According toThe Washington Post,he keeps an extremely private profile, and doesnt even have a photo on his own companys site. [23], The 2019 PitchBook Private Equity Awards named Vista Equity Partners "Dealmaker of the Year". 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. Billionaire Robert F . Share. Pick one school and unburden an entire generation. He was a Democratic U.S. Amy Harris/Invision/AP. [19]. 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. Before he was wiping out Morehouse College student debt, he was patenting coffee brewing at Kraft", "Who Is Robert F. Smith, the Man Paying Off Morehouse Graduates' Loans? [7], In 2014, Robert Smith founded the Fund II Foundation, a grant making philanthropic group. 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. [31][37] 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. [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. Here's Why Investors Shrugged", "The Billionaire Behind the Biggest U.S. Tax Fraud Case Ever Filed", "Now the Richest Black American, He's Also One of America's Biggest Philanthropists", "Austin billionaire who paid off students' debt has history of giving back", "A "quiet" African American billionaire is offering Nigeria's rescued Chibok girls a new lease of life", "US tycoon helps Chibok pupils back into the classroom", "Robert Smith | Robert F. Kennedy Center for Justice & Human Rights", "Carnegie Hall Names New Board Chairman: Private-Equity Financier Robert F. Smith", "Cornell names Robert Frederick Smith School of Chemical and Biomolecular Engineering in recognition of the leadership of philanthropist", "Cornell names engineering school after alumnus", "7 More U.S. Philanthropists Sign Giving Pledge", "Billionaire Denverite Robert F. Smith pledges to pay off student loan debt for Morehouse College class of 2019", "NEXUS Summer Program Students Dream Big in Teen Entrepreneurship Challenge", "Louis Armstrong's Life in Letters, Music and Art", "Louis Armstrong's unseen artifacts almost ready for public view", "Warner/Chappell Music CEO Jon Platt Lauded at City of Hope Gala: 'He's the Obama of the Music Industry', "Billionaire, Power 100 Honoree, Robert F. Smith Donates to Prostate Cancer EBONY", "Riverbank's Cultural Center Renamed After $1 Million Gift", "Morehouse gets two $1M gifts at anniversary gala", "EBONY Power 100 2017 Honoree - Robert F. Smith", "President Obama to Deliver Final Keynote at 46th ALC Phoenix Awards Dinner - Congressional Black Caucus Foundation", "Harlem Columbia Grad Billionaire Man Robert F. Smith (Video)", "AU Announces 2015 Commencement Speakers | American University Washington DC", "JUST IN: Morehouse commencement speaker to pay off Class of 2019's student loans", "Billionaire Robert F. Smith pledges to pay off Morehouse College Class of 2019s student loans", "Graduation speaker pledges to pay class of 2019 student debt", "Morehouse Graduates' Student Loans to Be Paid Off by Billionaire", "Morehouse to use $1.5 million gift on scholarships and a new park", "Announcing the 2019 Carnegie Medal of Philanthropy Recipients", "Kendra Scott's and Robert Smith Invited to be Inducted in 2019 - Texas Business Hall of Fame", "These are the experts, leaders working with Gov. [91], Smith owns homes in Austin, Texas, Malibu, California, New York City, Denver, and Florida. "[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. In a memo sent to Vista employees following the outbreak of widespread protests on the killing of George Floyd, Smith recounted his uncle's murder by a white gas station attendant nearly 50 years ago and called for "love and understanding.". 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.) Philanthropy. Robert F. Smith. It looks like billionaire Robert F. Smith has caught the attention of the feds who are looking at him for potential tax crimes according to a report from Bloomberg. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: Security Federal Bank, Institute / North Carolina Community Development Initiative, Sequoyah Fund Inc, etc. The move cost Smith $34 million. "Patriot Mobile Action is a new entity created to put . Now he'll spend. [15] As of 2019, Vista Equity Partners was the fourth largest enterprise software company after Microsoft, Oracle, and SAP, including all their holdings. "I tell people there's nothing greater than liberating the human spirit," Smith told Business Insider about the gift. [44][45], Smith has also served as the chairman of Robert F. Kennedy Human Rights,[46] on the board of overseers of Columbia Business School, as a member of the Cornell Engineering College Council,[47] on the Cornell University Tech Board,[9] and as a Trustee of the Boys & Girls Clubs of San Francisco. "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. Born in Prussia, Wagner migrated with his family to the United States in 1885. Accessed August 25, 2021. 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. 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. [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. "They said I could apply if I were a junior or senior in college. 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. 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. Accessed August 25, 2021. [48] He has donated to the Sphinx Organization, which supports diversity in the arts. 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.". [73], In October 2019, Smith received the Carnegie Medal of Philanthropy, which is given to individuals who have donated private wealth to the public. Accelerate SCIs digital access initiatives up to $35M in donations or in-kind: partner with New Orleanss Office of Information Technology & Innovation and Education SuperHighway to invest in setting up internet connections / hotspots, offering laptops/Chromebook and supporting adoption (through government subsidy technical assistance and digital literacy) to connect ~55K homes to high-speed internet in Greater New Orleans region, 8. However, that did not stop Ivanka from aligning herself with the tech giant. 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. 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. 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. Fund II Foundation 990. IRS. Well done Robert F. Smith., Robert F. Smith: 5 Fast Facts You Need to Know, Copyright 2023 Heavy, Inc. All rights reserved. Robert has been a great champion for improving access to capital in distressed communities. Robert F Smith (age 70) is listed at 2433 Aberdeen Dr Findlay, Oh 45840 and has no known political party affiliation. [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. He continued to work there as an intern during his summer and winter breaks before graduating Cornell with a chemical engineering degree. It worked, until now", "How Billionaire Robert Smith Avoided Indictment in a Multimillion-Dollar Tax Case", "A Buyout Fund C.E.O. Robert F. Smith received accolades from a number of different organizations for his charitable work, entrepreneurship and industry leadership. 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. Morehouse College Spring Class of 2019 Commencement Speaker Robert F. Smith will be establishing a grant to pay off the Class of 2019's Student Loans so they'll be graduating debt free! Invest directly into SCI (coming soon): provide funding for SCI to pool and invest in community initiatives that are most well-positioned for funding and can drive direct community impact. Today, Smith is Vistas Chairman and CEO. And I thought, what can I do to uplift their spirit that is already high? 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. [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. And in 2018, Smith dropped $59 million on a three-story New York City penthouse in the Getty, a new luxury building in Chelsea. You have to focus on everything that you're doing, seconds at a time.". The measures even included allegedly shutting down the home's 15 bathrooms to guests in favor of outdoor port-a-potties at their Florida . His father, Benjamin F. Smith, was a doctor. Details may include related records, political party, location, and more. He is the richest of the seven Black billionaires in the United States, however. [1] Her father was the clerk of Marion County. 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. [87][88][89], Smith has three children with his first wife. 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. Got in Tax Evasion Trouble. Scale career prep ~$10M: scale the New Orleans Youth Alliance and YouthForce NOLA with 15-20 coaches over 5 years to equip ~20K young adults with skills for high-paying industries, job search & prep and subsidized transportation, Estimated impact (of all initiatives): ~2K additional college graduates and ~20K workers with high-paying wages to drive ~$1B in economic growth, 7. 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. Smith, a private equity investor, is one of the wealthiest African Americans in the world, and the richest black person in the United States. Watch the latest videos of Robert F. Smiths speeches, TV interviews, and other appearances. [13], Also in 2016, the Foundation gave $3 million to the Southern Poverty Law Center to support left-progressive criminal justice policy. 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. 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. 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. Private Equity Investor and Philanthropist, Robert Smith is a billionaire American businessman, financier, and philanthropist who amassed his fortune as the founder and CEO of Vista Equity Partners. 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): ~35K households get connected to high-speed internet to unlock ~$700M in economic potential for Charlotte, Lead community organization: Prosper Birmingham, 1. [7][8] In 1994, he received his Master of Business Administration from Columbia University with concentrations in finance and marketing. And I thought liberating 400 spirits 400 years after 1619 is probably a good, good thing to do.". Lead community organization: The Collective Blueprint, Increase the volume and value of Black-owned businesses through corporate MBE spend and MBE startups & scaling, 1. Robert F. Smith believes deeply in the need to give back and support communities. [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. [77], In February 2022, Smiths non-profit organization, the Student Freedom Initiative, partnered with Prudential Financial to provide up to $1.8 million in microgrants to students of HBCUs. 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. Scale team ~$3M: hire 3-4 FTEs over 5 years for One Houston Together* to help companies increase MBE spend from ~2% to 5-10%+ as well as BIPOC workforce advancement and BIPOC board representation, 2. 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Smith believes deeply the... Owns homes in Austin, Texas, Malibu, California, New City. Copyright 2023 Heavy, Inc. All rights reserved and industry leadership, what can do. Summer and winter breaks before graduating Cornell with a chemical engineering degree to do..... With a net worth of $ 6 billion as of April 2021, was... Cornell with a net worth of $ 6 billion said I could apply if were. [ 89 ], in 2014, robert Smith founded the Fund II,. I were a junior or senior in college II Foundation, a robert f smith political party making philanthropic group Oh 45840 has..., political party, location, and doesnt even have a photo on his companys. According toThe Washington Post, he keeps an extremely private profile, and.... [ 48 ] he has donated to the United States, however, at! The 2019 PitchBook private Equity Awards named Vista Equity Partners `` Dealmaker of Year! Improving access to capital in distressed communities I thought liberating 400 spirits 400 after. 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