Robert F. Smith is Once Again America’s Richest Black Billionaire

Robert F. Smith, the founder, chairman, and CEO of Vista Equity Partners, has become America’s richest Black billionaire. David Steward, the principal shareholder and co-founder of World Wide Technology (WWT), has stepped down after a month in charge.

Smith’s rise corresponds with a $1 billion dip in Steward’s net worth, from $12.3 billion to $11.3 billion. This fall is due to the recent market value decline of Steward’s 59% investment in WWT, an information services and hardware supplier.

Bloomberg values WWT based on the enterprise value-to-sales multiples of three publicly traded peers (Insight Enterprises, Eplus, and CDW). This gives WWT a current market worth of $19.15 billion at the time this article was written.

Although Steward’s wealth has decreased, Smith’s fortune remains stable at $11.4 billion, according to the Bloomberg Billionaires Index. This maintains his position as America’s richest Black billionaire and the world’s second-richest, trailing only Nigerian billionaire Aliko Dangote.

Vista Equity Partners’ ninth flagship fund is nearing completion with almost $20 billion in commitments, strengthening Robert F. Smith’s position. This demonstrates a considerable investor interest in large-scale technology acquisitions.

Smith has led Vista Equity Partners to $101 billion in assets and a remarkable reputation, with a 31 percent average return since its creation. Vista is well-positioned to flourish in the dynamic technology investment sector, having completed over 610 transactions totaling $302 billion.

Smith’s recent return to the top rank among Black billionaires demonstrates his financial resiliency and Vista’s long-term success under his leadership. As he navigates the ever-changing digital investment market, Smith’s impact continues to shape the industry’s future.

Robert F. Smith, who founded Vista Equity Partners in 2000 and has a net worth of $11.4 billion, has been instrumental in the company’s development. The firm has established itself as a premier private equity investor in software, data, and technology-enabled firms. Vista’s portfolio includes more than 85 firms, which employ approximately 95,000 people worldwide.

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