The billionaire technology investor who promised to pay off hundreds of Morehouse College graduates’ student loans has ties to Chicago — including patenting a coffee brewing method for the company formerly known as Kraft General Foods.
Robert F. Smith is the founder, chairman and CEO of Vista Equity Partners, a private equity firm that invests in software, data and technology companies. On Sunday, he announced to about 400 graduates at the all-male, historically black college in Atlanta that he would pay an estimated $40 million to wipe out their loans.
Forbes estimates Smith’s net worth to be about $5 billion, and Vista has more than $46 billion in assets. He’s got ties to Chicago too: He knows about brewing coffee.