Provide technical expertise: offer subject matter and technical expertise to catalyze and support community initiatives, E.g., tax/accounting experts to help MBEs file taxes, E.g., business experts to help MBEs better access capital and craft business plans to scale their teams and operations, 2. In 2017, he joined the Giving Pledge, pledging to donate a majority of his net worth during his lifetime. Lives in: Madison, Connecticut Phone: (860) 922-4202. 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. He is a male registered to vote in Connecticut. Talk about a graduation gift! https://t.co/DdOhjvxaWJ. However, that did not stop Ivanka from aligning herself with the tech giant. [5] The wedding was attended by F. F. Montgomery, the Speaker of the Oregon House of Representatives, among others. He's donated thousands more to specific Democratic candidates including Barack Obama, Hillary Clinton, Kamala Harris, and Chuck Schumer. [51][52] He was later recognized as a distinguished alumnus by the college. 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. 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. Robert F. Smith believes deeply in the need to give back and support communities. But Smith said he kept calling back "every day for two weeks straight," and after an intern from MIT didn't show up, he was accepted as an intern. Commit to supplier diversity: increase MBE spend in Charlotte region to 5-10%+, Estimated impact (of all initiatives): 3x increase in MBE value & ~13K new jobs, boosting Black communitys net worth by ~$2B+, 4. Robert F Smith (born 1948) is listed at 34 Honor Road West Haven, Ct 06516 and has no political party affiliation. 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. Copyright 2023 InfluenceWatch. Smith is chairman and chief executive of Vista Equity Partners. His father, Benjamin F. Smith, was a doctor. [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. Smith attended Cornell for undergrad but never lost touch with Bell Labs. 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. The Commission maintains a database of individuals who have made contributions to federally registered political committees. We have to do something for our community., NEW YORK, NY DECEMBER 06: Robert Smith attends RFK Human Rights? Billionaire, philanthropist Robert F. Smith lobbies Washington, Wall Street for funding for minority businesses during pandemic - The Washington Post Advertisement This article was. [10] [11], After the Morehouse College donation, the Fund II Foundation co-founded the Student Freedom Initiative with a $50 million grant. May 28 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. Yes, he's richer than Oprah. 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. Billionaire philanthropist Robert F. Smith is known for his circle of powerful associates but he reportedly sought out the friendship of the Trumps after paying off the debts of the Morehouse College of 2019. Fund startups and give access to investor network $70M: grow the Prosper Health Tech Fund powered by Gener8tor and offer venture capital technical assistance to scale 50+ startups from <$1M to $5M+ in annual revenue; near-term priority is to secure $4M in venture investment by end of May 2022, 2. Powered by. Smith is worth an estimated $7.05 billion, according to the Bloomberg Billionaires Index. CEO and founder of private equity firm Vista Equity Partners. Smith did not flee the scene, was cooperative with investigators, and was determined to not be under the influence of intoxicants at the time of the wreck. [59] That same year, Smith donated $2.5 million to the Prostate Cancer Foundation to advance prostate cancer research among African-American men. Smiths overtures materialized as he spoke with Mnuchin daily on coronavirus relief according to Mnuchin. [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. [1] When he was an infant, his mother apparently carried him at the March on Washington, where the Rev. [60] 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. They are also used to choose convention . All Rights Reserved. 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. Oregon Blue Book: Earliest Authorities in Oregon - Speakers of the House of Representatives of Oregon. He made a real effort and didnt have a particular agenda He was legitimately interested in helping the program., Read More: Billionaire Robert Smith reaches $140 million tax settlement with DOJ. Robert F. Smith prioritizes making a difference in the communities where he lives and works. Jones, Charisse. He is also a major donor to the National Museum of African American History and Culture, the Chairman of Carnegie Hall, and the Chairman of Robert F. Kennedy Human Rights, among many others. Includes location, related records, political party, and more. Born in Prussia, Wagner migrated with his family to the United States in 1885. Robert F. Smith Discusses his Goalsetter Gift on MSNBC Today. Voreacos, David; Weinberg, Neil. 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. "They said I could apply if I were a junior or senior in college. 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. 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. Silicon Valley may be best known for billion-dollar valuations and soaring real-estate prices, but Smith's strategy is practically contrarian: He's investing in software and technology companies that aren't in the least bit flashy. [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. Smith has donated at least $1.6 million to the Democratic National Committee, according to Open Secrets, a non-profit, nonpartisan research group that tracks the effects of money and lobbying on elections and public policy. did not show up, he got the position, and that summer he developed a reliability test for semiconductors. Access your favorite topics in a personalized feed while you're on the go. Lead community organization: The Collective Blueprint, Increase the volume and value of Black-owned businesses through corporate MBE spend and MBE startups & scaling, 1. * 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. [31] In October 2020, Smith reached a non-prosecution agreement with the United States Department of Justice (DOJ), agreeing to pay a fine of $139 million. 4. He's also on the Board of Overseers of Columbia Business School, a Member of the Cornell Engineering College Council, and a Trustee of the Boys and Girls Clubs of San Francisco, according to his bio. 2020 Transaction Count/Amount. He's the "antithesis of [Blackstone CEO Steve] Schwarzman," a tech-industry banker told Business Insider. TheGrio is now on Apple TV, Amazon Fire, and Roku. Smith's firm, Vista Equity partners, has officesin Austin, Chicago, New York City, Oakland, and San Francisco. [13], Also in 2016, the Foundation gave $3 million to the Southern Poverty Law Center to support left-progressive criminal justice policy. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: New Orleans Business Alliance (community convener), Liberty, TruFund, LiftFund, NewCorp, etc. 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! Follow Robert F. Smith on social media for the latest on his work as a business and philanthropic leader. 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.) Smith has achieved a series of historic milestones throughout his life. Accessed August 25, 2021. You are responsible for building strong, safe places where our young brothers and sisters can grow with confidence, watch and learn from positive role models, and believe that, they too, are entitled to the American Dream. -Robert F. Smith @RFS_Vista #MorehouseGrad2019 pic.twitter.com/CeMs6CxQkq, Morehouse College (@Morehouse) May 19, 2019. [32][33][34][35][36] According to the DOJ, Brockman, the backer of Smiths first private equity fund, led him to use the offshore trust that concealed income. [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. 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. 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. Pick one school and unburden an entire generation. The measures even included allegedly shutting down the home's 15 bathrooms to guests in favor of outdoor port-a-potties at their Florida . [38] According to The Wall Street Journal and The New York Times, Brockman's lawyer helped Smith set up the offshore entity. Smith left Goldman Sachs, where he worked on tech M&A, in 2000 and launched his own private equity firm. [4] In 1994, Smith earned an MBA from Columbia University and pivoted his career towards business and finance. Moving Forward. Robert F. Smith Talks About the Future of His Philanthropy. Inside Philanthropy. ", Another banker told Business Insider that Smith was "one of the smartest men I've ever met.". Fund II Foundation 990. ProPublica. A blogger who has a large audience can create wealth by attracting advertisers. He was a Democratic U.S. [74] Smith was also inducted into the Texas Business Hall of Fame as a Class of 2019 Legend. 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. [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. The County Chair is the leader of the local party in each county throughout the state. In 2016, Smith and his wife bought a $20 million Malibu mansion from "Real Housewives of Beverly Hills" star Yolanda Hadid. Updated May 20, 2019. Accessed August 25, 2021. He was Speaker of the House for the 1969 and 1971 sessions. 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. Offer more paid internships: signup onto InternX and offer 25+ additional paid internships per year to HBCU/Black students, 4. Accelerate SCIs digital access initiatives up to $80M in donations or in-kind: invest in setting up internet connections / hotspots, offer laptops/Chromebooks and support adoption (through government subsidy technical assistance and digital literacy) to connect ~145K homes to high-speed internet in the Houston region*, 7. [78][79], 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. 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. 2012 Election Cycle. Robert F. Smith was born to two working-class parents in a predominantly African American, middle-class neighborhood in Denver, Colorado. [11] From 1994 to 2000, he worked for Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. 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. [75] 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. Billionaire investor Robert Smith on providing financial help for minority-owned small businesses. Robert has been a great champion for improving access to capital in distressed communities. Rhode Island. Senator from New York from 1927 to 1949. How he made his billions. 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. Details may include related records, political party, location, and more. 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. Philanthropy. Robert F. Smith. Komen. At that point, Smith had been under a four-year criminal tax investigation dating back to 2014, theGrio reported. 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. The New York Times called Vista's hiring strategy "decidedly unusual" for how it uses tests to whittle down candidate lists. Scale technical assistance $15M: fund*to expand technical assistance through business coaches and wrap-around services for 500+ MBEs over 5 years to help them scale from <$1M to $5M+ in annual revenue, 2. In Austin, Smith has started programs supporting music education and minority entrepreneurship, according to The New York Times. Here's a look at Smith's life and career. They gave us feedback and we made changes, Mnuchin told the Washington Post in June as part of a profile on the businessman. In response to Smiths charitable donation, many on Twitter are lauding him as an icon. [19]. [22], In 2016, Smith was named as Private Equity International's Game Changer of the Year for his work with Vista. Smith's former colleagues at Goldman Sachs were initially skeptical of his new venture. American investor, inventor, engineer, philanthropist, entrepreneur. He joined the Giving Pledge, pledging to donate a majority of his Philanthropy, the Speaker the. 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Changes, Mnuchin told the Washington Post in June as part of a profile the. ] Schwarzman, '' a tech-industry banker told Business Insider summer he developed a reliability test for.... In response to smiths charitable donation, many on Twitter are lauding him as an.. I 've ever met. `` the Future of his net worth during his lifetime relief according to New. Charitable donation, many on Twitter are lauding him as an icon it uses tests whittle! Smiths overtures materialized as he spoke with Mnuchin daily on coronavirus relief according to the United States in 1885 him! Database of individuals who have made contributions to federally registered political committees joined the Giving Pledge pledging. Herself with the tech giant # x27 ; s richer than Oprah predominantly African American, neighborhood! And finance Smith prioritizes making a difference in the communities where he lives and works estimated... Donation, many on Twitter are lauding him as an icon States in 1885 unusual for. 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