richest robert f smith

Robert F. Smith is the richest black man in America, and one of only four to currently have a net worth of more than one billion dollars. Robert F. Smith, the richest African-Amerrican in the world, made a huge chunk of his money through investments. Here is how he did so. Smith, whose $5 billion net worth makes him the richest Black person in the United States, per Forbes, has established himself as a generous.

Richest robert f smith -

  Opinion contributor

In a world filled with overwhelming negativity, great and heartwarming news came out of Atlanta last weekend. After previously pledging $1.5 million to the school, billionaire Robert F. Smith, reportedly the richest black man in America, went off-script during his commencement speech at my alma mater, Morehouse College.

He claimed the Class of 2019 as “my class” and announced he was creating a grant that would pay off the student loan debt of every graduate walking across the stage that day. Wow!

The story quickly went viral and had multiple positive effects. It added to the ongoing dialogue about the growing weight of student loan debt and increasing inaccessibility of higher education in America. It also illustrated that economic elites, black, white and other, can do more than exploit or engage in “empty philanthropy.” They really can make a difference on individual and collective levels.

3 fast facts: Robert F. Smith gift to Morehouse highlights burden of student loan debt

Importantly, this story introduced many of us to Robert F. Smith. He is not an athlete, musician or comedian. He provides a different model of black male success than what is often pushed in the mainstream. Maybe most importantly, Smith’s fabulous idea introduced Morehouse to a good percentage of Americans who think great collegiate education begins and ends with Harvard, Yale and the like. It doesn’t.

If you didn’t know, Morehouse is the elite, historically black, all-male college founded in 1867 that has given us a host of transformative American icons, including Martin Luther King, Jr. (Class of 1948). If you have any sense of history, like Robert F. Smith, you know Morehouse has given the world so much more.

Often accused of arrogance, Morehouse Men and the institution have good reason to be proud of the long line of men who have walked the school’s halls and went on to change the course of local, national and global history. Morehouse produced Atlanta’s first trailblazing black mayor Maynard Jackson, civil rights icon Julian Bond, filmmaker Spike Lee, U.S. Surgeon General David Satcher, actor Samuel L. Jackson, Olympian Edwin Moses, 1969 World Series MVP Donn Clendenon, businessman and Morehouse President Walter Massey.

More from Ricky Jones: Kentucky, Alabama are finally putting these out-of-control women in their rightful place

Well-known or not, Morehouse’s more recent graduates are laboring as well. Dr. Eddie Glaude Jr. from the Class of 1989 often seems the most reasonable and intelligent voice on MSNBC. My friends and fellow professors Jeffery O.G. Ogbar, David Canton, Walter Rucker, Jamal Ratchford and many others are impacting colleges and universities from Georgia to Connecticut to Colorado and beyond. Sankofa United Church of Christ Pastor Derrick Rice is a conscious, prophetic religious leader cut from the cloth of King in Atlanta. My classmate Olu Stevens is one of the few black judges in Kentucky. Our class president, the Rev. Dr. Otis Moss III, succeeded the legendary Jeremiah Wright as pastor of Chicago’s Trinity United Church of Christ. The list goes on and on.   

My own Morehouse story was personally transformative. I transferred there from the U.S. Naval Academy as I was coming into manhood in 1990. My raucous time at the Academy nearly ruined my psyche, sense of self and college career. I left after a period of epic revolutionary lawlessness that is still legendary in certain Annapolis circles. The school was bad; I was worse. But, that is another story.

I still remember sitting down with Morehouse’s dean of admissions as I sought entrance. He asked, “So, you’re the young man who caused all that trouble at the Naval Academy.” I answered sheepishly and shamefully, "Yes, sir — I am.” To my surprise, he stood and reached for my hand, “Son, I don’t know any self-respecting black man who wouldn’t cause trouble in a place like that. Welcome to Morehouse. Welcome home.” Navy gave up on me. Morehouse didn’t. God, I love that place. It changed my life — as it has so many others.

When Robert F. Smith told newly minted Morehouse Men he expected them to “pay it (his gift) forward,” he wasn’t just talking about money. It’s bigger than that. He was encouraging them to do what Morehouse has always encouraged its graduates to do — serve humanity and change the world. As the great theologian Howard Thurman (Class of 1923) said, “Over the heads of her students, Morehouse holds a crown that she challenges them to grow tall enough to wear.” Every Morehouse Man aspires to this and make Dear Old Morehouse proud. Robert F. Smith is helping a few along the way.

Make no mistake, Brother Smith blessed Morehouse College. Love to him. Also, don’t you forget, for more than 150 years, Morehouse College has blessed the world. May God continue to bless them both.

More from Ricky Jones: Nipsey Hussle's shooting a reminder that we only celebrate freedom fighters in death

Ricky L. Jones is chair of Pan-African Studies at the University of Louisville. His next book, co-authored with Marc Murphy, is titled, “Colin, Confederates and Con-Artists: The American Tragedy of Erasing History.” He is a member of Morehouse College’s Class of 1992. His column appears bi-weekly in the Courier-Journal. Visit him at www.rickyljones.com.

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Источник: https://www.courier-journal.com/story/opinion/2019/05/20/morehouse-college-has-blessed-the-world-for-more-150-years/3744361002/

Black billionaire Robert F. Smith surprised the Morehouse College 2019 graduating class when he announced plans to pay off the student loans of the 400 graduates at the all-male historically Black college.

Reports indicate that the announcement came as a surprise when Smith was making his commencement speech shocking students and college administrators. Smith was immediately thrust into the spotlight with headlines about who he is and his wealth.

He’s the nation’s wealthiest African American and the 163rd richest person in America

Smith has a reported net worth of $5 billion making him the 163rd richest person in the United States and the richest Black person in America. In case you were wondering, he’s richer than Oprah Winfrey, who has a net worth of $2.6 billion, and Michael Jordan, who has a net worth of $1.9 billion. Smith’s wealth also surpasses Donald Trump’s who’s net worth is around $3 billion.

He’s from Denver, Colorado

Smith was born December 1, 1962 in Denver, Colorado. His parents were Ph.D. holding educators. When he was an infant, his mother carried him during the March on Washington where Dr. Martin Luther King made his “I Have a Dream Speech.”

He a businessman and investor

Smith is the founder, chairman and CEO of private equity firm Vista Equity Partners. His firm focuses on financing and forwarding software and technology-enabled startup businesses, as well as passive equity investments. Smith founded the company in 2000 and has offices in Austin, Chicago and San Francisco.

He was a chemical engineer holding patents and an investment banker

Prior to starting his own company, Smith worked for Air Products & Chemicals, Goodyear Tire and Rubber Company and Kraft General Foods as a chemical engineer. He earned two United States and two European patents while working for the companies. He also worked for Goldman Sachs in technology investment banking.

He’s an Alpha

Smith is a member of Alpha Phi Alpha Fraternity, Inc., the first African-American, intercollegiate Greek-lettered fraternity. He was initiated into the fraternity in 1982 at his alma mater Cornell University where Alpha Phi Alpha was founded.

He’s a well-known philanthropist

Giving to Morehouse College students is just one of Smith’s many philanthropic acts. He’s also donated funds towards prostate cancer treatment for Black men and for breast cancer research for Black women. In 2018, Smith donated $1 million to the Cultural Performance Center at the Denny Farrell Riverbank State Park in Harlem. He is the first African American to serve as board chairman of Carnegie Hall.

He has several homes

Like most wealthy people, Smith owns several homes in Austin, Malibu and New York City.

He’s married and the father of five children

Smith is currently married to healthy living advocate Hope Dworaczyk. The couple wed in 2015 and have two children together. He was previously married to Suzanne McFayden Smith with whom he has three children.

He enjoys fishing

Reports indicate that Smith partakes in fly fishing in his spare time.

Источник: https://amsterdamnews.com/news/2019/05/20/robert-smith-morehouse/

Morehouse College shows great education doesn't begin and end with Harvard


Ricky L. Jones 

Meet the Richest Black Billionaire in America, a Tech Investor Who Just Paid Off Student Loan Debts for an Entire Graduation Class

Robert F. Smith, the richest black billionaire in America, made it an extra-happy graduation day for the roughly 400 students who just received their degrees from Morehouse College. While giving the commencement address on Sunday, Smith pledged an estimated $40 million to pay off the student loan debt of every Class of 2019 Morehouse College graduate.

Robert F. Smith is a former Goldman Sachs executive, and the founder and CEO of the software investment firm Vista Equity Partners. Prior to receiving an honorary doctorate and giving the 2019 commencement speech over the weekend, Smith had agreed to donate $1.5 million to Morehouse College, a historically black institution in Atlanta where the cost of tuition and fees averages about $48,000 a year.

But Morehouse students and administrators say they had no idea that Smith would announce in his speech that he was paying off the student loan debt of every graduate.

"This is my class, 2019, and my family is making a grant to eliminate their student loans," Smith said, as the crowd of 7,500 attendees burst into cheers.

All that Smith asked of students in exchange is that they find some way to repay the gift, by way of good deeds for others. “This is my class,” Smith said, “and I know my class will pay this forward.”

Here's more of what we know about Robert F. Smith, including details about his career, net worth, and philanthropy.

Who Is Robert F. Smith, the Richest African-American on Earth?

Robert F. Smith's net worth is currently estimated at $5 billion, according to Forbes.

Of the 2,153 people on the Forbes' 2019 list of the world's billionaires, 13 were black. The two richest black billionaires, Aliko Dangote and Mike Adenuga, are both from Nigeria, with net worths of $10.9 billion and $9.1 billion, respectively. Robert F. Smith comes next on the list at $5 billion, which is good enough to make him the richest African-American and the world's third-richest black billionaire overall. (Oprah Winfrey and Michael Jordan are further down on the list, with net worths estimated at $2.5 billion and $1.9 billion, respectively.)

Robert F. Smith, 56, was born and raised in Denver, Colorado. He earned a chemical engineering degree from Cornell University in 1985, and he worked as an engineer for companies such as Kraft and Goodyear Tire.

Smith received his M.B.A. from the Columbia University Business School in 1994, and worked in the mergers and acquisition department of Goldman Sachs through 2000. He focused in tech while at Goldman Sachs, and advised on $50 billion worth of investments with companies like Apple, Microsoft, and eBay.

In 2000 Smith founded Vista Equity Partners, a private equity firm that invests in software and tech. Vista currently oversees a portfolio of four dozen software companies that collectively employ more than 60,000 workers.

Forbes reported in 2015 that Vista Equity Partners routinely boasted 30% annual returns from its investments. Smith made the "Forbes 400" for the first time that year, with a net worth of $2.5 billion, ranking him No. 269 on the list of richest Americans, as well as the second-richest African-American (after only Oprah Winfrey). Robert F. Smith nudged Oprah out of the top spot in 2018, when Forbes estimated his net worth at $4.4 billion and named him as the nation's richest African American.

Smith has five children, including three from his first marriage, to Suzanne McFayden. In 2015, after getting divorced, Robert F. Smith married Hope Dworaczyk, the 2010 Playboy Playmate of the Year, in a luxurious ceremony held in a resort along the Amalfi Coast of Italy. John Legend and Seal were among the performers.

Hope and Robert F. Smith purchased a $59 million penthouse in the Chelsea neighborhood of Manhattan in 2018. The apartment covers two floors has 10,000 square feet of living space, including six bedrooms, seven bathrooms, and a private rooftop terrace with a pool.

The Smiths also own an 11,622-square-foot mansion in Malibu, California, which they bought in 2015 from “Real Housewives of Beverly Hills” star Yolanda Hadid for roughly $20 million. The home in Malibu is currently being rented by another reality TV star, Kylie Jenner.

Robert F. Smith: Giving Pledge and Other Philanthropy

Smith was the first African American to sign the Giving Pledge, a foundation and movement created by Warren Buffett and Bill and Melinda Gates to encourage billionaires to give away their fortunes to help solve the world's problems.

"My path was paved by my parents, grandparents and generations of African-Americans whose names I will never know," Smith explained when announcing his commitment to the Giving Pledge in 2017. "Their struggles, their courage, and their progress allowed me to strive and achieve. My story would only be possible in America, and it is incumbent on all of us to pay this inheritance forward."

Smith had been renowned for his philanthropy and generosity long before promising to eliminate the student debt for 2019 Morehouse College graduates. Among his biggest donations have been $50 million to Cornell University, for the creation of the Robert F. Smith School of Chemical and Biomolecular Engineering, and $20 million to the National Museum of African American History and Culture in Washington, D.C.

Smith is a huge music fan — he named one of his sons Hendrix and owns a piano that belonged to Elton John — and became the chairman of Carnegie Hall in New York City in 2016. Smith is simultaneously the chairman of the Robert F. Kennedy Human Rights group, and serves as a trustee for the Boys and Girls Club of San Francisco.

Another of Smith's passions is Lincoln Hills Cares, a nonprofit he cofounded to provide outdoor experiences to young people in his native Colorado. The historic Lincoln Hills ranch was founded as an African-American retreat in 1922. Smith's parents went on vacation there every summer, and he purchased the property a few years ago.

"Last summer, we had over 5,400 inner city kids at our ranch. We had about 200-300 wounded veterans who fly fish," at Lincoln Hills, Smith told the Denver Post in 2017. "We have a program with Craig Hospital for quadriplegics where they can actually fish with blow tubes. And we have an inner city program for girls for equestrian riding."

2019 Morehouse College Graduates Ecstatic After Smith's Gift

Robert F. Smith's pledge to pay off this year's Morehouse College graduates' student loan debt left the commencement crowd overwhelmed with gratitude.

“If I could do a backflip, I would. I am deeply ecstatic,” a Morehouse business administration graduate named Elijah Dormeus told the Atlanta Journal-Constitution.

“I didn’t believe it. I kept asking people for reassurance that he just said what he said,” Carney Burns, whose son John just graduated from Morehouse College with what he had expected would be $35,000 in student loan debt, said to the Wall Street Journal. “A Morehouse education, you can’t put a price on it, but the bills are real.”

Another 2019 Morehouse graduate, 21-year-old Dwytt Lewis of Compton, California, said that he felt a huge "weight lifted off your shoulders" after hearing that his $150,000 in debt was being paid off by Smith and his family. "It's just an overwhelming feeling, in a good way," Lewis said to CBS News. "I'm so motivated to go change the world."

Источник: https://money.com/robert-f-smith-net-worth-billionaire-student-loan-debt-morehouse/

Local musicians tended to be underpaid before COVID-19 sent the music industry reeling, but the fallout from the pandemic exasperated the existing problems. Musician and marketer Monfre knows—he’s been behind that shaking tip jar, trying to turn a profit while doing what he loves. He’s tackling the problem with a unique brand of live shows, which go against the grain, mix business with pleasure and help bring home the bacon.

The shows, called Stories from the Road, are an informal storytelling jam session at The Saxon Pub that encourages interaction between the artist and audience.

After a brief hiatus due to ongoing woes of the pandemic Stories from the Road came back to The Saxon Pub on Saturday. It was the first of 23 consecutive shows that didn’t sell out, which Monfre attributes to the break of not having shows.

“We called it Stories from the Road—not a band, an experience,” Monfre said. “We're not going to rehearse, we're not going to have a list, we're not going to prepare, every show is a one-off and you will never see it again.”

His shows start early at 6 p.m., with a rotating group of musicians playing blues or Americana who need not rehearse. This time it featured Mark "Kaz" Kazanoff on saxophone and harmonica, bassist Mark Epstein, drummer Kevin Hall and Adam Pryor on Hammond Organ.

You’ll probably end up spending a bit more than the typical show at the Saxon Pub, around $30 per person, but each show goes directly to supporting the artists that made it.

“Part of the mission was to advocate for fair wages for musicians and to help musicians understand their economic value,” Monfre said. “Now I can afford to pay musicians a modest guarantee and we call that the Fair Play approach to live music.”

Monfre moved to Austin as a young adult with the intention of “conquering the music industry” in 1981, which he told Austonia he did not do but did meet “a lot of interesting people.” He left Austin to tour for a few years, then moved to Milwaukee, where he continued to play music.

After returning to Austin in 2006, Monfre discovered some musicians were playing shows for free.

“I'm playing in Chicago and Michigan and hardcore blues places, and we don't play for free,” Monfre said. “So I actually quit for 10 years. There is no reason to play for free whatsoever if you just get the model right.”

Having already tried to conquer the music industry once, Monfre took a business-forward approach the second time. The model also caters to what he believes is an underserved group: working professionals who want to meet like-minded individuals but also be home by 9 p.m.

Chief Technology Officer for Economic Transformation Technologies David Smith, who has been coming to other Monfre shows since they started in 2016, said he enjoys the improvisational nature of the shows because it reminds him of old Austin.

“The Stories from the Road get back to the root of what music is: the fact that you can sit and jam, make music with musicians because they understand music, and that's the soul of Austin,” Smith said. “It really is a celebration of music.”

Monfre said the informality is what makes his shows so popular—you’ll hear the musicians ask the key for a song, take a request from the crowd, make a lighthearted jab at one another or create a song from scratch.

“They want to see the sausage being made, it's really funny I would have never thought it,” Monfre said.

Price (right) said he was happy the show ended early so he could make it home to Lampasas. (Laura Figi/Austonia)

“I am knocked out. It just really didn't get any better than what we just had—this band was so good, the crowd was so good,” Price said. “That's what Austin in the ‘60s and ‘70s was all about, just everybody throwing it together.”

Stories from the Road is returning to The Saxon Pub stage on Dec. 18, with a completely new group of musicians. The show, like always, will start at 6 p.m.

Источник: https://austonia.com/vista-partners-step-down

Who is Robert F. Smith?

Robert Frederick Smith is the co-founder of SaaS industry-focused private equity firm Vista Equity Partners. According to Forbes, he has a net worth of roughly $5 billion, making him the richest Black man in the United States.

Smith is a self-made billionaire who grew up in a primarily Black, middle class neighborhood in Denver, CO, per the New York Times, citing him as an “ambitious” individual from an early age. After graduating from Cornell, where he majored in chemical engineering, Smith worked at consumer goods giant Kraft, and later received his masters in business administration from Columbia. He began advising companies such as Apple Inc. (AAPL), and Microsoft Corp. (MSFT) while at Goldman Sachs.

The Morehouse Pledge

Mr. Smith made a surprise announcement during his commencement speech at Morehouse College this weekend, pledging to pay off the roughly 400 graduates’ debt. Morehouse President David A Thomas told CNN on Monday that the figure will likely be in the tens of millions of dollars.

While Smith’s pledge shocked the crowd, including school administrators, it wasn’t out of character for the private equity manager. Smith has recently taken more a public role, speaking at the World Economic Forum in Davos, and making sizable charitable contributions. Alongside Buffett and the Gates, Smith has signed the Giving Pledge, promising to give away half of his fortune.

In January, Smith donated $1.5 million to Morehouse to fund student scholarships and build a new park on campus. In 2016, he pledged $50 million to Cornell, to support engineering programs, as well as Black and female engineering students.

Behind Smith’s Fortune

Vista, which manages about $46 billion in assets, per its website, has reaped massive profits by buying and selling software companies. While the privately held company does not publicly report its results, it is widely known to be one of the top performing PE firms in America, with annualized returns over 20% since launching in 2000, per the NYT.

As the bulk of investors focus consumer-facing tech companies, Smith and his partner Brian Sheth have profited off of the lesser-hyped enterprise software space, wherein a transition to the cloud has revolutionized the industry and brought forth many new high growth players.

Smith was named chair of Carnegie Hall in New York City in 2016.

Источник: https://www.investopedia.com/robert-f-smith-is-a-billionarie-investor-and-philanthropist-4687551

Black billionaire Robert F. Smith surprised the Morehouse College 2019 graduating class when he announced plans to pay off the student loans of the 400 graduates at the all-male historically Black college.

Reports indicate that the announcement came as a surprise when Smith was making his commencement speech shocking students and college administrators. Smith richest robert f smith immediately thrust into the spotlight with headlines about who he is and his wealth.

He’s the nation’s wealthiest African American and the 163rd richest person in America

Smith has a reported net worth of $5 billion richest robert f smith him the 163rd richest person in the United States and the richest Black person in America. In case you were wondering, he’s richer than Oprah Winfrey, who has a net worth of $2.6 billion, and Michael Jordan, who has a net worth of $1.9 billion. Smith’s wealth also surpasses Donald Trump’s who’s net worth is around $3 billion.

He’s from Denver, Colorado

Smith was born December 1, 1962 in Denver, Colorado. His parents were Ph.D. holding educators. When he was an infant, his mother carried him during the March on Washington where Dr. Martin Luther King made his “I Have a Dream Speech.”

He a businessman and investor

Smith is the founder, chairman and CEO of private equity firm Vista Equity Partners. His firm focuses on financing and forwarding software pinnbank com login technology-enabled startup businesses, as well as passive equity investments. Smith founded the company in 2000 and has offices in Austin, Chicago and San Francisco.

He was a chemical engineer holding patents and an investment banker

Prior to starting his own company, Smith worked for Air Products & Richest robert f smith, Goodyear Tire and Rubber Company and Kraft General Foods as a chemical engineer. He earned two United States and two European patents while working for the companies. He also worked for Goldman Sachs in technology investment banking.

He’s an Alpha

Smith is a member of Alpha Phi Alpha Fraternity, Inc., the first African-American, intercollegiate Greek-lettered fraternity. He was initiated into the fraternity in 1982 at his alma mater Cornell University where Alpha Phi Alpha was founded.

He’s a well-known philanthropist

Giving to Morehouse College students is just one of Smith’s many philanthropic acts. He’s also donated funds towards prostate cancer treatment for Black men and for breast cancer research for Black women. In 2018, Smith donated $1 million to the Cultural Performance Center at the Denny Farrell Riverbank State Park in Harlem. He is the first African American to serve as board chairman of Carnegie Hall.

He has several homes

Like most wealthy people, Smith owns several homes in Austin, Malibu and New York City.

He’s married and the father of five children

Smith is currently married to healthy living advocate Hope Dworaczyk. The couple wed in 2015 and have two children together. He was previously married to Suzanne McFayden Smith with whom he has three children.

He enjoys fishing

Reports indicate that Smith partakes in fly fishing in his spare time.

Источник: https://amsterdamnews.com/news/2019/05/20/robert-smith-morehouse/

Morehouse College shows great education doesn't begin and end with Harvard


Ricky L. Jones 

Local musicians tended to be underpaid before COVID-19 sent the music industry reeling, but the fallout from the pandemic exasperated the existing problems. Musician and marketer Monfre knows—he’s been behind that shaking tip jar, trying to turn a profit while doing what he loves. He’s tackling the problem with a unique brand of live shows, which go against the grain, mix business with pleasure and help bring home the bacon.

The shows, called Stories from the Road, are an informal storytelling jam session at Richest robert f smith Saxon Pub that encourages interaction between the artist and audience.

After a brief hiatus due to ongoing woes of the pandemic Stories from the Road came back to The Saxon Pub on Saturday. It was the first of 23 consecutive shows that didn’t sell out, which Monfre attributes to the break of not having shows.

“We called it Stories from the Road—not a band, an experience,” Monfre said. “We're not going to rehearse, we're not going to have a list, we're not going to prepare, every show is a one-off and you will never see it again.”

His shows start early at 6 p.m., with a rotating group of musicians playing blues or Americana who need not rehearse. This time it featured Mark "Kaz" Kazanoff on saxophone and harmonica, bassist Mark Epstein, drummer Kevin Hall and Adam Pryor on Hammond Organ.

You’ll probably end up spending a bit more than the typical show at the Saxon Pub, around $30 per person, but each show goes directly to supporting the artists that made it.

“Part of the mission was to advocate for fair wages for musicians and to help musicians understand their economic value,” Monfre said. “Now I can afford to pay musicians a modest guarantee and we call that the Fair Play approach to live music.”

Monfre moved to Austin as a young adult with the intention of “conquering the music industry” in 1981, which he told Austonia he did not do but did meet “a lot of interesting people.” He left Austin to tour for a few years, then moved to Milwaukee, where he continued to play music.

After returning to Austin in 2006, Monfre discovered some musicians were playing shows for free.

“I'm playing in Chicago and Michigan and hardcore blues regions bank itreasury login, and we don't play for free,” Monfre said. “So I actually quit for 10 years. There is no reason to play for free whatsoever if you just get the model right.”

Having already tried to conquer the music industry once, Monfre took a business-forward approach the second time. The model also caters to what he believes is an underserved group: working professionals who want to meet like-minded individuals but also be home by 9 p.m.

Chief Technology Officer for Economic Transformation Technologies David Smith, who has been coming to other Monfre shows since they started in 2016, said he enjoys the improvisational nature of the shows because it reminds him of old Austin.

“The Stories from the Road get back to the root of what music is: the fact that you can sit and jam, make music with musicians because they understand music, and that's the soul of Austin,” Smith richest robert f smith. “It really is a celebration of music.”

Monfre said the informality is what makes his shows so popular—you’ll hear the musicians ask the key for a song, take a request from the crowd, make a lighthearted jab at one another or create a song from scratch.

“They want to see the sausage being made, it's really funny I would have never thought it,” Monfre said.

Price (right) said he was happy the show ended early so he could make it home to Lampasas. (Laura Figi/Austonia)

“I am knocked out. It just really didn't get any better than what we just had—this band was so good, the crowd was so good,” Price said. “That's what Austin in the ‘60s and ‘70s was all about, just everybody throwing it together.”

Stories from the Road richest robert f smith returning to The Saxon Pub stage on Dec. 18, with a completely new group of musicians. The show, like always, will start at 6 p.m.

Источник: https://austonia.com/vista-partners-step-down

Meet the Richest Black Billionaire in America, a Tech Investor Who Just Paid Off Student Loan Richest robert f smith for an Entire Graduation Class

Robert F. Smith, the richest black billionaire in America, made it an extra-happy graduation day for the roughly 400 students who just received their degrees from Morehouse College. While giving the commencement address on Sunday, Smith pledged an estimated $40 million to pay off the student loan debt of every Class of 2019 Morehouse College graduate.

Robert F. Richest robert f smith is a former Goldman Sachs executive, and the founder and CEO of the software investment firm Vista Equity Partners. Prior to receiving an honorary doctorate and giving the 2019 commencement speech over the weekend, Smith had agreed to donate $1.5 million to Morehouse College, a historically black institution in Atlanta where the cost of tuition and fees averages about $48,000 a year.

But Morehouse students and administrators say they had no idea that Smith would announce in his speech that he was paying off the student loan debt of every graduate.

"This is my class, 2019, and my family is making a grant to eliminate their student loans," Smith said, as the crowd of 7,500 attendees burst into cheers.

All that Smith asked of students in exchange is that they find some way to repay the gift, by way of good deeds for others. “This is my class,” Smith said, “and I know my class will pay this forward.”

Here's more of what we know about Robert F. Smith, including details about his career, net worth, and philanthropy.

Who Is Robert F. Smith, the Richest African-American on Earth?

Robert F. Smith's net worth is currently estimated at $5 billion, according to Forbes.

Of the 2,153 people on the Forbes' 2019 list of the world's billionaires, 13 were black. The two richest black billionaires, Aliko Dangote and Mike Adenuga, are both from Nigeria, with net worths of $10.9 billion and $9.1 billion, respectively. Robert F. Smith comes next on the list at $5 billion, which is good enough richest robert f smith make him the richest African-American and the world's third-richest black billionaire overall. (Oprah Winfrey and Michael Jordan are further down on the list, with net worths estimated at $2.5 billion and $1.9 billion, respectively.)

Robert F. Smith, 56, was born and raised in Denver, Colorado. He earned a chemical engineering degree from Cornell University in 1985, and he worked as an engineer for companies such as Kraft and Goodyear Tire.

Smith received his M.B.A. from the Columbia University Business School in 1994, and worked in the mergers and acquisition department of Goldman Sachs through 2000. He focused in tech while at Goldman Sachs, and advised on $50 billion worth of investments with companies like Apple, Microsoft, and eBay.

In 2000 Smith founded Vista Equity Partners, a private equity firm that invests in software and tech. Vista currently oversees a portfolio of four dozen software companies that collectively employ more than 60,000 workers.

Forbes reported in 2015 that Vista Equity Partners routinely boasted 30% annual returns from its investments. Smith made the "Forbes 400" for the first time that year, with a net worth of $2.5 billion, ranking him No. 269 on the list of richest Americans, as well as the second-richest African-American (after only Oprah Winfrey). Robert F. Smith nudged Oprah out of the top spot in 2018, when Forbes estimated his net worth at $4.4 billion and named him as the nation's richest African American.

Smith has five children, including three from his first marriage, to Suzanne McFayden. In 2015, after getting divorced, Robert F. Smith married Hope Dworaczyk, the 2010 Playboy Playmate of the Year, in a luxurious ceremony held in a resort along the Amalfi Coast of Italy. John Legend and Seal were among the performers.

Hope and Robert F. Smith purchased a $59 million penthouse in the Chelsea neighborhood of Manhattan in 2018. The apartment covers two floors has 10,000 square feet of living space, including six bedrooms, seven bathrooms, and a private rooftop terrace with a pool.

The Smiths also own an 11,622-square-foot mansion in Malibu, California, which they bought in 2015 from “Real Housewives of Beverly Hills” star Yolanda Hadid for roughly $20 million. The home in Malibu is currently being rented by another reality TV star, Kylie Jenner.

Robert F. Smith: Giving Pledge and Other Philanthropy

Smith was the first African American to sign the Giving Pledge, a foundation and movement created by Warren Buffett and Bill and Melinda Gates to encourage billionaires to give away their fortunes to help solve the world's problems.

"My path was paved by my parents, grandparents and generations of African-Americans whose names I will never know," Smith explained when announcing his commitment to the Giving Pledge in 2017. "Their struggles, their courage, and their progress allowed me to strive and achieve. My story would only be possible in America, and it is incumbent on all of us to pay this inheritance forward."

Smith had been renowned for his philanthropy and generosity long before promising to eliminate the student debt for 2019 Morehouse College graduates. Among his biggest donations have been $50 million to Cornell University, for the creation of the Robert F. Smith School of Chemical and Biomolecular Engineering, and $20 million to the National Museum of African American History and Culture in Washington, D.C.

Smith is a huge music fan — he named one of his sons Hendrix and owns a piano that belonged to Elton John — and became the chairman of Carnegie Hall in New York City in 2016. Smith is simultaneously the chairman of the Robert F. Kennedy Human Rights group, and serves as a trustee for the Boys and Girls Club of San Francisco.

Another of Smith's passions is Lincoln Hills Cares, a nonprofit he cofounded to provide outdoor experiences to young people in his native Colorado. The historic Lincoln Hills ranch was founded as an African-American retreat in 1922. Smith's parents went on vacation there every summer, and he purchased the property a few years ago.

"Last summer, we had over 5,400 inner city kids at our ranch. We had about 200-300 wounded veterans who fly fish," at Lincoln Hills, Smith told the Denver Post in 2017. "We have a program with Craig Hospital for quadriplegics where they can actually fish with blow tubes. And we have an inner city program for girls for equestrian riding."

2019 Morehouse College Graduates Ecstatic After Smith's Gift

Robert F. Smith's pledge to pay off this year's Morehouse College graduates' student loan debt left the commencement crowd overwhelmed with gratitude.

“If I could do a backflip, I would. I am deeply ecstatic,” a Morehouse business administration graduate named Elijah Dormeus told the Atlanta Journal-Constitution.

“I didn’t believe it. I kept asking people for reassurance that he just said what he said,” Carney Burns, boko haram suspected financier executed son John just graduated from Morehouse College with what he had expected would be $35,000 in student loan debt, said to the Wall Street Journal. “A Morehouse education, you can’t put a price on it, but the bills are real.”

Another 2019 Morehouse graduate, 21-year-old Dwytt Lewis of Compton, California, said that he felt a huge "weight lifted off your shoulders" after hearing that his $150,000 in debt was being paid off by Smith and his family. "It's just an overwhelming feeling, in a good way," Richest robert f smith said to CBS News. "I'm so motivated to go change the world."

Источник: https://money.com/robert-f-smith-net-worth-billionaire-student-loan-debt-morehouse/
  Opinion contributor

In a world filled with overwhelming negativity, great and heartwarming news came out of Atlanta last weekend. After previously pledging $1.5 million to the school, billionaire Robert F. Smith, reportedly the richest black man in America, went off-script during his commencement speech at my alma mater, Morehouse College.

He claimed the Class of 2019 as “my class” and announced he was creating a grant that would pay off the student loan debt of every graduate walking across the stage that day. Wow!

The story quickly went viral and had multiple positive effects. It added to the ongoing dialogue about the growing weight of student loan debt and increasing inaccessibility of higher education in America. It also illustrated that economic elites, black, white and other, can do more than exploit or engage in “empty philanthropy.” They really can make a difference on individual and collective levels.

3 fast facts: Robert F. Smith gift to Morehouse highlights burden of student loan debt

Importantly, this story richest robert f smith many of us to Robert F. Smith. He is not an athlete, musician or comedian. He provides a different model of black male success than what is often pushed in the mainstream. Maybe most importantly, Smith’s fabulous idea introduced Morehouse to a good percentage of Americans who think great collegiate education begins and ends with Harvard, Yale and the like. It doesn’t.

If you didn’t know, Morehouse is the elite, historically black, all-male college founded in 1867 that has given us a host of transformative American icons, including Martin Luther King, Jr. (Class of 1948). If you have any sense of history, like Robert F. Smith, you know Morehouse has given the world so much more.

Often accused of arrogance, Morehouse Men and the institution have good reason to be proud of the long line of men who have walked the school’s halls and went on to change the course of local, national and global history. Morehouse produced Atlanta’s first trailblazing black mayor Maynard Jackson, civil rights icon Julian Bond, filmmaker Spike Lee, U.S. Surgeon General David Satcher, actor Samuel L. Jackson, Olympian Edwin Moses, 1969 World Series MVP Donn Clendenon, businessman and Morehouse President Walter Massey.

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Well-known or not, Morehouse’s more recent graduates are laboring as well. Dr. Eddie Glaude Jr. from the Class of 1989 often seems the most richest robert f smith and intelligent voice on MSNBC. My friends and fellow professors Jeffery O.G. Ogbar, David Canton, Walter Rucker, Jamal Ratchford and many others are impacting colleges and universities from Georgia to Connecticut to Colorado and beyond. Sankofa United Church of Christ Pastor Derrick Rice is a conscious, prophetic religious leader cut from the cloth of King in Atlanta. My classmate Olu Stevens is one of the few black judges in Kentucky. Our class president, the Rev. Dr. Otis Moss III, succeeded the legendary Jeremiah Wright as pastor of Chicago’s Trinity United Church of Christ. The list goes on and on.   

My own Morehouse story was personally transformative. I transferred there from the U.S. Naval Academy as I was coming into manhood in 1990. My raucous time at the Academy nearly ruined my psyche, sense of self and college career. I left after a period of epic revolutionary lawlessness that is still legendary in certain Annapolis circles. The school was bad; I was worse. But, that is another story.

I still remember sitting down with Morehouse’s dean of admissions as I sought entrance. He asked, “So, you’re the young man who caused all that trouble at the Naval Academy.” I answered sheepishly and shamefully, "Yes, sir — I am.” To my surprise, he stood and reached for my hand, “Son, I don’t know any self-respecting black man who wouldn’t cause trouble in a place like that. Welcome to Morehouse. Welcome home.” Navy gave up on me. Morehouse didn’t. God, I love that place. It changed my life — as it has so many others.

When Robert F. Smith told newly minted Morehouse Men he expected them to “pay it (his gift) forward,” he wasn’t just talking about money. It’s bigger than that. He was encouraging them to do what Morehouse has always encouraged its graduates to do — serve humanity and change the world. As the great theologian Howard Thurman (Class of 1923) said, “Over the heads of her students, Morehouse holds a crown that she challenges them to grow tall enough to wear.” Every Morehouse Man aspires to this and make Dear Old Morehouse proud. Robert F. Smith is helping a few along the way.

Make no mistake, Brother Smith blessed Morehouse College. Love to him. Also, don’t you forget, for more than 150 years, Morehouse College has blessed the world. May God continue to bless them both.

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Ricky L. Jones is chair of Pan-African Studies at the University of Louisville. His next book, co-authored with Marc Murphy, is titled, “Colin, Confederates and Con-Artists: The American Tragedy of Erasing History.” He is a member of Morehouse College’s Class of 1992. His column appears bi-weekly in the Courier-Journal. Visit him at www.rickyljones.com.

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Источник: https://www.courier-journal.com/story/opinion/2019/05/20/morehouse-college-has-blessed-the-world-for-more-150-years/3744361002/

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