Who Is Robert F. Smith, the Man Paying Off Morehouse Graduates’ Loans?

Robert F. Smith is the richest black man in America, who until just a few years ago was practically unknown.CreditCreditChester Higgins Jr./The New York Times

By David Gelles

• Robert F. Smith was giving the commencement address to the graduating class of Morehouse College when he made a surprise announcement: He would be paying off the student loans of the roughly 400 graduates.
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• It was just the latest substantial gesture from Mr. Smith, the richest black man in America, who until just a few years ago was practically unknown.
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• Here’s what you need to know about him:■ Mr. Smith has amassed a fortune that Forbes estimates to be worth $5 billion by founding Vista Equity Partners, a private equity firm that focuses on buying and selling software firms.
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• Vista has about $46 billion in assets under management, according to Forbes. The company is privately held and does not publicly report its results, but it is believed to be one of the best-performing firms in the country, with annualized returns of more than 20 percent since its founding.