Robert F. Smith
The richest Black American is Robert F. Smith, who founded Vista Equity Partners, a private equity firm that invests in software companies. Smith grew up in Denver and worked as a chemical engineer before earning his MBA. He started Vista Equity Partners in 2000, and it has posted annual returns of 30% every year.
Robert F. SmithInvestor$8B Real Time Net Worth as of 7/25/23#285 in the world today
About Robert F. Smith
- Robert F. Smith founded the private equity firm Vista Equity Partners in 2000. It focuses exclusively on investing in software companies.
- With $96 billion in assets, Vista is one of the best-performing private equity firms, posting annualized returns of 31% since inception.
- In October 2020, Smith entered into an agreement with the DOJ and IRS, agreeing to pay $139 million for his role in a tax evasion scheme.
- As a college student, Smith secured an internship at Bell Labs after calling the company every week for five months.
- An engineer by training, he worked at Kraft Foods and Goodyear Tire before getting his MBA at Columbia University.
- During a commencement speech, Smith vowed to wipe out the student debt of the entire 2019 graduating class of Morehouse College.
