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Robert Smith, Slayer of Student Debt at Morehouse College | Bloomberg Businessweek

In May, he pledged to pay off $34 million of loans for its graduating class. His commencement address in May offered the usual inspirational platitudes and advice to serve the common good. But then Smith—whose personal worth is about $6 billion, according to Bloomberg data, which makes him the wealthiest black American—followed up with something no one expected. “On behalf of eight generations of my family that have been in this country, we’re gonna put a little fuel in your bus,” he said. “This is the challenge to you, alumni. This is my class—2019. And my family is making a […]

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Could black philanthropy help solve the black student debt crisis? | The Conversation

Mako Fitts Ward, The Conversation Left to Right: Jay-Z, Robert F. Smith and LeBron James. Featured Image billionaire Robert E. Smith decided to pay off the student loans of the graduating class of 2019 at Morehouse College, he suggested that others follow his lead. “Let’s make sure every class has the same opportunity going forward, because we are enough to take care of our own community,” Smith declared in his commencement speech. But is there even enough black private wealth in the United States to pay off all black student loan debt? As a scholar in social transformation and African […]

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Now the Richest Black American, He’s Also One of America’s Biggest Philanthropists | Inside Philanthropy

Ade Adeniji, Inside Philanthropy most of my (still relatively) young writer’s lifetime, Oprah Winfrey loomed large as the pinnacle of black American financial success. The 64-year-old Oprah recently denied presidential bid rumors on the heels of a rousing speech, and stars in the new Disney film A Wrinkle in Time, opening this week. Oprah has been a billionaire for years now, thanks to an extraordinary career in media and entertainment. Other entertainers and athletes like Michael Jordan and Jay Z, to name a couple, are also in the mix of mega-wealthy African-Americans. In the last few years, I’ve kept an […]

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Black Billionaire Robert F. Smith, Just Made Another $3 Billion with Sell to Adobe | Black Enterprise Vista Equity, the private equity firm launched by black billionaire and engineer Robert F. Smith, announced it is selling a cloud-service company it purchased in 2016, Marketo, to Adobe, for $4.7 billion.

Vista Equity, the private equity firm launched by black billionaire and engineer Robert F. Smith, announced it is selling a cloud-service company it purchased in 2016, Marketo, to Adobe, for $4.7 billion.

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