He was the second highest donor, next to Oprah, who donated $21 million. "I tell people there's nothing greater than liberating the human spirit," Smith told Business Insider about the gift. and increase community outreach to drive regional awareness and new pipeline projects over 5 years, 3. 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. By concentrating efforts to close gaps in funding education, technology, home ownership, healthcare, employment opportunities and more in these communities, we can magnify our impact. 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. Smith attended Cornell for undergrad but never lost touch with Bell Labs. Read more: 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. Smith is a billionaire who has amassed a fortune largely through his company, Vista Equity Partners. Robert is . Smith is chairman and chief executive of Vista Equity Partners. [61], Smith has received the Candle in Business and Philanthropy Award from Morehouse College,[62] the International Medical Corps Humanitarian of the Year Award,[63] Ebonys John H. Johnson Award,[64] and the Congressional Black Caucus Foundation's Chairman's Award, among others. [2][50], Also that year, Cornell University named the Robert Frederick Smith School of Chemical and Biomolecular Engineering after him, following a donation. You have to focus on everything that you're doing, seconds at a time.". Read More: Did Robert F. Smith use Black America? He is the richest of the seven Black billionaires in the United States, however. 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.) One Twitter user wrote, This is a small example of Black wealth, position, & power used properly., Another user wrote, Imagine if every billionaire did this. 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. Born in Prussia, Wagner migrated with his family to the United States in 1885. [2][41][42] Also in 2014, Smith received an honorary doctorate from Huston-Tillotson University. In 2016, Smith donated $20 million to the National Museum of African American Historyand Culture in Washington, DC. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking delivered daily to your inbox. did not show up, he got the position, and that summer he developed a reliability test for semiconductors. * 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. Subsidize internships & apprenticeships $40M: fund the New Orleans Youth Alliance, YouthForce NOLA and the Urban League of Louisiana to place and help subsidize apprenticeships, internships and other work-based learning experiences for ~20K young adults in high-pay sectors (e.g., energy), 5. Accessed August 25, 2021. Download theGrio today! 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. 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. [25] In a June 2020 report, Time reported the launch of The Student Freedom Initiative, a nonprofit led by Smith, to benefit HBCU students. [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. [53] In May 2017, The Giving Pledge announced that Smith had joined as its first African-American signatory. One hundred years later, our own Founding Fathers recognized the need for that and the other rights in that. He also attended Columbia Business School and ended up serving as co-chief of the investment banking division at Goldman Sachs. 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.". "This has been a heartbreaking and painful week for America and a reminder that in our endless pursuit of a 'more perfect union,' a great deal of work remains," Smith wrote. Under his leadership, the firms portfolio has grown to include some of the worlds leading enterprise software companies. [7], In 2014, Robert Smith founded the Fund II Foundation, a grant making philanthropic group. Smith has been cooperating with the investigation and will admit failing to pay about $30 million in taxes, with penalties and interest accounting for the total payout. The same year, Smith began working at Goldman Sachs as an investment banker focused on investments in technology and Silicon Valley. Robert F. Smith is a philanthropist and entrepreneur committed to uplifting the human spirit, particularly in underrepresented communities. Fund modernization & capacity-building and provide in-kind subject matter experts $30M:help 4-5 CDFIs/MDIs* over 5 years modernize their core systems, hire and train staff, expand marketing and standup SWAT team of experts to conduct needs diagnostic, implement tech solution & provide technical assistance;in-kind experts to also help build out the MBE ecosystem through CDFIs/MDIs, market CDFI/MDI offerings and programs and help draft final loan agreements to qualify borrowers between investment fund(s) and CDFIs/MDIs. TheGrio is now on Apple TV, Amazon Fire, and Roku. 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. 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. 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. Accessed August 25, 2021. ", Another banker told Business Insider that Smith was "one of the smartest men I've ever met.". 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. The Commission maintains a database of individuals who have made contributions to federally registered political committees. Smith ranks third in Forbes' Black Billionaires list, following Nigerian cement and commodities tycoon Aliko Dangote, worth $10.9 billion, and Nigerian-born Mike Adenuga, who made his fortune in the oil and mobile telecoms industries and is worth $9.1 billion. 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. Talk about a graduation gift! To empower technology companies in the enterprise software market, Smith launched Vista Equity Partners, a global investment firm, in 2000. 2,886/$314,048. 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. (Non-profit). In 2017, he joined the Giving Pledge, pledging to donate a majority of his net worth during his lifetime. To a Spreadsheet or Other File Type. The post Billionaire Robert Smith befriended Trump inner circle after paying off Morehouse debts: report appeared first on TheGrio. 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. Data on individual contributors includes the following: The following are examples of the various types of contributor searches that may be conducted: Search an individual contributor by their last and/or first name. He's donated thousands more to specific Democratic candidates including Barack Obama, Hillary Clinton, Kamala Harris, and Chuck Schumer. He is a male registered to vote in Connecticut. Issue digital access equality bonds: issue equality progress bonds and invest proceeds into SCIs digital access initiatives, 5. Robert Smith. After Smith made that announcement, you can see the shock and celebration take place in the audience, as the students registered fully what Smith was saying. 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. Now, Ive got the alumni over here, and this is a challenge to you, alumni: this is my class, 2019. Includes location, related records, political party, and more. To The Washington Postin an interview, Smith said that he decided to become a little bit more public in his efforts to improve the African American experience in the United States after he witnessed the unrest in Ferguson, Missouri in 2014, after the fatal shooting of Michael Brown. Jordan Hart. We have to do something for our community., NEW YORK, NY DECEMBER 06: Robert Smith attends RFK Human Rights? [74] Smith was also inducted into the Texas Business Hall of Fame as a Class of 2019 Legend. 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. A primary election is an election in which registered voters select a candidate that they believe should be a political party's candidate for elected office to run in the general election. Smiths gift to the class of 2019 was no small sum: according to AJC, the collective student debt amount for the entire class sits at around $40 million. Castle, Michael D. Black In America This Century Hurts. Lulu.com. [11] From 1994 to 2000, he worked for Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. He graduated with honors from Columbia Business School and entered the investment banking in Mergers & Acquisitions for Goldman Sachs in New York City and later San Francisco. He then pulled up at @Morehouses graduation this morning, received an honorary doctorate, and said hes establishing a grant to pay off everyones student loans in the class of 2019 ? I am showing the current generations of African Americans they can do it, too. 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. Voreacos, David; Weinberg, Neil. [2], On February 19, 1966, Smith married Kaye Elizabeth Tomlinson in Salem. Robert Frederick Smith (born December 1, 1962) is an American billionaire businessman and philanthropist. About Robert F. Smith. Robert F. Smith. Just a month later, he joined Ivankas White House American Workforce Policy Advisory Board which is tasked with rejuvenating the job market. When a student from M.I.T. [4] Upon his return, he was elected chairman of the House Agriculture Committee, but only served one term before retiring for good. One Future. initiative. 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. His father, Benjamin F. Smith, was a doctor. Robert has been a great champion for improving access to capital in distressed communities. After a brief retirement, he returned to Congress in 1997. [7], Smith was named in The Chronicle of Philanthropy's "Philanthropy 50" in 2017. The 2% Solution is a groundbreaking idea for generational change in at-risk communities. "When I finished business school and decided to join the tumultuous world of investment banking, my family and friends spoke up with concerns about my sanity," Smith said in his American University commencement speech. Adeniji, Ade. The County Chair is the leader of the local party in each county throughout the state. Follow Robert F. Smith on social media for the latest on his work as a business and philanthropic leader. Search; . From an early age, his parents stressed the importance of giving back and supporting his community. 3 min read Billionaire Robert Smith reportedly got closer to Ivanka Trump as the IRS closed in on him Billionaire philanthropist Robert F. Smith is known for his. He avoided further penalties and prosecution by agreeing to assist the DOJ in its case against Brockman, which would later result in the largest tax evasion prosecution in U.S. history. 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. Smith persisted, calling each Monday for five months. Some of their responsibilities include overseeing the Primary, Candidate Filing, and other elections; chairing County Executive Committee Meetings; organizing and leading the local party; as well as overseeing and/or assisting with precinct and county or Senate District Conventions as required. A state government trifecta is a term that describes single-party government, when one political party holds the governor's office and has majorities in both chambers of the legislature in a state government. 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. Among the recognitions he received are: 2020 Forbes Diversity & Inclusion Award 2020TIMEs100 Most Influential People 2019 Carnegie Medal of Philanthropy 2019 Inductee into the Texas Business Hall of Fame 2019 UNCF Presidents Award 2018 Honored by National Park Foundation 2017 Columbia University BBSA Distinguished Alumni Award 2016 Congressional Black Caucus Foundation Chairs Award 2010 Ripple of Hope Award from Robert F. Kennedy Human Rights Forbes 100 Greatest Living Business Minds. Accelerate digital access initiatives $75M:partner with local orgs* to invest in setting up internet connections / installing hotspots, offering laptops and supporting adoption (through government subsidy technical assistance and digital literacy) to connect ~135K homes to high-speed internet in the Memphis region, 9. Throughout his life, Smith has continuously supported a number of philanthropies and 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. The measures even included allegedly shutting down the home's 15 bathrooms to guests in favor of outdoor port-a-potties at their Florida . Robert F. Smith, CEO and founder of private equity firm Vista Equity Partners, will pay $140 million to settle to a four-year-long investigation into his personal taxes. Smith would rise to cohead of enterprise systems and storage-investment banking at Goldman Sachs, advising on $50 billion of deals from 1994 to 2000. They gave us feedback and we made changes, Mnuchin told the Washington Post in June as part of a profile on the businessman. In 2016, he was named the first African-American, as well as the first non-New Yorker, to be named the chairman of New Yorks Carnegie Hall. The move cost Smith $34 million. He is the founder, chairman, and CEO of private equity firm Vista Equity Partners. 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. [6], Smith was the first Black American to sign the Giving Pledge, pledging to donate most of his wealth to philanthropic causes before his death. 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. [91], Smith owns homes in Austin, Texas, Malibu, California, New York City, Denver, and Florida. Komen. The settlement is reportedly connected to $200 million in assets that Smith moved offshore. They divorced in 2014. [43], In 2015, Smith sponsored the college education of all returned Boko Haram girls. 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. Sometimes we think its just the Giving Pledge-kind of people making a difference, but its also individuals who may not have great wealth but who give generously of their time and resources. [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. What is the Southern Communities Initiative? Robert F. Smith. How he made his billions. Smith Pays Off Morehouse Graduates Student Loans. 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. Robert F. Smith is the Founder, Chairman and CEO of Vista Equity Partners, a leading global technology investment 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. [73], In October 2019, Smith received the Carnegie Medal of Philanthropy, which is given to individuals who have donated private wealth to the public. Political Campaign Contributions. What a time to be a Morehouse Man. Smith allegedly failed to pay taxes on about $200 million in assets that moved through offshore accounts tied to Robert Brockman, a Houston software businessman. Offer more paid internships: signup onto InternX and offer 25+ additional paid internships per year to HBCU/Black students, 4. The two previously knew each other as titans in the business specter. Over the years, Smith has made major contributions to the National African American History Museum, Carnegie Hall, Robert F. Kennedy Human Rights, Cornell University, Morehouse College and many other organizations. 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 . 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. [28][29]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. [87][88][89], Smith has three children with his first wife. Oregon Blue Book: Earliest Authorities in Oregon - Speakers of the House of Representatives of Oregon. View the voter registration of Robert F Smith (born 1952) from East Greenwich, Rhode Island. Homes in Austin, Texas, Malibu, California, new YORK, NY DECEMBER 06 Robert... 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