Story and History of Robert F. Smith
Robert F. Smith was born December 1, 1962. He’s an American businessman, investor, chemical engineer and philanthropist. He’s also the founder of the private equity firm Vista Equity Partners, a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco with more than $46 billion in cumulative capital commitments.
According to Wikipedia, Smith is listed as the 163rd richest American by Forbes magazine (2018) and 1 of 480 billionaires in the world, with a net worth of 4.4 Billion dollars.
Robert F. Smith was born in Colorado, his parents, Dr. William Robert Smith and Dr. Sylvia Myma Smith were both schoolteachers and 3rd generation Coloradans. It’s very appropriate to mention here that Smith’s mother carried him in her womb while Marching on Washington, where Martin Luther King delivered the “I Have a Dream Speech”.
Smith is no stranger to philanthropy, he’s the board chairman at Carnegie Hall, founding director of the Fund II Foundation. In 2018, Smith was the biggest individual donor at the City of Hope Gala, making funds available for prostate cancer treatment for black men and breast cancer research for black women. He was also named as one of the “philanthropy 50” by the chronical of Philanthropy in 2017.
What is Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets. In a capitalist market economy, decision-making and investment are determined by every owner of wealth, property or production ability in financial and capital markets, whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
Capitalism, sometimes vilified as greed is a double-edged sword; as are human beings. Capitalism is not the problem; it is capitalists without a conscious that are the problem. It is no different than a doctor that takes an oath to do all he can to save lives, but if his character is flawed then he at some point will not abide by his oath. Do we vilify all doctors then? America is the most advanced nation in the world because of Free Enterprise and Capitalism. These are the bedrock principles of our nation that have helped its citizens live out their imaginations to create and improve the quality of life for humanity.
Last week we witnessed the creative force of capitalism. We witnessed capitalism as a creator, a healer and a sustainer. Robert F. Smith delivered goodness and crushed the “crabs in a barrel” myth falsely assigned to the black masses.
Black Billionaire Wipes Away Morehouse Student Debt
“We are enough to ensure we have all the opportunities of the American dream.
And we will show it to each other through our actions, and through our words and through our deeds. So, class of 2019, may the sun always shine upon you. May the wind always be at your back, and may God always hold you in the cradle of her hands.”
It’s very rare to hear someone refer to God as
“Her”, but not as rare as a black capitalist who could single handedly wipe out the college debt of a whole graduating class.
These were the words spoken by Robert F. Smith, a black billionaire, who received an honorary degree from Morehouse College and delivered the stunning news to the class of 2019 in a commencement address last Friday.
Who among us could hear of such a deed and not wonder how Robert F. Smith managed to amass his great fortune? What was the catalyst that fueled his inclinations and shaped the events that could lead to this great circumstance? There are several places we could start; starting with his ideas, but underlining his ideas, no one could ignore the vehicle called CAPITALISM.
The Affect of Capitalism on Future Generations
We can only imagine what this gesture means to Morehouse and the class of 2019. I’m sure the students were stunned after hearing the news. There was one condition, however, the students had to promise to pay Smith’s gesture forward to future generations.
Is this the beginning of a Black renaissance? What effect will this gesture have on the lives of future generations? Will it be compounded by others with extraordinary means? Is this a titanic shift for the future of Black civilization?
Am I over processing this incredible act of philanthropy or can it break 400 years of relentless programming and restore the power of aggregate Black contribution to the world?
I read a tweet from Riian G. Simpson that said, “if you can lead a gang, you can run a company. If you can write a rap, you can write a book. If you can film a fight, you can film a movie. If you can move, you can own a trucking company. Don’t just take over the block, take over the world! Stop selling yourself short!
Could the infusion of Capitalism into our black youth psyche give birth to this child?
Only God, in Her infinite wisdom, can know.
