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Meet Robert F. Smith, the billionaire who paid off an entire class' student loans and reportedly will now pay $140 million to settle a four-year investigation into his taxes

4 days ago   |   By Business Insider

Summary List Placement
Robert F. Smith, CEO and founder of private equity firm Vista Equity Partners , will pay $140 million to settle to a four-year-long investigation into his personal taxes.
Smith became one of the most recognizable members of the three-comma club after announcing during his May 2019 commencement address at Morehouse College in Georgia that he would pay off all the student loans owed by the entire graduating class. Smith later extended the gift, which Morehouse later said totaled $34 million , to cover the graduates' parents' loans, too.
Smith is worth an estimated...
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A billionaire that vowed to pay off the debt of an entire college class will pay $140 million to settle a four-year tax probe, a report says

A billionaire that vowed to pay off the debt of an entire college class will pay $140 million to settle a four-year tax probe, a report says

4 days ago   |   By Business Insider

Summary List Placement
Billionaire Robert Smith will pay $140 million to settle a four-year tax investigation, Bloomberg reported Wednesday.
The CEO of private equity firm Vista Equity Partners will admit misconduct, but will not be prosecuted, sources told Bloomberg.
The settlement amount, which is expected to be made public as early as Thursday, includes back taxes, penalties and interest.
Bloomberg reported in August Smith had been the subject of a four-year investigation by the Justice Department and Internal Revenue Service into outstanding taxes on $200 million in assets.
Smith hit...
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