Discussion about Diversity, Equity and Inclusion has grown over the last few years as more, Image: NRC Region II Staff Members Celebrate HBCU Week by Nuclear Regulatory Commission is licensed, Every February, the U.S. celebrates Black History Month a time when we reflect on. 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. Accessed August 25, 2021. 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. [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. [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. ** Minority Serving Institutions / HBCUs with STEM programs being considered: Texas Southern University, University of Houston, Prairie View A&M University, Houston Baptist University, University of Houston-Clear Lake, University of Houston-Downtown, University of St Thomas. In May, Smith appeared on NBCs Meet the Press and deemed the leadership in Washington, people like Ivanka Trump and Senator [sic] Mnuchin, who have been very engaged with the Black community. 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. ", "Influential Black Entrepreneurs - Robert Smith", "Vista Equity: The Biggest Software Group You've Never Heard Of", "Robert F. Smith - Vista Equity Partners", "Vista Equity Partners to pay $1.9 billion in private-equity deal for Apptio", "Vista Equity Partners to invest $1.5B in India's Reliance Jio Platforms", "Vista Equity Partners Is Acquiring Ping Identity", "What to know about Robert F. Smith, the man paying off Morehouse grads' student loans", "Vista's Smith named PEI's 2016 'Game Changer', "Cover Story: Robert F. Smith, Chairman & CEO of Vista Equity Partners", "Who Is Robert F. Smith? Updated May 20, 2019. Billionaire, philanthropist Robert F. Smith lobbies Washington, Wall Street for funding for minority businesses during pandemic - The Washington Post Advertisement This article was. They are also used to choose convention . "I tell people there's nothing greater than liberating the human spirit," Smith told Business Insider about the gift. [4] Upon his return, he was elected chairman of the House Agriculture Committee, but only served one term before retiring for good. He is the richest of the seven Black billionaires in the United States, however. [57][58], 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. 1. Today, Smith is Vistas Chairman and CEO. 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. He was Speaker of the House for the 1969 and 1971 sessions. [90] He also has two sons and two daughters with his wife Hope. He is the founder, chairman, and CEO of private equity firm Vista Equity Partners . 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. Well done Robert F. Smith., Robert F. Smith: 5 Fast Facts You Need to Know, Copyright 2023 Heavy, Inc. All rights reserved. * Leading organizations for community strategy include (but not limited to): Community LIFT, Memphis CDFI Network, etc. 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. 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. Senator from New York from 1927 to 1949. 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. Would love your thoughts, please comment. Billionaire Robert F . 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. "[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. [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. The New York Times called Vista's hiring strategy "decidedly unusual" for how it uses tests to whittle down candidate lists. 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. Incredible supporter of the administrations actions on HBCUs, Ivanka said at the Sept. 23 event that Smith attended virtually. Contents 1 Early life 2 Career 3 Vista Equity Partners 4 Philanthropy 5 Politics 6 Tax evasion 7 Other achievements 8 Personal life 9 References Accessed August 25, 2021. Billionaire Robert Smith reportedly got closer to Ivanka Trump as the IRS closed in on him. Robert your voice will be a great addition to the board going forward.. [1] When he was an infant, his mother apparently carried him at the March on Washington, where the Rev. "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. Smith was worth an estimated $2.5 billion, as of 2016. In the years since its founding, the firm has generated bumper returns for investors and gradually increased assets under management. Smith's former colleagues at Goldman Sachs were initially skeptical of his new venture. Robert Smith. Everything You Need To Know: What Is an HBCU? (Photo by Michael Loccisano/Getty Images for RFK Human Rights). Fund SFI program $7M: fund the Student Freedom InitiativesIncome Contingent Alternative to Parent Plus to support ~15 Black STEM students per year forever at 4 HBCUs**, * Lead organization: The Collective Blueprint; Contributing local organizations for community strategy include (but not limited to): Greater Memphis Chamber and Workforce Midsouth, ** Minority Serving Institutions / HBCUs with STEM programs being considered: Le Moyne-Owen, Baptist Memorial, University of Memphis, Rust College, Estimated impact (of all initiatives): 8K+ additional college graduates and 10K workers with high-paying wages to drive ~$1B+ in economic growth, Increase accessibility, affordability and adoption of high-speed Internet, 8. Lives in: Madison, Connecticut Phone: (860) 922-4202. from 1999 to present. Visit Business Insider's homepage for more stories. [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. 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. The Grapevine-based company and its political arm aren't shy about their goals and plan to expand such activism beyond Tarrant County. Accessed August 25, 2021. (Non-profit). on the Board of Overseers of Columbia Business School, Smith ranks third in Forbes' Black Billionaires list, Read the memo private-equity titan Robert F. Smith, the richest black man in the US, sent to his staff about America's racial unrest, Robert F. Smith is a billionaire tech investor and philanthropist who founded and serves as CEO of, Smith was the target of a four-year investigation into his personal taxes that ended when the billionaire agreed to pay, Smith made headlines in May 2019 when he announced during his commencement address at Morehouse College that, Months later, he extended the $34 million gift to include the debt owed by the students' parents as well, per a Morehouse. 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. [74] Smith was also inducted into the Texas Business Hall of Fame as a Class of 2019 Legend. [11] From 1994 to 2000, he worked for Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. No charges or citations were filed against him regarding the wreck. Smith's held the party at his waterfront estate in Palm Beach, Fla. Sotheby's International Realty Attendees weren't encouraged to enter the $48 million house a 25,000-square-foot spread. Smith,. So the next generation can go even higher., Robert F. Smith says his mother's giving help inspire his philanthropy: "She instilled in me the importance of giving to the community" https://t.co/c4NHbWdOsS pic.twitter.com/vu6kamY7IB. Overview of Robert F Smith . 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. 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. * Minority Serving Institutions / HBCUs in Charlotte that are being considered: Johnson C. Smith University, Johnson & Wales University Charlotte, Charlotte Christian College, 6. Robert is registered to vote in Hancock County, Ohio. A state supreme court plays a role in the checks and balances . Smith also donated $5,000 to Republican Mitt Romney, according to the research group. 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 a SWAT team of experts to conduct needs diagnostic, implement tech solution & provide technical assistance.
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