You just need intellectual property. Would love your thoughts, please comment. Scale Black Business Works Fund $10M: grow the Urban League of Louisianas Black Business Works Fund to support ~3K-4K MBEs over 5 years with emergency working capital needs to support/sustain ~$1B+ in annual revenues, 2. This grant helped digitize Armstrong's collection to make it available to the public. [76] Smith was included on the Time 100, Time's list of the 100 most influential people in the world, in 2020. The move cost Smith $34 million. [55][56], In 2018, Fund II Foundation gave a $2.7 million grant to the Louis Armstrong House Museum, and Smith has served as a board member since. Smith said, On behalf of the eight generations of my family who have been in this country, were going to put a little fuel in your bus. Latest Forbes richest list shows Black billionaires remain a rare club. April 6, 2021. In 2016, Smith and his wife bought a $20 million Malibu mansion from "Real Housewives of Beverly Hills" star Yolanda Hadid. Increase MBE certification and scale technical assistance ~$2M: partner with One Houston Together* and the Houston Minority Supplier Development Council (HSMDC)** to certify additional MBEs, develop Minority Business Finder database tool and provide resources andservices to help local MBEs scale and participate in Pathways to Excellence program, 3. is listed at 1395 South Rd East Greenwich, Ri 02818 and is affiliated with the Republican Party. I see the little tears in the fabric of society every day. Smith married Hope Dworaczyk, the founder and CEO of skincare company MUTHA, a former Playboy playmate, healthy living advocate, and fashion editor, on July 25, 2015 after she gave birth to their first child in December 2014. 4. View the voter registration of Robert F Smith (born 1952) from East Greenwich, Rhode Island. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: Security Federal Bank, Institute / North Carolina Community Development Initiative, Sequoyah Fund Inc, etc. 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. [7], "Kaye Tomlinson and Robert F. Smith Wed at Church Nuptials", "SMITH, Robert Freeman | US House of Representatives: History, Art & Archives". [92][10][93][94][95], For other people named Robert F. Smith, see, "At Carnegie Hall, a New Leader With a Son Named Hendrix", "Billionaire Denver native donated $20 million to new African-American museum (Video)", "A Private Equity Titan With a Narrow Focus and Broad Aims", "Cornell Engineering To Recognize Robert F. Smith '85 With 2020 Distinguished Alumni Award", "5 things to know about Robert F. Smith, Morehouse donor to pay off Class of 2019's student loans", "Smith '85 to receive engineering college alumni honor", "Meet Robert F. Smith, the billionaire who's paying off student loans, owns a home in Malibu, and married a former Playboy model in a lavish Italian ceremony", "Who is Robert F. Smith? Accessed August 25, 2021. 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. They are also used to choose convention . 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. Ripple of Hope Awards Honoring VP Joe Biden, Howard Schultz & Scott Minerd in New York City. Accessed August 25, 2021. Robert Smith. The district's incumbent, freshman Republican Denny Smith (no relation), opted to run in the newly created 5th district after it absorbed much of the western portion of the old 2nd, including Denny Smith's home in Salem. Smith was born to Dr. William Robert Smith and Dr. Sylvia Myrna Smith, who were both school teachers. Trumps eldest daughter also sent out a series of tweets that praised Smith for being a change maker and that it was a pleasure working with him. 1. [5][6] Smith earned a bachelor's degree in chemical engineering fromCornell University in 1985. [25] In a June 2020 report, Time reported the launch of The Student Freedom Initiative, a nonprofit led by Smith, to benefit HBCU students. Celebrating Famous Black People From History, founding director and President of the Fund II Foundation, Learn About The Southern Communities Initiative, National Telecommunications and Information Administration (NTIA), Income Contingent Alternative to Parent Plus, Houston Minority Supplier Development Council (HSMDC), Office of Information Technology & Innovation, Charlotte Regional Business Alliance (CRBA). Smiths overtures materialized as he spoke with Mnuchin daily on coronavirus relief according to Mnuchin. Everything You Need To Know: What Is an HBCU? 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. [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. Two years ago, Fund II Foundation developed Cradle to Greatness, a framework that aligns our strategic grantmaking priorities with outcomes that prepare and propel generations of talent. on the Board of Overseers of Columbia Business School, Smith ranks third in Forbes' Black Billionaires list, 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, Robert F. Smith is a billionaire tech investor and philanthropist who founded and serves as CEO of, Smith was the target of a four-year investigation into his personal taxes that ended when the billionaire agreed to pay, Smith made headlines in May 2019 when he announced during his commencement address at Morehouse College that, Months later, he extended the $34 million gift to include the debt owed by the students' parents as well, per a Morehouse. 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. 2012 Election Cycle. "[30], In August 2020, Bloomberg reported that Smith was facing a tax inquiry regarding a potential failure to pay U.S. taxes on $200 million in assets, intended for U.S. charities, that were transferred through offshore entities. 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. Accessed August 25, 2021. Overview of Robert F Smith . 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. [1] Her father was the clerk of Marion County. When a student from M.I.T. [51][52] He was later recognized as a distinguished alumnus by the college. Accessed August 25, 2021. To empower technology companies in the enterprise software market, Smith launched Vista Equity Partners, a global investment firm, in 2000. [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. . Billionaire investor Robert Smith on providing financial help for minority-owned small businesses. In 1689, the British Parliament passed an extensive bill of rights, including the right to keep and bear arms (the people had just had to fight a real civil war). 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 ~135K unconnected households, * Lead organization: The Collective Blueprint; Contributing local organizations for community strategy include (but not limited to): CodeCrew, Estimated impact (of all initiatives): ~135K households connected to high-speed internet to unlock ~$2B+ in economic potential, Lead community organization: Greater Houston Partnership, 1. May 28 As of August 2021, the Initiative has garnered commitments from over 70 companies to invest $65 billion. 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. One hundred years later, our own Founding Fathers recognized the need for that and the other rights in that. In 2017, he joined the Giving Pledge, pledging to donate a majority of his net worth during his lifetime. The pedestrian was in the crosswalk when Smith hit him with his car, and he later died at the scene. His bio from Black Enterprise reads in part. 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. [19][20][21] As of 2019, Vista Equity Partners had closed more than $46 billion of funding. 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. Robert D. Burns III (unopposed) 100.00%: . 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 . 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.". Includes location, related records, political party, and more. He continued to work there as an intern during his summer and winter breaks before graduating Cornell with a chemical engineering degree. Share 20.8K. Smith gave a commencement speech at American University's 2015 graduation, where he spoke about his earliest attempts to get work in Silicon Valley while he was still in high school. [69][70][71][72] He had previously donated $1.5 million to the school in January 2019, to be used for scholarships and a park. Steve Smith: 19.60%: . The same year, Smith began working at Goldman Sachs as an investment banker focused on investments in technology and Silicon Valley. Fund SFI program $12M: fund the Student Freedom Initiatives Income Contingent Alternative to Parent Plus to support ~120 Black STEM students per year forever at 3 HBCUs*, * Minority Serving Institutions / HBCUs being considered: Dillard University, Southern University New Orleans and Xavier University of Louisiana, 6. "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. Smith will pay $140 million to settle to a four-year-long investigation into his personal taxes, Bloomberg reported. Partygoers weren't . He is a male registered to vote in Connecticut. 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. During his 2019 commencement address at Morehouse College, a historically Black institution, Smith surprised the graduating class by pledging to pay off the entire class student loan debt a $34 million gift that helped nearly 400 graduates. Robert is . 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. Smith's firm, Vista Equity partners, has officesin Austin, Chicago, New York City, Oakland, and San Francisco. 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 ~145K unconnected households, * Community organization(s) being identified, Estimated impact (of all initiatives): ~145K households connected to high-speed internet to unlock ~$3B in economic potential, Lead community organization: Urban League of Louisiana, 1. Vista has posting annualized returns of 22% since its beginning, according to Forbes. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: First Bancshares, Commonwealth National Bank, TruFund, Sabre Finance, Bronze Valley, etc. Just a month later, he joined Ivankas White House American Workforce Policy Advisory Board which is tasked with rejuvenating the job market. Al Sharpton, others gather for joint Kwanzaa, Hanukkah celebration", "Mayor Eric Adams, Rev. Throughout his life, Smith has continuously supported a number of philanthropies and causes. Robert F. Smith prioritizes making a difference in the communities where he lives and works. This cannot beWe have to do something. Have you subscribed totheGrios podcastDear Culture? Copyright 2023 InfluenceWatch. The nonprofit is devoted to supporting the careers of recent college graduates in minority serving institutions. [12], In 2016, the Foundation gave $20 million to Smiths alma mater Cornell University to support its chemical engineering school. did not show up, he got the position, and that summer he developed a reliability test for semiconductors. [91], Smith owns homes in Austin, Texas, Malibu, California, New York City, Denver, and Florida. No charges or citations were filed against him regarding the wreck. As of 2019, the firm has $46 billion in funding. Throughout his life, Smiths commitment to philanthropy and equity has never wavered, and finding ways to make a difference in the communities where he lives and works is central to his character and approach to life. 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. This page focuses on the Republican primaries that took place in Texas on March 1, 2022. In response to Smiths charitable donation, many on Twitter are lauding him as an icon. 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. 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. [4] In 1994, Smith earned an MBA from Columbia University and pivoted his career towards business and finance. [73], In October 2019, Smith received the Carnegie Medal of Philanthropy, which is given to individuals who have donated private wealth to the public. Smith said, The vision I was sold as a kid is unraveling. Robert F. Smith is a philanthropist and entrepreneur committed to uplifting the human spirit, particularly in underrepresented communities. Incredible supporter of the administrations actions on HBCUs, Ivanka said at the Sept. 23 event that Smith attended virtually. Smith, the richest Black man in the country who is worth an estimated $5.2 billion per Forbes, was heralded last year when he pledged to pay off the $34 million in loans for the graduating Morehouse class. He was Speaker of the House for the 1969 and 1971 sessions. Now they did all the heavy lifting. Many of them had college loans and parents PLUS loans coming out of their neighborhoods, fighting what they were fighting for, and then getting educated. Smith cooperated with the investigation and agreed to admit misconduct but will not be prosecuted, according to reports. From an early age, his parents stressed the importance of giving back and supporting his community. Smith is worth an estimated $7.05 billion, according to the Bloomberg Billionaires Index. 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. 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. Talk about a graduation gift! [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. 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. [11] From 1994 to 2000, he worked for Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. In 2016, Smith was the subject of another massive charitable effort, when he donated $20 million to the African American Museum in 2016. https://t.co/DdOhjvxaWJ. 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. Today, Smith is Vistas Chairman and CEO. Smith attended Cornell for undergrad but never lost touch with Bell Labs. Robert, on the other hand, has donated more than $250,000 to Republican campaigns and political groups. 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.) ** Minority Serving Institutions / HBCUs with STEM programs being considered: Texas Southern University, University of Houston, Prairie View A&M University, Houston Baptist University, University of Houston-Clear Lake, University of Houston-Downtown, University of St Thomas. [1] When he was an infant, his mother apparently carried him at the March on Washington, where the Rev. He's donated thousands more to specific Democratic candidates including Barack Obama, Hillary Clinton, Kamala Harris, and Chuck Schumer. Smith reportedly approached the agency for amnesty from prosecution under a program for Americans who did not report offshore assets but the request was declined. In 2019, the foundation raised more than $22 million and spent almost $36 million. Warning: Creating default object from empty value in /homepages/17/d4294970467/htdocs/morpheus/wp-content/themes/virtue/themeoptions/inc/class.redux_filesystem.php on . The 2% Solution is a groundbreaking idea for generational change in at-risk communities. 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. 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. One Future. initiative. [80][81], In May 2022, Cornell University announced a $15 million donation from Robert Frederick Smith that will provide financial aid to engineering students from historically underrepresented communities. As of April 2021, Smith was the wealthiest Black American, with a net worth of $6 billion. 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. 4. 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. Smith,. 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. I am showing the current generations of African Americans they can do it, too. 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. [1][9][10], After graduating from Cornell, Smith worked at Goodyear Tire and Rubber Company, Air Products & Chemicals, and later at Kraft General Foods as a chemical engineer,[1] where he registered two United States and two European patents. Smith served in Congress until 1995. 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. Philanthropy. Robert F. Smith. 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. Visit Business Insider's homepage for more stories. 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. Smith also donated $5,000 to Republican Mitt Romney, according to the research group. Details may include related records, political party, location, and more. Standup training hub $30M: fund* the establishment a world-class training hub that offers certificate-granting STEM and innovation programs in advanced manufacturing, health care, etc. Abbott's strike force to reopen Texas", "Why graduates of elite universities dominate the Time 100 and what it means for the rest of us", "Billionaire Robert Smith Launches $1.8M Program to Provide Microgrants to HBCU Students In Need", "Robert F. Smith Launching $1.8M Grant Program For HBCU Students", "For(bes) The Culture Newsletter: April Showers Bring Forth Impact And Influence In The White House, In Media And In Entrepreneurship", "Robert F. Smith Pledges $3.8M To Build Mobile Unit That Helps Black Men Be Proactive About Prostate Health", "Cornell receives $15 million for minority engineering student aid", "Exclusive FLOYD MAYWEATHER MAKING 'LAST DANCE' STYLE DOCUSERIES 'The GOAT', "Floyd Mayweather's "The GOAT" docuseries is officially in the works", "Floyd Mayweather Will Tell His Story His Way With 'The GOAT' Docuseries", "Floyd Mayweather Inks Life-Rights Deal With Hidden Empire Films, Announces 'The GOAT' Docuseries About Life and Career", "Hope Dworaczyk Smith Pregnant With Second Child! And that summer he developed a reliability test for semiconductors misconduct but will not be prosecuted, according to research... Where he lives and works commitments from over 70 companies to invest 65. 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