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'''Robert Frederick Smith''' (born December 1, 1962) is an American businessman, investor and philanthropist. A former chemical engineer and investment banker, he is the founder, chairman and CEO of [[private equity]] firm [[Vista Equity Partners]]. Smith was ranked by ''[[Forbes]]'' in 2016 as the 274th richest person in America, the second wealthiest [[African Americans|African American]] on the list after [[Oprah Winfrey]].<ref>{{cite web |url=http://www.forbes.com/profile/robert-smith/?list=forbes-400 |title= Robert Smith |work= Forbes |date= |accessdate= 2015-10-09}}</ref> He was #688 on ''Forbes'' 2016 list of the world's billionaires, with a net worth of [[United States dollar|US$]]3 billion.<ref name="Forbes">{{cite web |url=http://www.forbes.com/profile/robert-smith/?list=billionaires |title=The World's Billionaires (2016 ranking): #688 Robert Smith |date= March 1, 2016 |work= [[Forbes]] |accessdate= 2017-01-05}}</ref>
'''Robert Frederick Smith''' (born December 1, 1962) is an American businessman, investor and philanthropist. A former chemical engineer and investment banker, he is the founder, chairman and CEO of [[private equity]] firm [[Vista Equity Partners]]. Smith was ranked by ''[[Forbes]]'' in 2016 as the 274th richest person in America, the second wealthiest [[African Americans|African American]] on the list after [[Oprah Winfrey]]. WILL SOMEBODY PLEASE FIX THIS. MICHAEL JORDANS PAGE SAYS HE IS THE SECOND RICHEST AFRICAN AMERICAN, AFTER OPRAH. MICHAEL JORDANS PAGE IS LOCKED AND CANNOT BE EDITED BUT THIS PAGE & MJS PAGE CLAIM TO BE SECOND RICHEST. WHICH IS IT!?!?!?! <ref>{{cite web |url=http://www.forbes.com/profile/robert-smith/?list=forbes-400 |title= Robert Smith |work= Forbes |date= |accessdate= 2015-10-09}}</ref> He was #688 on ''Forbes'' 2016 list of the world's billionaires, with a net worth of [[United States dollar|US$]]3 billion.<ref name="Forbes">{{cite web |url=http://www.forbes.com/profile/robert-smith/?list=billionaires |title=The World's Billionaires (2016 ranking): #688 Robert Smith |date= March 1, 2016 |work= [[Forbes]] |accessdate= 2017-01-05}}</ref>


==Early life==
==Early life==

Revision as of 02:07, 6 March 2017

Robert F. Smith
Born
Robert Frederick Smith

(1962-12-01) December 1, 1962 (age 61)
Denver, Colorado, U.S.
CitizenshipUnited States
Alma materCornell University
Columbia Business School
Occupation(s)Founder, Chairman and CEO of Vista Equity Partners
Spouse
​
(m. 2015)​
Children5

Robert Frederick Smith (born December 1, 1962) is an American businessman, investor and philanthropist. A former chemical engineer and investment banker, he is the founder, chairman and CEO of private equity firm Vista Equity Partners. Smith was ranked by Forbes in 2016 as the 274th richest person in America, the second wealthiest African American on the list after Oprah Winfrey. WILL SOMEBODY PLEASE FIX THIS. MICHAEL JORDANS PAGE SAYS HE IS THE SECOND RICHEST AFRICAN AMERICAN, AFTER OPRAH. MICHAEL JORDANS PAGE IS LOCKED AND CANNOT BE EDITED BUT THIS PAGE & MJS PAGE CLAIM TO BE SECOND RICHEST. WHICH IS IT!?!?!?! [2] He was #688 on Forbes 2016 list of the world's billionaires, with a net worth of US$3 billion.[1]

Early life

A fourth generation Coloradoan, Robert F. Smith was born to two parents with PhDs, who were school teachers. He grew up in a mostly African American, middle class neighborhood in Denver, and attended a newly-integrated school.

When he was an infant, his mother carried him at the March on Washington, where the Rev. Dr. Martin Luther King Jr. delivered his “I Have a Dream” speech.

In high school, he applied for an internship at Bell Labs but was told the program was intended for college students. Smith persisted, calling every day. When a student from M.I.T. did not show up, he got the position, and that summer he developed a reliability test for semiconductors.[3]

Smith earned a B.S. in Chemical Engineering from Cornell University.[4] At Cornell he was a brother of Alpha Phi Alpha.

Career

After working at Kraft General Foods as a chemical engineer, where he earned two United States and two European patents, he attended Columbia Business School.[5] Smith graduated with honors. From 1994–2000, he joined Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. He advised on over $50 billion in merger and acquisition activity with companies such as Apple, Microsoft, Texas Instruments, eBay and Yahoo. He was the first person at Goldman Sachs to focus solely on technology mergers and acquisitions and foreign countries .

Vista Equity Partners

In 2000, Smith founded Vista Equity Partners, a private equity and venture capital firm of which he is the principal founder, chairman and chief executive. Vista has over $26 billion in cumulative capital commitments. Vista has exclusively focused on the enterprise software, data and technolog sectors. Among Vista’s portfolio companies are Misys, TIBCO, Solera, Active Network, Bullhorn, Omnitracs, and Newscyle.

In January 2015, Vista Equity Partners was named the best performing private equity firm for the previous ten years, by the HEC-Dow Jones annual ranking conducted by professor Oliver Gottschalg.[6] Preqin, a consulting firm that tracks the industry, reports that Vista’s third fund returned $2.46 for every dollar invested, better than every other big fund raised between 2006 and 2010, the boom years for private equity.[4]

In October 2014, Vista closed its Fund V at $5.8 billion, its largest fund to date.[7]

Philanthropy and public positions

Smith has received the Reginald F. Lewis Achievement Award, the Humanitarian of the Year Award from the Robert Toigo Foundation, and the Ripple of Hope Award from Robert F. Kennedy Human Rights. Smith was also awarded an honorary Doctorate of International Affairs from American University’s School of International Service. He founded Project Realize– termed “Free Market Philanthropy”– in order to combine the best elements of the American free enterprise system with the core American ideals of giving back and lifting others up.[8]

Smith is the founding director and president of the Fund II Foundation. He is the Chairman of Robert F. Kennedy Human Rights,[9] serves on the board of overseers of Columbia Business School, as a member of the Cornell Engineering College Council,[10] and a Trustee of the Boys and Girls Clubs of San Francisco.[11] Smith is a Board Member of Carnegie Hall.[12]

Smith was named the board chairman of Carnegie Hall; the first African American to hold that position.[13]

Personal life

In July 2015, Smith married Hope Dworaczyk, a former Playboy Playmate, model, healthy living advocate, and fashion editor.[14] He has five children, three from a previous marriage and two with Dworaczyk.[5] Their first child, Hendrix Robert Smith, was born in December 2014.[14] Smith resides in Austin, Texas.[1]

References

  1. ^ a b c "The World's Billionaires (2016 ranking): #688 Robert Smith". Forbes. March 1, 2016. Retrieved January 5, 2017.
  2. ^ "Robert Smith". Forbes. Retrieved October 9, 2015.
  3. ^ Reeves, Benjamin (April 8, 2015). "Private Equity's Philosopher | Alumni". Columbia.edu. Retrieved October 9, 2015.
  4. ^ a b David Gelles (April 10, 2014). "A Private Equity Titan With a Narrow Focus and Broad Aims". The New York Times. Retrieved October 9, 2015.
  5. ^ a b Alexander, Keith L. (September 24, 2016). "'Who is this Robert Smith?': A quiet billionaire makes some noise with $20 million gift to the African American museum". Washington Post.
  6. ^ "HEC-Dow Jones Private Equity Performance Rankings: Which Firms Generated Best Performance for Their Investors Over the Past Years?". PERACS. January 19, 2015. Retrieved October 9, 2015.
  7. ^ Tan, Gillian (October 14, 2014). "Vista Equity Partners Emerges From Private-Equity Shadows". Wall Street Journal. Retrieved October 9, 2015.
  8. ^ "Robert F. Smith Named HT's Commencement Speaker « Huston-Tillotson". Htu.edu. Retrieved October 9, 2015.
  9. ^ "Robert Smith | Robert F. Kennedy Center for Justice & Human Rights". RFK Human Rights. Retrieved October 9, 2015.
  10. ^ "ECC Active Members 2015" (PDF). Engineering.cornell.edu. Retrieved October 9, 2015.
  11. ^ "Board & Trustees". Kidsclub.org. Retrieved October 9, 2015.
  12. ^ "Board of Trustees". Carnegie Hall. Retrieved October 9, 2015.
  13. ^ Smith, Jennifer (June 2, 2016). "Carnegie Hall Names New Board Chairman: Private-Equity Financier Robert F. Smith". The Wall Street Journal. Retrieved June 10, 2016.
  14. ^ a b Marquina, Sierra (September 28, 2015). "Hope Dworaczyk Smith, Husband Robert Smith Expecting Second Child". Us Weekly. Retrieved October 9, 2015.
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