Robert F. Smith is an American businessman, entrepreneur, and philanthropist who is the second-richest black man in America with a net worth of $10.8 billion.
Smith follows behind David Steward, the founder of IT management company World Wide Technology, who is estimated to have $11.4 billion in net worth to secure the top spot among black individuals, according to Forbes.
Robert F. Smith was born in Denver, Colorado on December 1, 1962. His ancestry originated from Colorado which made him a fourth-generational Coloradan.
His parents were educators, who obtained doctoral degrees in education during Smith’s early childhood years which is fair to say set a precedent for him to follow.
Robert attended a desegregated school from his first grade to go to a school with excellent resources.
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Robert Smith’s aptitude for STEM learning was evident in high school when he was first introduced to computers.
He went ahead to study chemical engineering at Cornell University and earned a B.S. in chemical engineering, which landed him a job at Goodyear Tire and Rubber.
He then worked as a chemical engineer at Kraft from 1986 to 1992 earning two European patents while there.
Robert F. Smith’s interest in finance eventually led him to obtain an MBA at Columbia Business School at Columbia University.
After graduating with honors in 1994. Smith got hired by Goldman Sachs in their mergers and acquisitions division until he forged his entrepreneurial path with Vista in 2000.
A firm that invests in enterprise software, data, and technology companies, according to the company website.
Vista Equity Partners is a global leading investment company, and Smith’s background as a chemical engineer greatly contributed to the company’s early identification as a prime software investment market.
Vista Equity Partners focuses on companies in the software and technology sectors, and its portfolio companies include Forcepoint, Comply, Datto, Brainware, and InfoBlox, among others.
In 2024, Vista Equity Partners made additional billion-dollar moves, which included joining Blackstone in the acquisition of Smartsheet.
Vista Equity Partners also went ahead to extend their interest into the intersection of education and technology, with the firm retaining its minority stake in PowerSchool Holdings Inc.
Vista Equity Partners has more than $50 billion in assets and has delivered an average annual return of 30% since its inception.
Robert Smith’s net worth of $10.8 billion is a result of his role as founder, chairman, and partner at Vista Equity Partners, and as an active philanthropist, he has given away large portions of his net worth to help those in need.
