishing opportunities available to individuals with physical disabilities and their families and is a River Deep alliance program.[78]

    Smith has also donated $300,000 to Jane Goodall’s youth environmental program Roots and Shoots.[79]

    Politics

    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. [80] [81]  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."[82]

    Tax fine

    In the 1990s, businessman Robert T. Brockman approached Smith about creating a private equity fund, and offered to back the initial fund.[83] As part of the deal, Brockman required an offshore trust be set up to conceal earnings from tax authorities and avoid litigation in US courts. Brockman also required that the first fund be located in the Cayman Islands, and set aside some of the interest earned to protect him against losses.[84] Brockman's proposal was a "take-it-or-leave-it offer". According to Smith's later non-prosecution agreement, Brockman dictated "the unique terms and unorthodox structure to the arrangement" and he accepted the offer as a "unique business opportunity he eagerly wanted to pursue". Brockman's lawyer helped Smith set up the offshore entity.[85] [86]

    In October 2020, Smith entered into a non-prosecution agreement with the United States Department of Justice (DOJ), agreeing to assist the DOJ in a separate case against Brockman who was charged that month with what the DOJ called the "largest ever" tax fraud scheme by a U.S. citizen, and to pay a fine of $139 million.[87] [88] [89] [90] [91] [92] According to the DOJ, Brockman led Smith to use the offshore trust that concealed income.[93] Brockman died in August 2022, while his trial was pending.[87]

    Other achievements

    Smith has served as the chairman of Robert F. Kennedy Human Rights,[94] on the board of overseers of Columbia Business School, as a member of the Cornell Engineering College Council,[95] on the Cornell University Tech Board, and since 2008 as a Trustee of the Boys & Girls Clubs of San Francisco.[17] [96]

    In 2014, Smith became the founding director and president of the Fund II Foundation.[97] [98] [99]

    Smith became the board chairman of Carnegie Hall in 2016, the first African-American to hold that position; he had been a member of the board since 2013.[100] Since 2018, Smith has served as a board member of the Louis Armstrong House Museum.

    In April 2020, Governor Greg Abbott named Smith to the Strike Force to Open Texas – a group "tasked with finding safe and effective ways to slowly reopen the state" amid the COVID-19 pandemic.[101]

    In October 2022, media outlets including TMZ,[102] Revolt TV,[103] Variety, and Vibe Magazine[104] 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. Mayweather said: “As someone who owns his own brand, I can’t 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.”[105]

    In 2024, Smith was interviewed by Tony Robbins for his New York Times #1 Bestseller, The Holy Grail of Investing. [106]

    Honors and awards

    In 2010, Smith received the Ripple of Hope Award from the Robert F. Kennedy Center for Justice and Human Rights.[107]

    In 2014, he received an honorary doctorate from Huston-Tillotson University.[108]

    In 2016, Cornell University named the Robert Frederick Smith School of Chemical and Biomolecular Engineering after him, following a donation.[109] [110] Smith received the 2016 Congressional Black Caucus Foundation's Chairman's Award.[111] [112] [113]

    In 2017, Smith was awarded an honorary doctorate from the University of Denver.[114] [115] That year, Smith was also named by Forbes as one of the 100 greatest living business minds.[116] That year Smith also received Ebony’s John H. Johnson Award.[117] Also in 2017, Smith was named in The Chronicle of Philanthropy's "Philanthropy 50".[118]

    In 2018, he received the International Medical Corps Humanitarian of the Year Award, and the Candle in Business and Philanthropy Award from Morehouse College,[119] [120] [121]

    He received an honorary doctorate at Morehouse College in 2019.[122] [60] [61] [62] He was inducted into the Texas Business Hall of Fame as a Class of 2019 Legend.[123] In October 2019, Smith received the Carnegie Medal of Philanthropy, which is given to individuals who have donated private wealth to the public.[124] He also received the 2019 United Negro College Fund President’s Award.[111]

    Smith was included in the Time 100 in 2020, Times list of the 100 most influential people in the world.[125] In 2020, he was also recognized by Cornell University with its Distinguished Alumni Award[59] and was awarded the Robert F. Kennedy Justice Prize by the Lawyers’ Committee.[126] Smith was recognized that same year for “Most Intriguing Idea” by Forbes’ Diversity and Inclusion Awards for his advocacy for The 2% Solution.[127]

    In November 2022, Smith was honored with the “Philanthropy Icon” award at The Grio Awards ceremony.[128] [129] Also in 2022, Smith was recognized by Americans for the Arts with the Philanthropy in the Arts award.[130]

    In May 2023, Smith was awarded the National Equal Justice Award by the Legal Defense and Educational Fund.[131] In August 2023, Smith was recognized by the Toyota HBCU New York Classic and received the HBCU Impact Award.[132] In October 2023, Smith was honored with the George H.W. Bush Points of Light Award by Points of Light.[133] Also in 2023, Smith and his wife were awarded the Founders Award from Foster Love.[134]

    He received the Award of Excellence from the National Association of Investment Companies.[11] He was awarded an honorary doctorate of International Affairs from American University's School of International Service.[135] He has been a trustee at Columbia Business School.[11]

    Personal life

    In 1988, Smith married his first wife, fellow Cornell alum Suzanne McFayden. They divorced in 2014. Smith married Hope Dworaczyk, the founder and CEO of skincare company MUTHA, a former Playboy playmate, healthy living advocate, and fashion editor, on July 25, 2015, after she gave birth to their first child in December 2014.[136] [137] [138] Smith has three children with his first wife.[139] He also has two sons and two daughters with his wife Hope.[140] Smith owns homes in Austin, Texas, Malibu, California, New York City, Denver, and Florida.[141] [142] [143] [144]

    Smith partnered with Matthew Burkett to purchase the historic Lincoln Hills, Colorado property in Gilpin County in 2007 and convert it into an exclusive invitation-only fly fishing club.[3] [145] Lincoln Hills was founded in 1922 as a destination summer resort for Black families.[3] [146] He now uses it to host musicians and underprivileged schoolchildren.[7]

    In a 2018 cover story, Forbes said that Smith the wealthiest African-American, passing Oprah Winfrey.[116] As of 2021, Smith was one of 15 Black billionaires in the world.[6] In November 2023, Forbes said his net worth was $9.2 billion, and that he was the 78th-richest person in the United States, and the 235th-richest person in the world.[147]

    External links

    Notes and References

    1. Web site: Louch . Will . Robert Smith Scours Globe for $20 Billion Comeback After Tax Case . Bloomberg. 20 Jan 2023 . 12 Sep 2023.
    2. Web site: Salfiti . Zinya . Billionaire Robert Smith's firm sells software maker for $4.6 billion, doubling its initial investment . Markets Insider . 27 Jun 2023 . 12 Sep 2023.
    3. https://www.thehistorymakers.org/sites/default/files/A2015_002_EAD.pdf "Oral History with Robert F. Smith,"
    4. https://www.google.com/books/edition/How_to_Lead/F_j1DwAAQBAJ?hl=en&gbpv=1&dq=%22robert+f.+smith%22+%22denver%22&pg=PA109&printsec=frontcover How to Lead; Wisdom from the World's Greatest CEOs, Founders, and Game Changers
    5. Book: D. Castle, Michael . July 14, 2016 . Black In America This Century Hurts . Lulu. 978-1-365-22265-8 .
    6. Web site: Behind the Billionaire. R. L. Witter. The Positive Community Magazine. May 11, 2021 .
    7. https://goodblacknews.org/2016/06/02/business-titan-robert-f-smith-named-carnegie-halls-1st-african-american-chairman/ "Business Titan Robert F. Smith Named Carnegie Hall’s 1st African-American Chairman"
    8. News: Cooper. Michael. Gelles. David. 2016-06-02. At Carnegie Hall, a New Leader With a Son Named Hendrix. en-US. The New York Times. 2020-06-17. 0362-4331.
    9. Web site: Heritage Hall Inductees; 2013 Inductees. East Angel Friends & Alumni Foundation. en-US. 2020-02-13.
    10. Web site: Billionaire Denver native donated $20 million to new African-American museum (video). 2020-06-17. Mark Harden. September 30, 2016. The Business Journals.
    11. Web site: Robert F. Smith's Biography. The HistoryMakers.
    12. Web site: Reeves . Benjamin . Private Equity's Philosopher; Robert F. Smith '94, founder and CEO of Vista Equity Partners, finds value in the people and places that are most often ignored.. Columbia Business School. April 8, 2015 . October 9, 2015.
    13. News: A Private Equity Titan With a Narrow Focus and Broad Aims . David Gelles . April 10, 2014 . . October 9, 2015.
    14. Web site: Mehta. Alek. 2020-03-01. Cornell Engineering To Recognize Robert F. Smith '85 With 2020 Distinguished Alumni Award. 2020-06-17. The Cornell Daily Sun. en-US.
    15. News: Najja Parker. May 20, 2019. 5 things to know about Robert F. Smith, Morehouse donor to pay off Class of 2019's student loans. 2020-06-17. The Atlanta Journal-Constitution. en.
    16. Web site: Who is Robert F. Smith?. May 20, 2019. New York Amsterdam News.
    17. Web site: Robert F. Smith Brings Success Back. April 28, 2017. Alpha Phi Alpha.
    18. Web site: Billionaire Alumnus Robert F. Smith '85 To Pay Off Morehouse Graduates' Student Loans - The Cornell Daily Sun. May 20, 2019. cornellsun.com.
    19. Web site: Marotti. Ally. Who is Robert F. Smith? Before he was wiping out Morehouse College student debt, he was patenting coffee brewing at Kraft.. 2020-06-17. Chicago Tribune. May 20, 2019 .
    20. News: Smith '85 to receive engineering college alumni honor. Syl Kacapyr . February 20, 2020 . Cornell Chronicle. en . 2020-06-06.
    21. Web site: Katie . Warren . Taylor Nicole . Rogers. Meet Robert F. Smith, the billionaire who's paying off student loans, owns a home in Malibu, and married a former Playboy model in a lavish Italian ceremony. October 15, 2020. 2020-06-17. Business Insider.
    22. News: Gelles. David. 2019-05-19. Who Is Robert F. Smith, the Man Paying Off Morehouse Graduates' Loans?. en-US. The New York Times. 2020-06-17. 0362-4331.
    23. Web site: Source: Robert F. Smith not planning to bid on Broncos. January 31, 2022. KUSA.com.
    24. Web site: Robinson . Deven . Influential Black Entrepreneurs - Robert Smith . Black Enterprise . January 7, 2021 . 30 January 2021.
    25. News: Vista Equity: The Biggest Software Group You've Never Heard Of. Michael J. Miller. October 24, 2018. PCMAG. November 18, 2018. en.
    26. News: Robert F. Smith - Vista Equity Partners; Founder, Chairman and CEO. Vista Equity Partners. March 1, 2019. en-US.
    27. News: Vista Equity Partners to pay $1.9 billion in private-equity deal for Apptio. Tom Krazit . November 12, 2018. GeekWire. November 18, 2018. en-US.
    28. Web site: Vista Equity Partners to invest $1.5B in India's Reliance Jio Platforms. Manish Singh. 2020-08-24. TechCrunch. May 8, 2020 . en-US.
    29. Web site: 2014-05-15. Danny Ecker. Stats LLC sold to private-equity firm. 2020-08-24. Crain's Chicago Business. en.
    30. Web site: Vista Equity Partners Is Acquiring Ping Identity. Robert Hackett. June 1, 2016. 2020-08-24. Fortune. en.
    31. Web site: Harmeet Kaur. What to know about Robert F. Smith, the man paying off Morehouse grads' student loans. 2020-08-24. CNN. May 19, 2019 .
    32. Web site: Vista's Smith named PEI's 2016 'Game Changer'. Mitchenall. Toby. 2017-03-01. Private Equity International. en-GB. 2019-05-19.
    33. Web site: 100 Greatest Living Business Minds. September 19, 2017. https://web.archive.org/web/20170920033435/https://www.forbes.com/100-greatest-business-minds/. dead. September 20, 2017. 2019-05-19. Forbes. en.
    34. Web site: About. 2020-06-17. Vanity Fair’s New Establishment Summit.
    35. Web site: 17 March 2020. Cover Story: Robert F. Smith, Chairman & CEO of Vista Equity Partners. Savoy. dead. https://web.archive.org/web/20200420063231/http://savoynetwork.com/cover-story-robert-f-smith-chairman-ceo-of-vista-equity-partners-cover-story/. 20 April 2020.
    36. Web site: Report: Denver Native Billionaire Emerges as Bidder to Buy Broncos. Keith. Cummings. January 23, 2022. Sports Illustrated Mile High Huddle: Denver Broncos News, Analysis and More.
    37. Web site: Vista Equity Partners - Austin Trail of Lights . 2024-04-19 . austintrailoflights.org . en.
    38. Web site: https://www.carnegiehall.org/About/Leadership-and-Staff/Board-of-Trustees/Robert-F-Smith . 2024-04-19 . www.carnegiehall.org.
    39. Web site: 2024-04-19 . Robert F. Smith's Support for the Menuhin Competition . 2024-04-19 . Menuhin Competition.
    40. Web site: Kazeem. Yomi. A "quiet" African American billionaire is offering Nigeria's rescued Chibok girls a new lease of life. 2020-08-24. Quartz Africa. December 28, 2016 . en.
    41. News: Mark. Monica. 2015-11-17. US tycoon helps Chibok pupils back into the classroom; Inaction and fading global interest in plight of those who escaped Boko Haram spurred Robert F Smith to support local efforts with offer to pay for schooling. en-GB. The Guardian. 2020-08-24. 0261-3077.
    42. Web site: Robert F. Smith Foster Love . 2024-04-19 . academics.fosterlove.com . en.
    43. Web site: 2016-03-07 . UNCF and Fund II Foundation Launch a $48 Million Scholarship Program to Support African . 2024-04-19 . UNCF . en.
    44. Web site: Rogers . Taylor Nicole . Robert F. Smith, the billionaire who promised to pay off student loans for an entire college class, said his $34 million gift was inspired by a small act of philanthropy he saw his mom make . 2024-04-19 . Business Insider . en-US.
    45. Web site: 2015-08-10 . Robert F. Smith . 2024-04-19 . The History Makers.
    46. News: Alexander . Keith L. . 2023-04-12 . 'Who is this Robert Smith?': A quiet billionaire makes some noise with $20 million gift to the African American museum . 2024-04-19 . Washington Post . en-US . 0190-8286.
    47. Web site: Robert Frederick Smith Prize . 2024-04-19 . Sphinx Organization . en-US.
    48. Web site: 2016-09-15 . Fund II Foundation Awards $27 Million to Susan G. Komen . 2024-04-19 . Philanthropy News Digest.
    49. Web site: May 30, 2017. 7 More U.S. Philanthropists Sign Giving Pledge. Maria Di Mento. The Chronicle of Philanthropy.
    50. Web site: Columbia Business School Announces Major Gift from Robert F. Smith to Create Scholarship Fund. January 24, 2022. www.businesswire.com.
    51. Web site: Robert F. Smith . 2024-04-19 . Sphinx Organization . en-US.
    52. Warner/Chappell Music CEO Jon Platt Lauded at City of Hope Gala: 'He's the Obama of the Music Industry'. Gail Mitchell. Billboard. November 18, 2018.
    53. Web site: 2018-01-19 . Prostate Cancer Foundation Receives $2.5 Million for Research . 2024-04-19 . Philanthropy News Digest.
    54. News: Billionaire, Power 100 Honoree, Robert F. Smith Donates to Prostate Cancer. January 16, 2018. EBONY. November 18, 2018. en-US.
    55. News: Riverbank's Cultural Center Renamed After $1 Million Gift. The New York Times . October 24, 2018 . November 18, 2018. en. Pogrebin . Robin .
    56. Web site: 2018-11-28 . Louis Armstrong House Museum Digitizes Life of an Icon . 2024-04-19 . downbeat.com . en.
    57. News: Louis Armstrong's Life in Letters, Music and Art. The New York Times . November 16, 2018 . en. November 18, 2018. Russonello . Giovanni . Bajar . Nathan .
    58. Web site: Simas. Kayla. 2018-10-08. Louis Armstrong's unseen artifacts almost ready for public view. 2020-08-24. amNewYork. en-US.
    59. Daniel J. Middleton (2021). 21st Century Black Changemakers; Biography Coloring
    60. News: Billionaire Robert F. Smith pledges to pay off Morehouse College Class of 2019′s student loans. May 19, 2019. The Washington Post. May 20, 2019.
    61. News: Graduation speaker pledges to pay class of 2019 student debt. Whack. Errin Haines. 2019-05-19. Associated Press. 2019-05-19.
    62. News: Burch . Audra D. S. . Gelles . David . Morehouse Graduates' Student Loans to Be Paid Off by Billionaire . . 20 May 2019 . 19 May 2019.
    63. Web site: De La Garza . Alejandro . May 19, 2019 . Who Is Robert F. Smith? Learn More About the Billionaire Whose Generosity Shocked a Graduating Class . Time Magazine.
    64. News: Morehouse to use $1.5 million gift on scholarships and a new park. Stirgus. Eric. January 18, 2019. The Atlanta Journal-Constitution. 2019-05-19.
    65. Web site: Moody . Eric . 2022-10-23 . Billionaire Robert F. Smith Shares Importance of Internships Across 85 Portfolio Companies Growth, Long-Term Success . 2024-04-19 . Black Enterprise . en-US.
    66. Web site: Robert F. Smith . 2024-04-19 . InternXL . en-US.
    67. Web site: 2019-02-21 . Martin Luther King Jr.'s homes to be preserved by National Park Service - CBS News . 2024-04-19 . www.cbsnews.com . en-US.
    68. Web site: Reilly . Katie . June 23, 2020 . Billionaire Robert F. Smith Launches New Initiative to Ease Student Debt at Historically Black Colleges . Time Magazine.
    69. Web site: Nwanji . Ngozi . Robert F. Smith, Goalsetter Launch Initiative To Help A Million Black & LatinX Kids Become Shareholders . 2024-04-19 . AfroTech . en.
    70. Web site: 2024-04-16 . HBCU Grads and Others to Benefit from New Columbia Business School Scholarship . 2024-04-19 . Columbia University Neighbors . en.
    71. Web site: Billionaire Robert Smith Launches $1.8M Program to Provide Microgrants to HBCU Students In Need. Nicole Duncan-Smith. 2022-07-28 . Yahoo . February 24, 2022 . en-US.
    72. Web site: Robert F. Smith Launching $1.8M Grant Program For HBCU Students; Robert F. Smith, the billionaire businessman that famously paid off the student loan debt for Morehouse students in 2020, is back at it again for other HBCU students in need. . 2022-07-28 . Essence. Jasmine Browsley . February 14, 2022 . en-US.
    73. Web site: Harris . Raquel "Rocky" . For(bes) The Culture Newsletter: April Showers Bring Forth Impact And Influence In The White House, In Media And In Entrepreneurship . April 12, 2022 . 2022-07-28 . Forbes . en.
    74. Web site: Yates . Shanique . 2022-04-11 . Robert F. Smith Pledges $3.8M To Build Mobile Unit That Helps Black Men Be Proactive About Prostate Health . 2022-07-28 . AfroTech . en.
    75. 17 May 2022. Cornell receives $15 million for minority engineering student aid. Philanthropy News Digest. 17 May 2022.
    76. Web site: 2023-06-01 . Grameen America Expands Program to Invest in Black Women and Other Minority Women Entrepreneurs with New Branch in Atlanta . 2024-04-19 . Grameen America . en-US.
    77. Web site: Forristal . Lauren . 2023-04-18 . Founded by actors, Mansa brings its free streaming service for global Black culture out of stealth . 2024-04-19 . TechCrunch . en-US.
    78. Web site: 2023-09-13 . Founder Robert F. Smith - Anglers of Honor . 2024-04-19 . www.anglersofhonor.org . en-US.
    79. News: Alexander . Keith L. . 2023-04-12 . 'Who is this Robert Smith?': A quiet billionaire makes some noise with $20 million gift to the African American museum . 2024-04-19 . Washington Post . en-US . 0190-8286.
    80. Web site: Black and Jewish Leaders Gather at Carnegie Hall to Take a Stand Against Antisemitism and Racism. Yahoo. December 20, 2022. December 28, 2022. December 25, 2022. https://web.archive.org/web/20221225013742/https://www.yahoo.com/now/black-jewish-leaders-gather-carnegie-032200862.html. dead.
    81. Web site: Mayor Eric Adams, Rev. Al Sharpton, others gather for joint Kwanzaa, Hanukkah celebration. December 21, 2022. New York Amsterdam News.
    82. Web site: Mayor Eric Adams, Rev. Al Sharpton, Robert F. Smith, Robert F. Smith, Rev. Conrad Tillard, Rabbi Shmuley Boteach and Elisha Wiesel join together to host '15 Days of Light,' celebrating Hanukkah and Kwanzaa; Interfaith leaders gathered at Carnegie Hall to take a stand against racism and antisemitism. . JNS.
    83. News: Voreacos. David. Weinberg. Neil. Jonathan Browning. August 21, 2020. Billionaire Robert Smith Fighting U.S. Criminal Tax Inquiry. Bloomberg. August 21, 2020.
    84. Web site: Weinberg. Neil. 3 February 2021. How Billionaire Robert Smith Avoided Indictment in a Multimillion-Dollar Tax Case. 2022-01-31. Bloomberg.
    85. News: Goldstein. Matthew. 2021-03-12. A Buyout Fund C.E.O. Got in Tax Evasion Trouble. Here's Why Investors Shrugged.. en-US. The New York Times. 2022-01-31. 0362-4331.
    86. News: Maremont. Miriam Gottfried and Mark. 2021-03-03. The Billionaire Behind the Biggest U.S. Tax Fraud Case Ever Filed; Prosecutors accused Robert Brockman, a litigious, sometimes penny-pinching software entrepreneur, of hiding $2 billion from the Internal Revenue Service. en-US. The Wall Street Journal. 2022-01-31. 0099-9660.
    87. Web site: Robert Brockman, billionaire charged in tax evasion case, dies at 81. Ken Dilanian. August 7, 2022. Yahoo News.
    88. News: Voreacos. David. Weinberg. Neil. 15 October 2020. Houston Tech Mogul Indicted for 'Largest-Ever Tax Charge'; Robert Brockman is accused of hiding $2 billion offshore. Bloomberg. 17 October 2020.
    89. Web site: Primack. Dan. Billionaire philanthropist Robert Smith's tax fraud roils Vista Equity. 2020-10-17. Axios. October 16, 2020 . en.
    90. Web site: Rogers. Taylor Nicole. Read the full letter private equity titan Robert F. Smith sent to investors about his $139 million tax evasion settlement. October 16, 2020. 2020-10-17. Business Insider.
    91. News: Saunders. Laura. 23 October 2020. The IRS Reels in a Whale of an Offshore Tax Cheat—and Goes for Another. Wall Street Journal .
    92. https://www.icij.org/investigations/pandora-papers/global-investigation-tax-havens-offshore/ "Offshore havens and hidden riches of world leaders and billionaires exposed in unprecedented leak,"
    93. News: Whoriskey. Peter. Torbati. Yeganeh. Alexander. Keith L.. A dodgy deal helped make him a billionaire. It worked, until now.. November 13, 2020. en-US. The Washington Post. 2020-11-09. 0190-8286.
    94. Web site: Robert Smith. October 9, 2015. Robert F. Kennedy Center for Justice & Human Rights.
    95. Web site: ECC Active Members 2015. October 9, 2015. Cornell Engineering.
    96. Web site: Board & Trustees. October 9, 2015. Boys & Girls Clubs of San Francisco.
    97. Web site: Giacomazzo . Bernadette . Meet Robert F. Smith, A Philanthropist, HBCU Advocate And The Wealthiest Black Man In America . 2024-04-19 . AfroTech . en.
    98. Web site: Adeniji . Ade . 2018-08-20 . Now the Richest Black American, He's Also One of America's Biggest Philanthropists . 2024-04-19 . Inside Philanthropy . en-US.
    99. Web site: 2020-02-10 . Robert F. Smith . 2024-04-19 . Inside Philanthropy . en-US.
    100. News: Carnegie Hall Names New Board Chairman: Private-Equity Financier Robert F. Smith; Carnegie's first African-American chairman, Mr. Smith replaces Ronald O. Perelman, who stepped down in October. Smith. Jennifer. June 2, 2016. The Wall Street Journal. June 10, 2016.
    101. Web site: These are the experts, leaders working with Gov. Abbott's strike force to reopen Texas. khou.com. April 17, 2020 . en-US. 2020-04-21.
    102. Web site: October 6, 2022 . Exclusive FLOYD MAYWEATHER MAKING 'LAST DANCE' STYLE DOCUSERIES ... 'The GOAT'. TMZ.
    103. Web site: Cho . Regina . October 7, 2022 . Floyd Mayweather's "The GOAT" docuseries is officially in the works . Revolt TV.
    104. Web site: Corrine . Amber . October 7, 2022 . Floyd Mayweather Will Tell His Story His Way With 'The GOAT' Docuseries . VIBE Magazine.
    105. Web site: Jackson . Angelique . October 6, 2022 . Floyd Mayweather Inks Life-Rights Deal With Hidden Empire Films, Announces 'The GOAT' Docuseries About Life and Career . Variety.
    106. Web site: The Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies for Financial Freedom . 2024-03-05 . USA TODAY . en-US.
    107. Web site: How Robert F. Smith, the Wealthiest Black American, Is Making Change. June 17, 2020. Town & Country.
    108. Web site: 2019-05-20. Alyssa Goard. Austin billionaire who paid off students' debt has history of giving back. 2020-08-24. KXAN Austin. en-US.
    109. Web site: Cornell names Robert Frederick Smith School of Chemical and Biomolecular Engineering in recognition of the leadership of philanthropist; Support for underrepresented African-American and women students at New York City and Ithaca campuses. January 29, 2016 . Cornell Chronicle.
    110. Web site: Casler. Andrew. Cornell names engineering school after alumnus. 2020-08-24. The Ithaca Journal. February 2, 2016. en-US.
    111. Web site: Robert F. Smith . Tuskegee University.
    112. Web site: President Obama to Deliver Final Keynote at 46th ALC Phoenix Awards Dinner - Congressional Black Caucus Foundation. August 24, 2016.
    113. Web site: 2018-05-02. Harlem Columbia Grad Billionaire Man Robert F. Smith (video). 2020-08-24. Harlem World Magazine. en-US.
    114. Web site: 2019-05-19. Billionaire Denverite Robert F. Smith pledges to pay off student loan debt for Morehouse College class of 2019. 2020-08-24. The Denver Post. Sanja Hindi. en-US.
    115. Web site: 2019-08-09. NEXUS Summer Program Students Dream Big in Teen Entrepreneurship Challenge. 2020-08-24. University of Denver. en.
    116. Web site: Harlem Columbia Grad Billionaire Man Robert F. Smith (video). Harlem World. Magazine. May 2, 2018.
    117. Web site: EBONY Power 100 2017 Honoree - Robert F. Smith. Ebony. EBONY Power 100 2017. en-US. November 18, 2018.
    118. Web site: The 2017 Philanthropy 50. The Chronicle of Philanthropy.
    119. Web site: Morehouse gets two $1M gifts at anniversary gala. bizjournals.com. November 18, 2018.
    120. Web site: Robert F. Smith.
    121. News: AAC 2018 . November 6, 2018. International Medical Corps. November 18, 2018. en-US.
    122. News: Just in: Morehouse commencement speaker to pay off Class of 2019's student loans. Emerson. Bo. May 19, 2019. The Atlanta Journal-Constitution. 2019-05-19.
    123. Web site: 16 May 2019. Kendra Scott's and Robert Smith Invited to be Inducted in 2019 - Texas Business Hall of Fame. 17 October 2019. TBHF.
    124. Web site: Announcing the 2019 Carnegie Medal of Philanthropy Recipients. 17 October 2019. Carnegie Medal of Philanthropy. en-US.
    125. Web site: Wai . Jonathan . Makel . Matthew C. . Why graduates of elite universities dominate the Time 100 – and what it means for the rest of us . . December 7, 2021 . en . November 2, 2020.
    126. Web site: Past Award Honorees . 2024-07-24 . Lawyers' Committee for Civil Rights Under Law . en-US.
    127. Web site: Umoh . Ruth . Forbes Diversity & Inclusion Awards 2020: The 2% Solution To Racial Inequality . 2024-07-24 . Forbes . en.
    128. Web site: 2022-11-10 . TheGrio Awards, The Philanthropy Icon: Robert F. Smith . 2024-07-24 . Yahoo News . en-US.
    129. Web site: Tinoco . Armando . 2022-11-21 . CBS Sets Date For The Grio Awards Special . 2024-07-24 . Deadline . en-US.
    130. Web site: October 3, 2022 . Americans for the Arts Announces the 2022 National Arts Awards . July 24, 2024 . Americans for the Arts.
    131. Web site: 2023-05-08 . Legal Defense Fund Broke Fundraising Record At Annual Dinner: See The Stars Supporting The Cause . 2024-07-24 . Essence . en-US.
    132. Web site: Newswire . HBCU Legends Sports . 2023-08-25 . 2023 HBCU Impact Award: CIAA Commissioner, Robert Smith Honored . 2024-07-24 . HBCU Legends . en.
    133. Web site: Benson . Darren . 2023-10-27 . Aggie Mother And Daughter Honored with George H.W. Bush Points Of Light Award . 2024-07-24 . Texas A&M Today . en-US.
    134. Web site: Robert F. Smith Foster Love . 2024-07-24 . academics.fosterlove.com . en.
    135. Web site: Alex. Kelly. AU Announces 2015 Commencement Speakers American University Washington DC. 2020-08-24. American University. March 24, 2015 . en.
    136. News: Marquina, Sierra . Brown, Brody. 2015-09-28. Hope Dworaczyk Smith Pregnant With Second Child!. en-US. Us Weekly. 2018-08-07.
    137. News: Alexander, Keith L.. 2016-09-24. 'Who is this Robert Smith?': A quiet billionaire makes some noise with $20 million gift to the African American museum. 2018-08-07. Washington Post. en.
    138. Web site: Salonga. Bianca. Inspiring Female Founders In The Beauty Industry. 2020-08-24. Forbes. en.
    139. Web site: John, Caroline. 2019-05-22. Suzanne McFayden Wiki: Facts about Billionaire Robert F. Smith's Ex-Wife. Earn The Necklace. en. 2019-05-24.
    140. Web site: Barnes. Brooks. 2020-06-17. How Robert F. Smith, the Wealthiest Black American, Is Making Change. 2020-12-27. Town & Country. en-US.
    141. Web site: 2016-03-01. The World's Billionaires (2016 ranking): #688 Robert Smith. Forbes. 2017-01-05.
    142. Web site: Barnes . Brooks . How Robert F. Smith, the Wealthiest Black American, Is Making Change . townandcountrymag.com . June 17, 2020 . 5 February 2021.
    143. Web site: Yakketyyak, Yolanda. 2016-05-12. Real Housewives of Malibu Part 2: Yolanda Hadid Foster sells to Robert & Hope Smith for nearly $20 million. Yolanda's Little Black Book. 2018-06-25. https://web.archive.org/web/20180625185136/http://www.yolandaslittleblackbook.com/blog-1/2016/05/12/2016511real-housewives-of-malibu-yolanda-hadid-foster-sells-to-robert-smith-hope-dworaczyk-house/.
    144. Web site: Toma. Glenda. Billionaire Robert Smith Is Buyer Of Record-Breaking $59M New York Penthouse. 2020-08-24. Forbes. en.
    145. Web site: McCormick-Cavanagh. Conor. 2022-05-22. The Last Resort: Lincoln Hills Has a Colorful Past and an Invitation-Only Future. 19 July 2023. Westword. en-US.
    146. Web site: Nwanji . Ngozi . Robert F. Smith Announces Vista Equity Partners Has Reached Over $100B In Assets Under Management . Yahoo Finance . 9 Aug 2023 . 12 Sep 2023.
    147. Web site: Robert F. Smith. Forbes.

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