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Billionaire Robert F. Smith Donates $50 Million To Assist STEM Students at HBCUs | Black Enterprise

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Billionaire Robert F. Smith Donates $50 Million To Assist STEM Students at HBCUs | Black Enterprise


Robert F. Smith, the chairman and CEO of Vista Equity Partners, is continuing his philanthropic support of Historically Black Colleges and Universities (HBCUs) with a $50 million donation to the Student Freedom Initiative.

The Student Freedom Initiative is a charity that helps students at Minority Serving Institutions circumvent student debt and loans. The initiative offers students an income-contingent alternative to the high cost and high debt of taking out loans. The initiative also offers paid internships as well as studying and tutoring options.


—  Credits

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


—  Related

The National Black Chamber of Commerce (NBCC) was incorporated as The National Black Chamber of Commerce, Inc., in 1993. It is a nonprofitnonpartisannonsectarian organization dedicated to the economic empowerment of African American communities. Additionally, the organization indicates that it represents the views of its members regarding economic and political policy issues; domestically and internationally. It is organized as a 501(c) corporation and has at least 190 chapters within the United States. The NBCC also has international chapters in the BahamasBrazilColombiaGhana and Jamaica. As with all Chambers of Commerce, affiliate branches are committed to carrying out the goals of the main Chamber within their areas.

However, the organization is largely funded by non-African American businesses on behalf of whose interests it often lobbies, such as the fossil fueltelecommunications, and tobacco industries, and has sometimes been accused of being a front group.

The National Black Chamber of Commerce is based in Washington, D.C.

Source – National Black Chamber of Commerce (Updated: 20 June 2020) Wikipedia. Available at, (Accessed: 27 October 2020)