Robert F. Smith Net Worth & Biography

Robert F. Smith Net Worth & Biography

Robert F. Smith is an American entrepreneur, engineer, investor, inventor, and philanthropist. He is the Founder, Chairman and chief executive officer of Vista Equity Partners, a business entity that is specialized in investing and partnering with enterprise software companies. Bob was born to middle-class parents in a predominantly African-American neighborhood in Denver, Colorado. From an early age, he learned the importance of supporting his community and giving to the underprivileged from his parents. He first learned that everybody in life had a role to play in making the world a better place from watching his parents, who gave away their limited resources to support philanthropic causes on a regular basis, no matter what they were facing in their personal lives. This article continues in the next paragraph with all the important details of Robert F. Smith’s life, early years, academic and professional pursuits, and meteoric rise to abundant fame and prosperity.

Early Life: Childhood, Education

Robert Smith was born in Denver, Colorado, in the United States. His parents were working-class African Americans who made sure to bring him up in the best ways that they could and enshrined in him the spirit of working hard and helping other people.

He worked hard in the pursuit of his own happiness starting from his education by attending Cornell University from which he graduated with a degree in chemical engineering.

Professional Life: Entrepreneurial Career

After graduating from Cornell University, Robert Smith found a job in the science industry, particularly in Applied Research and Development. He attended Columbia Business School and graduated with honors before entering investment banking in the Mergers & Acquisitions division of the Goldman Sachs company in New York City and subsequently San Francisco. He initially worked for Kraft for a couple of years before going to join Goldman Sachs where he performed tremendously and earned massive recognition as well as prestigious honors.

To empower technology firms in the enterprise software market, Robert Smith launched his own business, a global investment firm which he started in 2000 and called it Vista Equity Partners. Today, he is the chief executive officer and chairman of Vista Equity Partners. Under his leadership, the portfolio of the firm in question has grown to include some leading enterprise software companies in the world.

Philanthropy

Throughout his life, Robert Smith’s commitment to philanthropy has never wavered, and he has remained resolute to finding ways to make a difference in the community of his residence. He considers his works of charity as central to his character and general approach to life.

During his 2019 commencement address at the historically Black institution, Morehouse College, Robert Smith surprised the graduating class by promising to pay off the student loan debt of the entire class — a $34 million gift that was beneficial to nearly 400 graduates.

Smith is a major funder of the National Museum of African American History & Culture. He is the current chairman of Robert F. Kennedy Human Rights, the chairman of Carnegie Hall, and many others.

Achievements: Awards & Honors

After graduating from college, Robert Smith started working in Applied Research and Development and received two European and United States patents, as well as numerous awards for his accomplishments.

He is currently the richest black person in America, unseating media mogul Oprah Winfrey from the top spot after occupying the second position for many years. At the time of this writing, Smith’s fortune makes him the second-wealthiest black person alive behind Nigerian industrialist Aliko Dangote, whose $10 billion fortune makes him worth nearly twice as much as Robert Smith.

Personal Life: Wife, Children, Private Interests

In 1988, Smith got married to his first wife, fellow Cornell University graduate Suzanne McFayden.

He got married for the second time in July 2015 when he tied the knot with Hope Dworaczyk. Hope is the founder and chief executive officer of skincare company MUTHA. She is a former Playboy playmate, fashion editor, and healthy living advocate.

Robert Smith and his first wife had three children together. He has two daughters and two sons with his current wife Hope.

Robert F. Smith Net Worth: Salary, Income Sources, Real Estate

Smith owns expensive homes in Florida, Texas, California, New York, and Colorado. His net worth of $6 million makes him the richest black man in America and one of the 120 wealthiest people in the United States. He earned his wealth as the founder, Chairman, and chief executive officer of Vista Equity Partners LLC which he single-handedly founded in the year 2000. Today, his Vista Equity Partners company controls over $50 billion in assets and has registered an average annual return of around 30% since its inception. Before launching Vista, he worked for Kraft from 1986 to 1992 before moving to Goldman Sachs’ Mergers & Acquisitions division where he remained from 1994 to 2000.

Mr. Robert Smith is the first black person to put their signature on Bill and Melinda Gates and Warren Buffett’s “Giving Pledge”. He has already moved to give away large portions of his wealth without hesitation and has been very active in philanthropy

Robert and his wife Hope own many homes in several cities in the United States. Their beachfront mansion in Malibu cost them $18 million in 2018. However, this home was sold for $24.5 million in January 2021. They own another Malibu property which they purchased in 2016 for the sum of $19.5 million from Real Housewives cast member Yolanda Hadid. In 2018 the duo also acquired a New York City home for a mind-numbing $59 million. They have since put the condo under extensive renovations, much to the displeasure of his neighbors who have publicly complained about the ongoing noise. In addition to all that has been mentioned, Robert and his wife, in November 2020, acquired two homes in North Palm Beach for the sum of $48.2 million.