Robert F Smith Entrepreneur Biography

Hello out there to all my aspiring millionaires. Welcome back to the Exlani channel, where today we're going to be continuing our series on the world's top billionaires. Creating wealth to some people is having more than what you need, but here at Exlani we start with a beginner's mindset, brain bites to the affluent, knowledge for the aspiring. Don't forget to subscribe and hit that notification bell. In today's episode, we're going to be taking a look at the life of the American billionaire investor Robert F. Smith, the world's wealthiest African-American, according to a 2018 story by Forbes. Hailing from Denver, Colorado, Smith was born on December 1, 1962, to two Ph.D. school teachers. Though he was still an infant, he famously attended Dr. Martin Luther King Jr.'s I Have a Dream speech during the March on Washington in August 1963. While in high school, he demonstrated his gumption and drive for excellence when he persistently pursued an internship at Bell Labs, even though they told him it was a position intended only for college students. In a stroke of both fate and determination, Smith earned the position when a student from MIT did not show up. It was during his internship that he developed a reliability test for semiconductors. He would go on to study at Cornell University, where he became a brother of the fraternity Alpha Phi Alpha. After graduating from Cornell, he worked at Air Products and Chemicals, Goodyear Tire, and Rubber Company, and as a chemical engineer for Kraft General Foods, during which he earned two U.S. and European patents. Deciding to continue his education, Robert started an MBA program at Columbia's Business School, where he earned a degree in finance and marketing with honors. Then, from 1994 to 2000, he was a member of the Golden Saks team for technology investment banking. It was during this time that he oversaw mergers ranging over $50 billion with companies like Apple, Microsoft, Texas Instruments, and more. However, it was after this that he founded Vista Equity Partners, the venture where most of his wealth was formed. As of 2019, the private equity and venture capital firm have over $46 billion in cumulative capital commitments. Amazingly, they own over 50 software companies and employ more than 60,000 people around the globe, making it the fourth-largest enterprise software company in existence. In 2017, the company was reported to have over $30 billion under its management wing. Smith married his first wife, fellow Cornell graduate Susan McFadden Smith, in 1988. The couple was together for 22 years before they separated in 2010 and finally divorced in 2014. A year later, in July 2015, Smith would marry former Playboy playmate Hope Dworachik. He is the father of five children, three with his first wife and two with Hope. The couple owns homes in Austin, Texas, Malibu, California, and a $59 million home in New York City. Today, he is one of the world's leading philanthropists, being a board chairman of Carnegie Hall as well as investing in various charities such as UNICEF, National Park Foundation, Susan G. Komen, and the Global Wildlife Conservation, among others. During a ceremony in which he was being awarded an honorary doctorate from Morehouse College, a traditionally African-American school, he announced during his commencement address that he was paying off the entire student loan debt from their 2019 graduating class. It's a pleasure to present to you our commencement speaker for the morning, Dr. Robert F. Smith, officially a Morehouse man. On behalf of the eight generations of my family who have been in this country, we're going to put a little fuel in your bus. Now, I've got the alumni over there, and this is a challenge to you, alumni. This is my class, 2019, and my family is making a grant to eliminate their student loans. Robert F. Smith's desire to achieve greatness and persistence in the face of adversity is an incredibly valuable lesson for any person aspiring toward success. Despite humble middle-class beginnings, he worked tirelessly to achieve his goals. He is a prime role model for all of those hoping to achieve wealth and happiness in life. That wraps up this episode in our series of the World's Billionaires. If you liked this video, be sure to give us a like and subscribe to see similar content in the future. Exelani is dedicated to education and inspiration for all those on the journey towards financial freedom. We offer brain bites to affluent, knowledge for the aspiring. See you next time!