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, he committed to paying the student loans of the nearly 400 students of the graduating class, a gift that totaled approximately $34 million dollars. Yet, Smith hoped to do more than pay the student loan debt of Morehouse students. He strove to give back to more Historically Black Universities and Colleges (HBCUs). He envisioned a program that would act as a catalyst for freedom in professional and life choices for HBCU students. Out of that vision, Student Freedom Initiative was born.

In the fall semester of 2021, Student Freedom Initiative will launch at Prairie View A&M University and eight other HBCUs. Rising juniors and seniors, as determined by credit hours, at Prairie View A&M University majoring in a STEM field will have the option of partaking in an income-contingent education finance alternative, which is meant to compete with the current high cost, fixed payment, debt agreements. All university students will have access to student support resources, including tutoring and mentoring, as part of the initiative.

Dr. Ruth J. Simmons, university President, was very optimistic of Student Freedom Initiative. “The 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 Initiative and the commitment it represents from Robert F. Smith and others is the boost needed to encourage them to persist in their goals.”

However, Smith is not just the visionary of Student Freedom Initiative. He is also one of the initial donors. His personal gift of $50 million helped to launch Student Freedom Initiative. It came soon after the initial gift of $50 million from Fund II Foundation, of which Smith is founding director and President.

Headshot of philanthropist and entrepreneur Robert F. Smith who operates as Chairman and CEO of Vista Equity Partners

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 Student Freedom Initiative. 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.

The trip was coordinated by Emelda Douglas, a nonprofit management and fundraising consultant for Fund II Foundation, and sponsored by Smith. Smith was also responsible for recruiting the Prairie View A&M University students as part of a mission to cultivate the next generation of thought leaders.

All involved traveled from Austin to Washington D.C., where they received a police escort. Their trip included trips to famous memorials, museums and monuments. A news crew accompanied the group for the entirety of the trip to document their adventure.

More About Robert F. Smith

Education has also been a cornerstone of Smith’s life. Smith was born to two educators in Denver, Colorado, where he learned early on that a quality education not only led to achievement in life but also lifted the human spirit. While in high school, Smith completed an internship at Bell Labs, an internship often granted to college students. After graduation, he attended Cornell University, earning a degree in chemical engineering, and then acquired positions at  Goodyear Tire and Rubber and Kraft General Foods. Years later, he continued his education at Columbia University. He graduated with an MBA in 1994 and joined Goldman Sachs.

At Goldman Sach, Smith combined his love of technology with investment banking and worked on deals for Apple, Microsoft and other notable technology companies. In 2000, he started his own investment firm, Vista Equity Partners (Vista), of which he is Chairman and CEO. Vista proudly partners with enterprise software, data and technology-enabled companies to help them achieve maximum growth.

Continued Philanthropy and Awards

Smith has committed much of his life to furthering opportunities for African American students and members of underrepresented groups. In fact, envisioning Student Freedom Initiative was just one of his philanthropic efforts intended to uplift the African American community. Throughout his lifetime, Smith has supported such organizations as:

  • The United Negro College Fund
  • InternX
  • National Museum of African American History and Culture
  • Lincoln Hills Cares
  • National Parks Foundation
  • Sphinx Organization
  • National Society of Black Certified Public Accountants
  • Prostate Cancer Foundation

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.