[2][41][42] Also in 2014, Smith received an honorary doctorate from Huston-Tillotson University. Everything You Need To Know: What Is an HBCU? * CDFIs/MDIs being considered (examples and not exhaustive): Security Federal Bank, Institute / North Carolina Community Development Initiative, Sequoyah Fund Inc,Self-Help Credit Union, BEFCOR, Aspire Community Capital,etc. May 28 They divorced in 2014. 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. [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. to 10K+ youths, 7. Fund II Foundation 990. IRS. [51][52] He was later recognized as a distinguished alumnus by the college. Smith is chairman and chief executive of Vista Equity Partners. 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. [26] According to Forbes, "Smith is the first African-American to sign the Giving Pledge, a commitment to contribute the majority of his wealth to philanthropic causes. [31][37], In early October 2021, Smith and Brockman were both among those listed in the Pandora Papers revelation, exposing the offshore sheltering of financial assets by hundreds of politicians, businesspeople, and celebrities. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: Community Unlimited, Hope Credit Union, River City Capital, United Housing Inc, etc. Provide loan guarantees $15M: create a fund* to provide 80% loan guarantees over 5 years to encourage lender participation and inject more capital into the community, 4. Jordan Hart. TheGrio is now on Apple TV, Amazon Fire, and Roku. Estimated impact (of all initiatives): ~$330M+ in additional loans per year to support ~30K+ MBEs, Lower financial burden for Black students, increase number of Black college graduates, increase Black workforce and executive representation and their access to high-paying jobs, 6. His bio from Black Enterprise reads in part. Smith's strategy as well as his work ethic have won him praise on Wall Street. Smith left Goldman Sachs, where he worked on tech M&A, in 2000 and launched his own private equity firm. 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. 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. The majority of African Americans live in just six communities in the U.S. Birmingham, AL; Houston, TX; New Orleans, LA; Atlanta, GA; Charlotte, NC and Memphis, TN. Robert is . 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. ", "Inspiring Female Founders In The Beauty Industry", "Suzanne McFayden Wiki: Facts about Billionaire Robert F. Smith's Ex-Wife", "How Robert F. Smith, the Wealthiest Black American, Is Making Change", "The World's Billionaires (2016 ranking): #688 Robert Smith", "Real Housewives of Malibu Part 2: Yolanda Hadid Foster sells to Robert & Hope Smith for nearly $20 million", "Billionaire Robert Smith Is Buyer Of Record-Breaking $59M New York Penthouse", https://en.wikipedia.org/w/index.php?title=Robert_F._Smith_(investor)&oldid=1130578664, Pages using infobox person with multiple spouses, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 30 December 2022, at 22:11. 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. 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. In the years since its founding, the firm has generated bumper returns for investors and gradually increased assets under management. One Future. initiative. "[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. 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 teams to conduct needs diagnostic, implement tech solution & provide technical assistance. Smith attended Cornell University as an undergraduate, then attended Columbias School of Business to get his MBA. Since then, he has reportedly amassed an additional $2.5 billion, and his net worth in March was believed to be $5 billion. At that point, Smith had been under a four-year criminal tax investigation dating back to 2014, theGrio reported. Robert F. Smith. [5][6] Smith earned a bachelor's degree in chemical engineering fromCornell University in 1985. is listed at 1395 South Rd East Greenwich, Ri 02818 and is affiliated with the Republican Party. Robert F. Smith is a philanthropist and entrepreneur committed to uplifting the human spirit, particularly in underrepresented communities. [23], The 2019 PitchBook Private Equity Awards named Vista Equity Partners "Dealmaker of the Year". 5. In 2017, Smith became the first African American to sign the Giving Pledge a commitment to donate a majority of his net worth during his lifetime to charitable causes. 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). [54] That year, Smith was awarded an honorary doctorate from the University of Denver. Smith was born in Portland, Oregon, and grew up in Burns, Oregon. [19]. Accessed August 25, 2021. [39][40], The reports state that Brockman's proposal was a "take-it-or-leave-it offer". * 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. He continued to work there as an intern during his summer and winter breaks before graduating Cornell with a chemical engineering degree. Powered by. 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. 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. [13], Also in 2016, the Foundation gave $3 million to the Southern Poverty Law Center to support left-progressive criminal justice policy. In 2016, Smith and his wife bought a $20 million Malibu mansion from "Real Housewives of Beverly Hills" star Yolanda Hadid. It worked, until now", "How Billionaire Robert Smith Avoided Indictment in a Multimillion-Dollar Tax Case", "A Buyout Fund C.E.O. He served as Chairman of the Philadelphia Democratic City Committee from 1983 to 1986 and as a member of the Pennsylvania State Senate for the 4th . [91], Smith owns homes in Austin, Texas, Malibu, California, New York City, Denver, and Florida. As of April 2021, Smith was the wealthiest Black American, with a net worth of $6 billion. Smith cooperated with the investigation and agreed to admit misconduct but will not be prosecuted, according to reports. 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. "Think about 400 young African American men who had just done the heavy lift. 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. 2,886/$314,048. from 1999 to present. He's the "antithesis of [Blackstone CEO Steve] Schwarzman," a tech-industry banker told Business Insider. Details may include related records, political party, location, and more. Now, Ive got the alumni over here, and this is a challenge to you, alumni: this is my class, 2019. [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. [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. He is a male registered to vote in Connecticut. 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. [2] Wes Cooley, the Republican who had succeeded Smith in the House, had been caught in several lies about his military service and Smith was persuaded to come out of retirement. [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. He worked as an engineer at Goodyear Tire and Rubber Company, Air Products and Chemicals, and Kraft General Foods. [73], In October 2019, Smith received the Carnegie Medal of Philanthropy, which is given to individuals who have donated private wealth to the public. Republican Party of Texas. 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! Earlier in 2020, Smith had initiated relationships with Trumps daughter Ivanka Trump, then-U.S. Treasury Secretary Steve Mnuchin, and Van Jones, a CNN host believed to have close ties to Ivanka Trumps husband Jared Kushner. Watch the latest videos of Robert F. Smiths speeches, TV interviews, and other appearances. To a Spreadsheet or Other File Type. 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. 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. 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. Updated May 20, 2019. 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. Fund technical assistance $25M: fund Prosper Birmingham, Magic City Match, and Birmingham Business Alliance to establish/expand business advisory programs, renovate and subsidize retail/office space for MBEs and scale coaches & support services (e.g., digital footprint, B2C platforms, accounting & bookkeeping, recruitment, etc.) [5], On February 8, 2016, Smith struck and killed a pedestrian while driving in Medford, Oregon. [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. No charges or citations were filed against him regarding the wreck. [43], In 2015, Smith sponsored the college education of all returned Boko Haram girls. Accessed August 25, 2021. https://t.co/DdOhjvxaWJ. Fund SFI program up to $10M: fund the Student Freedom Initiatives HELPS program to support ~1.5K+ students per year at HBCUs* with emergency expenses e.g., unexpected health costs, late rent payments, etc. Accessed August 25, 2021. 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.". He went on to study at Cornell and Columbia universities, and he worked at Goldman Sachs before starting his own investment firm. About Robert F. Smith. Robert F. Smith. [87][88][89], Smith has three children with his first wife. Issue digital access equality bonds: issue equality progress bonds and invest proceeds into SCIs digital access initiatives, 5. Moving Forward. Robert F. Smith Talks About the Future of His Philanthropy. Inside Philanthropy. 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. Copyright 2023 InfluenceWatch. Al Sharpton, Robert F. Smith, Robert F. Smith, Rev. Accessed August 25, 2021. He's the founder of the . [2], After more than a decade out of politics, Smith was elected to Congress from Oregon's 2nd congressional district in 1982. 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. Share Background Report Overview of Robert F Smith Jr Lives in: Findlay, Ohio Phone: View phone number Age: 70 Robert Smith Jr's Voter Registration Accessed August 25, 2021. [76] Smith was included on the Time 100, Time's list of the 100 most influential people in the world, in 2020. I said that was fantastic, because, while I was only a junior in high school, I was getting A's in computer science and my advanced math courses, so it was like I was in college. [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. Background Report. The settlement is reportedly connected to $200 million in assets that Smith moved offshore. 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. [4] Upon his return, he was elected chairman of the House Agriculture Committee, but only served one term before retiring for good. He also joined Ivanka Trumps advisory committee and rented a home near Mar-A-Lago, one of President Trumps properties. Celebrating Famous Black People From History, founding director and President of the Fund II Foundation, Learn About The Southern Communities Initiative, National Telecommunications and Information Administration (NTIA), Income Contingent Alternative to Parent Plus, Houston Minority Supplier Development Council (HSMDC), Office of Information Technology & Innovation, Charlotte Regional Business Alliance (CRBA). However, that did not stop Ivanka from aligning herself with the tech giant. 77th United States Secretary of the Treasury, Morehouse College Student Success Program, Billionaire Robert Smith reaches $140 million tax settlement with DOJ. 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. 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. Political Campaign Contributions. He worked as a rancher until his election to the Oregon House of Representatives in 1960. Smith also donated $5,000 to Republican Mitt Romney, according to the research group. No matter our skin color or our political beliefs, we must all agree that the right to vote is foundational to our democracy and who we are." -Robert F. Smith In March 2021 and again in January 2022 Smith collaborated with dozens of Black executives and the Freedom to Vote Alliance to condemn new voting restrictions that harken back to Jim Crow. [1] He advised on merger and acquisition activity with companies such as Apple and Microsoft. Lead community organization: The Collective Blueprint, Increase the volume and value of Black-owned businesses through corporate MBE spend and MBE startups & scaling, 1. What a time to be a Morehouse Man. In 2013,BEnamed the firm BE100s Financial Services Company of the Year and Smith as one of the Most Powerful Blacks on Wall Street. Robert Frederick Smith (born December 1, 1962) is an American billionaire businessman and philanthropist. Smith is a billionaire who has amassed a fortune largely through his company, Vista Equity Partners. 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. Robert Smith. 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. to help 100+ MBEs scale from <$1M to $5M+ in annual revenue, Estimated impact (of all initiatives): 3x increase in annual MBE revenue & 8K+ new jobs, boosting Black communitys net worth by ~$2B+, 3. Smith,. That is where Robert is right now. Dec 11, 2022, 10:03 AM. Background Report. 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 . 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