Big Thinkers - Robert F. Smith - S2EPI- 148

Robert F. SmithThe 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.