Table: Robert F. Smith Net Worth
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $9 billion | N/A | December 1, 1962 | Denver, Colorado | Male | N/A | Businessman, entrepreneur, philanthropist | American |
What is Robert F. Smith’s Net Worth?
Robert F. Smith, an American businessman, entrepreneur, and philanthropist, has a net worth of $9 billion. He is the wealthiest black person in America and one of the 125 richest people in the United States overall. In 2017, Smith became the first black man to sign the Giving Pledge, showcasing his commitment to philanthropy. Having already given away significant portions of his wealth through his foundation, he continues to make a substantial impact on various causes.
Highlights
– Robert F. Smith is the wealthiest black person in America, with a net worth of $9 billion.
– He is the founder, Chairman, and CEO of Vista Equity Partners LLC, a global leading investment firm focused on software and technology companies.
– Smith’s background as a chemical engineer contributed to Vista’s early success in identifying software investments.
– He has signed The Giving Pledge, committing to donate a majority of his wealth for philanthropic causes.
Early Life
Robert F. Smith was born on December 1, 1962, in Denver, Colorado. He comes from a family of educators, and his parents obtained doctoral degrees in education during his early childhood years. Smith attended a desegregated school and showed an aptitude for STEM learning, particularly in computer science during high school.
Smith’s determination and passion for learning were evident when he applied for an internship at Bell Labs during his junior year of high school. Despite initially being denied due to the program’s requirements for college students, Smith persistently called the H.R. Director until he secured the internship. This experience shaped his future career path and instilled in him a love for problem-solving.
After earning a bachelor’s degree in Chemical Engineering from Cornell University, Smith worked as a chemical engineer at Goodyear Tire & Rubber and later at Kraft General Foods. His interest in finance led him to pursue an MBA from Columbia University’s Business School, which further propelled his career.
Career
Following his MBA, Robert F. Smith joined Goldman Sachs in the Mergers & Acquisitions division, where he advised on $50 billion worth of technology merger and acquisition deals. In 2000, he founded Vista Equity Partners, a private equity and venture capital firm focusing on investments in software and technology companies.
Under Smith’s leadership, Vista Equity Partners has grown significantly, with over $50 billion in assets and owning more than 50 software companies employing 65,000 people worldwide. The firm’s investment strategies cover private equity, permanent capital, credit, and public equity, and they are known for their expertise in guiding sustainable growth in their portfolio companies.
Personal Life
From 1988 to 2017, Robert F. Smith was married to Suzanne McFayden, with whom he shares three children. In 2015, he married former Playboy model Hope Dworaczyk, and together they have four children. Hope is the founder and CEO of skincare company MUTHA.
Net Worth Over Time
Robert F. Smith’s net worth has experienced significant growth throughout his career. In 2017, his net worth was estimated at $2.5 billion, making him the second richest black person in America. By March 2018, his net worth had increased to $4.5 billion, surpassing Oprah Winfrey to become the richest black person in America. As of May 2019, his net worth was $5 billion, making him the second-richest black person in the world behind Aliko Dangote. Currently, his net worth stands at $9 billion.
Components of Net Worth
Robert F. Smith’s net worth primarily stems from his ownership stake and leadership position in Vista Equity Partners. The private equity/venture capital firm controls over $50 billion in assets and has a track record of delivering significant returns. Smith’s success as an investor and entrepreneur has propelled his net worth to $9 billion.
In addition to his business ventures, Smith has also made significant contributions to philanthropy. As a signatory of The Giving Pledge, he has committed to giving away a majority of his wealth to various causes, particularly in the field of education. Through his foundation, he has provided grants and support to initiatives in STEM and music education, African American history, healthcare, and environmental preservation, among others.
Disclaimer: All net worth figures are estimates based on publicly available data.