{"id":22632,"date":"2021-10-13T03:58:49","date_gmt":"2021-10-13T08:58:49","guid":{"rendered":"https:\/\/myboysay.com\/blog\/?p=22632"},"modified":"2021-10-14T14:31:14","modified_gmt":"2021-10-14T19:31:14","slug":"robert-f-smith-founder-chairman-and-ceo-vista-equity-partners-austin-david-steward-is-the-founder-and-chairman-of-it-provider-world-wide-technology-are-on-the-forbes-list-of-the-400-richest-amer","status":"publish","type":"post","link":"https:\/\/myboysay.com\/blog\/?p=22632","title":{"rendered":"Robert F. Smith Founder, Chairman and CEO Vista Equity Partners, and David Steward, who is the founder and chairman of IT provider World Wide Technology, are on the Forbes List Of The 400 Richest Americans"},"content":{"rendered":"
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Here are the private equity tycoons on the 2021 Forbes 400 list, and Robert F. Smith ranks 5th on the List.<\/h3>\n

(Net worths are as of September 3, 2021)<\/h4>\n
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Blackstone CEO Stephen Schwarzman.<\/p>\n

Roy Rochlin\/Getty Images<\/small><\/p>\n<\/figcaption><\/figure>\n

1. Stephen Schwarzman<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #19<\/h4>\n

Net Worth:<\/strong> $37.4 billion<\/h4>\n

2020 Net Worth: <\/strong>$19.1 billion<\/h4>\n
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2. Leon Black<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #78<\/h4>\n

Net Worth:<\/strong> $9.9 billion<\/h4>\n

2020 Net Worth:<\/strong> $8.7 billion<\/h4>\n
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3. George Roberts<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #88<\/h4>\n

Net Worth:<\/strong> $9 billion<\/h4>\n

2020 Net Worth:<\/strong> $6.6 billion<\/h4>\n
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4. Henry Kravis<\/strong><\/h3>\n

Forbes 400 Rank: <\/strong>#94<\/h4>\n

Net Worth:<\/strong> $8.5 billion<\/h4>\n

2020 Net Worth:<\/strong> $6.4 billion<\/h4>\n
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Vista Equity Partners founder Robert F. Smith.<\/p>\n

Christian K. Lee\/The Washington Post via Getty Images<\/small><\/p>\n<\/figcaption><\/figure>\n

5. Robert F. Smith<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #141<\/h4>\n

Net Worth:<\/strong> $6.7 billion<\/h4>\n

2020 Net Worth:<\/strong> $5.2 billion<\/h4>\n
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5. Michael Kim<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #141<\/h4>\n

Net Worth:<\/strong> $6.7 billion<\/h4>\n

2020 Net Worth: <\/strong>N\/A (New)<\/h4>\n
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7. Orlando Bravo<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #158<\/h4>\n

Net Worth:<\/strong> $6.3 billion<\/h4>\n

2020 Net Worth:<\/strong> $3.7 billion<\/h4>\n
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8. Sam Zell<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #172<\/h4>\n

Net Worth:<\/strong> $6 billion<\/h4>\n

2020 Net Worth:<\/strong> $4.7 billion<\/h4>\n
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\"Milwaukee<\/div>
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Tom Gores, founder of Platinum Equity.<\/p>\n

Leon Halip\/Getty Images<\/small><\/p>\n<\/figcaption><\/figure>\n

9. Tom Gores<\/strong><\/h3>\n

Forbes 400 Rank: <\/strong>#176<\/h4>\n

Net Worth:<\/strong> $5.9 billion<\/h4>\n

2020 Net Worth:<\/strong> $5.7 billion<\/h4>\n
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10. Joshua Harris<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #188<\/h4>\n

Net Worth:<\/strong> $5.7 billion<\/h4>\n

2020 Net Worth:<\/strong> $5.1 billion<\/h4>\n
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11. Scott Shleifer<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #212<\/h4>\n

Net Worth:<\/strong> $5 billion<\/h4>\n

2020 Net Worth: <\/strong>N\/A (New)<\/h4>\n
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12. Marc Rowan<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #229<\/h4>\n

Net Worth:<\/strong> $4.7 billion<\/h4>\n

2020 Net Worth:<\/strong> $4 billion<\/h4>\n
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\"The<\/div>
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Daniel D’Aniello is one of three cofounders of The Carlyle Group.<\/p>\n

Astrid Riecken\/The Washington Post via Getty Images<\/small><\/p>\n<\/figcaption><\/figure>\n

13. Daniel D’Aniello<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #240<\/h4>\n

Net Worth:<\/strong> $4.6 billion<\/h4>\n

2020 Net Worth:<\/strong> $3.4 billion<\/h4>\n
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13. Sami Mnaymneh<\/strong><\/h3>\n

Forbes 400 Rank: <\/strong>#240<\/h4>\n

Net Worth:<\/strong> $4.6 billion<\/h4>\n

2020 Net Worth:<\/strong> $4 billion<\/h4>\n
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13. Tony Tamer<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #240<\/h4>\n

Net Worth:<\/strong> $4.6 billion<\/h4>\n

2020 Net Worth:<\/strong> $4 billion<\/h4>\n
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David Bonderman, chairman and founding partner of private equity giant TPG.<\/p>\n

Horacio Villalobos\/Getty Images<\/small><\/p>\n<\/figcaption><\/figure>\n

16. David Bonderman<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #247<\/h4>\n

Net Worth:<\/strong> $4.5 billion<\/h4>\n

2020 Net Worth:<\/strong> $4 billion<\/h4>\n
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16. Barry Sternlicht<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> # 247<\/h4>\n

Net Worth:<\/strong> $4.5 billion<\/h4>\n

2020 Net Worth:<\/strong> $3.2 billion<\/h4>\n
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18. David Rubenstein<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #261<\/h4>\n

Net Worth:<\/strong> $4.3 billion<\/h4>\n

2020 Net Worth:<\/strong> $3.4 billion<\/h4>\n
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19. William Conway Jr<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #281<\/h4>\n

Net Worth:<\/strong> $4 billion<\/h4>\n

2020 Net Worth:<\/strong> $3 billion<\/h4>\n
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21. Behdad Eghbali<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #340<\/h4>\n

Net Worth:<\/strong> $3.4 billion<\/h4>\n

2020 Net Worth:<\/strong> N\/A (New)<\/h4>\n
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21. Jose E. Feliciano<\/strong><\/h3>\n

Forbes 400 Rank:<\/strong> #340<\/h4>\n

Net Worth:<\/strong> $3.4 billion<\/h4>\n

2020 Net Worth:<\/strong> $2.1 billion<\/h4>\n

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Forbes Presented Their List Of The 400 Richest Americans \u2014 And Two Black Men Made The List<\/h1>\n<\/div>\n
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Forbes has dropped its annual list<\/a> of 400 Richest Americans.<\/strong><\/p>\n

For the fourth year in a row, Jeff Bezos \u2014 the founder of Amazon \u2014 was No. 1 on the list. According to the outlet, he\u2019s worth $201 billion, which is a staggering $22 billion more than where he was last year on the list. Right behind Bezos is America\u2019s favorite problematic dude-bro, Elon Musk,<\/a> who is worth a little over $190 billion. Mark Zuckerberg,<\/a> the man behind Facebook, Instagram and WhatsApp comes in at No. 3 with just under $135 billion in net worth. Bill Gates is No. 4 on the Forbes Richest Americans list, with a slightly lower net worth than Zuckerberg ($134 billion). And rounding out the top five is Larry Page, who recently stepped down as the CEO of Google but still remains a controlling shareholder and board member \u2014 and who has a $123 billion net worth.<\/strong><\/p>\n

Yet, despite the diversity of the richest Americans on the Forbes list in nearly every other way, one group remains largely unrepresented on the list: Black professionals. Specifically,\u00a0zero<\/em> Black women made the list of the Forbes 400 Richest Americans, and only\u00a0two<\/em> Black men made the list.<\/strong><\/p>\n

Let\u2019s take a look at the two Black men who made the list, and how they made their fortunes.<\/strong><\/p>\n<\/div>\n

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141. Robert F. Smith<\/strong><\/h3>\n
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He\u2019s a philanthropist, a billionaire, and a controversial figure. But Robert F. Smith<\/a> is one of two Black men who made the list of Forbes 400 Richest Americans. He founded Vista Equity Partners in 2000. For the past 20-plus years, he\u2019s exclusively invested in software companies. According to Forbes,<\/a> he comes in at No. 141 on the Forbes 400 Richest Americans list, with a net worth of $6.7 billion.<\/strong><\/p>\n

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@RFS_Vista<\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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182. David Steward<\/strong><\/h3>\n
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David Steward is the second Black man on the Forbes 400 Richest Americans list \u2014 and he actually shares his 182nd ranking with five other people (Peter Gassner, Min Kao, Henry Nicholas III, Gary Rollins, and Fred Smith of FedEx). As the founder and chairman of IT provider World Wide Technology, David Steward<\/a> has a net worth of $5.8 billion, according to Forbes.<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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@wwt_inc<\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/article>\n

Black In Business: Celebrating The Legacy Of Black Entrepreneurship<\/strong><\/h1>\n

African-Americans have played a profound role in shaping the U.S. business landscape. Technological innovations like the traffic light, automatic elevator doors and even caller ID all sprung from the minds of creative black luminaries. <\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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To honor their business achievements this Black History Month, Forbes <\/em>spoke to a number of founders, investors, activists, celebrities and experts on the black diaspora. What emerged from these conversation was a rich, complex portrait of black entrepreneurship, one that highlights the black community\u2019s tremendous creativity, as well as a resilience that was born, in part, out of hardship and necessity.<\/strong><\/p>\n

Historically, black-owned companies, like Madam C.J. Walker\u2019s hair-care line and the businesses that formed Tulsa, Oklahoma\u2019s Black Wall Street, were developed in direct response to racial discrimination. \u201cThese segregation patterns then created market opportunities for black entrepreneurs to step in, make money and meet the demands of the black community,\u201d says Mehrsa Baradaran, author of The Color of Money: Black Banks and the Racial Wealth Gap<\/em>. With few work opportunities and high job instability, many black pioneers took matters into their own hands, building small enterprises that served and employed fellow African-Americans.<\/strong><\/p>\n

The black community\u2019s long history of entrepreneurship is marked by ebbs and flows. The Reconstruction era, the period after the Civil War, saw a sharp rise in the number of black-owned businesses as the country attempted to right some of the inequities of slavery. But in the late 19th and early 20th centuries, the resurgence of Jim Crow laws enforcing racial segregation, coupled with the Great Depression, led to the decline of black entrepreneurship. \u201cBlack businesses were targeted and we saw a rollback in many of the advancements that were made previously,\u201d says Tiffiany Howard, a small business and entrepreneurship fellow at the Congressional Black Caucus Foundation.<\/strong><\/p>\n

The rate of black business creation continued to rise and fall throughout the 20th and 21st century, increasing in the \u201990s, dipping during the 2008 recession and rising again post-recession. In recent years, the number of black-owned businesses has risen dramatically, with black women fueling much of that growth. In 2003, Oprah Winfrey, arguably the most notable black female entrepreneur, became the first black American billionaire. And in just the last five years, four other African-Americans have reached the billionaire echelon.<\/strong><\/p>\n

But even with this forward momentum, black entrepreneurs still face a number of challenges: primarily, a lack of access to capital, says Ron Busby, president of the U.S. Black Chambers. \u201cWe have the acumen, the creativity, the knowledge and even the manpower. But without access to capital, our ideas come to a standstill, are stolen or are manipulated.\u201d\u00a0<\/strong><\/p>\n

Many of the black 2020 30 Under 30 listmakers echo a similar sentiment in candid video interviews with Forbes<\/em>, but they also note the black community\u2019s collective ability to persevere against all odds. And in an effort to level the playing field for entrepreneurs of color, a number of corporations and wealthy black business leaders have created funds to invest in minority-owned companies. Real estate tycoon Don Peebles announced a $500 million fund for emerging minority and female developers in June 2019, and banks like JPMorgan and Citigroup have launched initiatives and investment funds to support underrepresented entrepreneurs.\u00a0<\/strong><\/p>\n

Still, much remains to be done both in the private and public sectors. \u201cIn order for there to be a great America, there must be a great black America,\u201d Busby says. \u201cAnd in order for there to be a great black America, you must have great black businesses and a great black economy.\u201d<\/strong><\/p>\n

If history is any indication, black entrepreneurship will continue to grow and thrive in the coming years\u2014an economic boon for Americans of all colors.<\/strong><\/p>\n<\/div>\n

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Celebrating The Legacy Of Black Entrepreneurship & Black-Owned Family Businesses<\/span><\/strong><\/h1>\n
1. \u201cFree Frank\u201d (Frank McWorter)
\n<\/span><\/strong>An American slave who eventually bought his freedom, Free Frank<\/a> became a saltpeter manufacturer and businessman. He experienced significant success during the War of 1812 when saltpeter was in high demand. Because of his success, he was able to buy the freedom of 16 members of his family \u2013 with many more even after his death (his heirs used his inheritance to free more relatives). Free Frank is also known to be the first African-American to found a town in the United States; in 1836, he founded the town of New Philadelphia in Illinois.<\/strong>2. Frederick Patterson & Charles Richard Patterson
\n<\/span><\/strong>Frederick Patterson was the first African-American to manufacture cars. His father, Charles Richard Patterson, cofounded the carriage business, C.R. Patterson & Son Company<\/a> and eventually bought out his 20-year partner, J.P. Lowe (a white man). After his father’s death, Frederick Patterson developed the Patterson-Greenfield car and was in direct competition with Henry Ford’s Model T. He later converted his business to the Greenfield Bus Body Company.<\/strong>3. Annie Malone<\/span><\/strong>One of America’s first and most prominent Black businesswomen, Malone founded and developed Poro College<\/a>, a commercial and educational business focused on cosmetics for Black women. Born to former slaves, Malone would later develop a chemical that could straighten Black women’s hair without causing damage to the hair or scalp. Poro College as an institution of learning, was established as a way to teach people about Black cosmetology. Through the school and the business, Malone created jobs for 75,000 women around the world. She is recorded as the first Black female millionaire in the United States, with a reported $14 million in assets in 1920 ($167 million by today’s standards).<\/strong>4. Johnson Publishing Company
\n<\/span><\/strong>John Johnson was the founder of Johnson Publishing Company<\/a>, which publishes both Ebony<\/i>\u00a0and\u00a0Jet<\/i>\u00a0magazines. One of his first ventures, The Negro Digest,<\/i> aimed to cover positive stories about the African-American community, mimicking the style of the Reader’s Digest<\/i>. Johnson was unable to find any backers\u2014Black or white so in order to fund the publication he used a $500 loan that was borrowed against his mother’s furniture. The company is now run by his daughter Linda.<\/strong>5. Mahogany Books
\nIn 2007, Derrick and Ramunda Young launched\u00a0Mahogany Books<\/a>, an online-only retailer that specializes in books “written for, by, or about people of the African Diaspora.” The husband-and-wife duo opened the doors of their brick-and-mortar store in 2017 in Anacostia, a historically African-American neighborhood in Southeast Washington, D.C.<\/strong>6. Atlanta Life
\nAtlanta Life founder, Alonzo Herndon<\/a> was born into slavery and got his first break in business by owning and running several barbershops in Atlanta before starting up an insurance firm. He started Atlanta Life in 1905 and since then Atlanta Life<\/a> has expanded into asset management and is still a Black-owned business today.\u00a0<\/strong>7. Peotona Capital
\nSouth African investment company\u00a0Peotona Capital<\/a> was founded in 2005 by four women\u2014three Black, one white\u2014and now runs a successful portfolio of investments. What\u2019s unique about Peotona Capital is that the company invests in the development of South Africa, both through partnerships with the firms it invests in and through its own mentorship program, which currently provides individual mentoring and support to 66 young Black professionals.<\/strong>8. Millennium Steel Service
\nIndiana-based\u00a0Millennium Steel Service<\/a> was founded in 2001 by husband-and-wife Henry and Andrea Jackson. Henry unfortunately passed away in 2007, but Andrea continues to run both Millennium Steel Service and in 2014 she opened Millennium Steel of Texas (MST) in San Antonio, TX.<\/strong>While in no way an exhaustive list, we hope you’ll find some inspiration from these business-owners and entrepreneurs who portray the power of Black families and generations working together to build a legacy.<\/strong><\/p>\n
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#141 <\/span>Robert F. Smith<\/strong><\/h1>\n
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REAL TIME NET WORTH<\/strong><\/h3>\n
$6.7B<\/strong><\/div>\n
as of 10\/13\/21<\/strong><\/div>\n<\/div>\n
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2021 Forbes 400 NET WORTH<\/strong><\/h3>\n
$6.7B<\/strong><\/div>\n
as of 10\/4\/21<\/strong><\/div>\n<\/div>\n<\/div>\n
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