Rank #338
Robert F. Smith
Net worth $10.0B
Private equity · United States
- Born
- Dec 01, 1962
- Age
- 63
- Source
- Private equity
- Residence
- Austin, Texas
- Citizenship
- United States
- Marital status
- Married
- Children
- 7
- Education
- Master of Business Administration, Columbia University; Bachelor of Arts/Science, Cornell University
Net worth over time
Biography
- Robert F. Smith founded private equity firm Vista Equity Partners in 2000. It focuses exclusively on investing in software companies.
- With about $100 billion in assets, Vista is one of the best-performing private equity firms, posting annualized returns of 31% since inception.
- In 2020, Smith entered into an agreement with the DOJ and the 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.
- Smith is the first African-American to sign the Giving Pledge, a commitment to contribute the majority of his wealth to philanthropic causes.
- Smith gave $20 million to the National Museum of African American History in 2016.