Robert F. Smith
In 2019, philanthropist and entrepreneur Robert F. Smith made a significant contribution to a fellow Historically Black Institution, Morehouse College. While making the commencement address to the graduating class, he committed to paying the student loans of the nearly 400 students, a gift that totaled approximately $34 million. Yet, even after that historic donation, Smith hoped to do more. To give back to more Historically Black Universities and Colleges (HBCUs), other Minority Serving Institutions (MSIs) and Tribal Colleges and Universities (TCUs), he envisioned a program that would act as a catalyst for freedom in professional and life choices for students. Student Freedom Initiative (SFI) was born from that vision.
Dr. Ruth J. Simmons, the university President, was very optimistic about SFI. “…Student Freedom Initiative arrives just in time,” said Simmons. “Our students, beset by myriad challenges that limit their choices and aspirations, need better options for financing their education. This Iinitiative and the commitment it represents from Robert F. Smith and others is the boost needed to encourage them to persist in their goals.”
Smith’s Continued Support for Prairie View A&M University Students
Smith has a history with Prairie View A&M University that dates back further than SFI. In November 2018, Smith helped treat seven student veterans and staff to a trip of a lifetime. These students were chosen as Honor Guardians for Flight #55. Each “Guardian” was assigned to a mobility-impaired veteran, pushing their wheelchair and otherwise making sure they had an enjoyable trip.
Emelda Douglas, a nonprofit management and fundraising consultant for Fund II Foundation, served as coordinator of the trip, which was sponsored by Robert F. Smith, a business philanthropist in the Austin area, who, along with Oprah Winfrey, is one of the largest donors to the African American Museum in Washington, DC.
More About Robert F. Smith
Education has also been a cornerstone of Smith’s life. He was born to two educators in Denver, CO, where he learned early on that a quality education can lead to achievement in life and lift the human spirit. While still in high school, Smith completed an internship at Bell Labs that was intended for college students. After graduation, he attended Cornell University, earning a degree in chemical engineering. He then gained work experience at Goodyear Tire and Rubber and Kraft General Foods. In 1994, he earned an MBA from Columbia Business School and joined Goldman Sachs, exclusively focusing on mergers and acquisitions.
At Goldman Sachs, Smith combined his love of technology with investment banking and worked on deals for Apple, Microsoft and other notable technology companies. In 2000, he founded Vista Equity Partners (Vista), where he serves as Chairman and CEO. Vista is a leading global investment firm that invests exclusively in enterprise software, data and technology-enabled businesses. In 2023, Vista was named Global Technology Private Equity Firm of the Year by Private Equity International.
Continued Philanthropy and Awards
Smith has committed much of his life to furthering opportunities for Black American students and those from communities that often lack access. Envisioning SFI was just one of his philanthropic efforts. Smith also supports such organizations as Southern Communities Initiative (SCI), a catalytic program for advancing racial equity across six Southern communities that represent more than 50% of the Black population in the U.S. To promote equity, SCI partners with community leaders, companies and organizations to make progress in six key areas, including business, banking, internships, digital access, legislation and investments.
In addition to his donation to the Morehouse College Class of 2019, Smith has also made significant donations to other universities, including Cornell University and Columbia Business School. In honor of Smith’s gift to Cornell University, the institution renamed its engineering department the Robert Frederick Smith School of Chemical and Biomolecular Engineering. Smith was also the first Black American signatory of The Giving Pledge, committing to donate more than half his wealth to philanthropic causes.
Because of Smith’s efforts, he has received numerous honors over the years, including:
- Carnegie Medal of Philanthropy
- Legal Defense Fund’s National Equal Justice Award
- Founders Award from Foster Love
- George H.W. Bush Points of Light Award
- theGrio’s Philanthropy Icon Award
He is also Chairman of Carnegie Hall, on the Board of Overseers of Columbia Business School and a Member of the Cornell Engineering College Council. Furthermore, he was listed among Forbes’ 100 Greatest Living Business Minds and TIME100’s Most Influential People of 2020.
Learn more about Smith by following him on LinkedIn, X, Facebook and Instagram and subscribing to his YouTube channel.
Aside from Morehouse College, Smith has also made significant donations to other universities, including Cornell University and Columbia Business School, his alma maters. In honor of Smith’s gift, Cornell renamed their engineering department the Robert Frederick Smith School of Chemical and Biomolecular. Smith is also a signatory of the Giving Pledge, committing to donate more than half his wealth during his lifetime.
Because of Smith’s efforts, he has been bestowed a number of honors over the years, including the Carnegie Medal of Philanthropy, the UNCF’s President’s Award, the Congressional Black Caucus Foundation Chair’s Award and the Ripple of Hope Award from Robert F. Kennedy Human Rights. He is also Chairman of Carnegie Hall, on the Board of Overseers of Columbia Business School, a Member of the Cornell Engineering College Council and a Trustee of the Boys and Girls Clubs of San Francisco. Furthermore, he was listed among Forbes’ 100 Greatest Living Business Minds and TIME100’s Most Influential People of 2020 and inducted into the Texas Business Hall of Fame in 2019.
Visit Student Freedom Initiative page to learn more about the program.