Black Billionaires of 2019

3. Robert F. Smith

Net Worth: $5B

Robert F. Smith is an American Private Equity Investor that has a net worth amounting to $5 billion. He a former Goldman Sachs executive, and founder of private equity firm Vista Equity Partners that focuses exclusively on investing in software companies.

The firm has more than $46 billion in assets and is one of the best-performing private equity firms, posting annualized returns of 22% since inception. 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.

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