Every year, Forbes magazine publishes its exclusive list of the richest people in America. The number of African-Americans on the list is always very small. However, this year, that remarkably small number just got bumped up.
Enter tech entrepreneur Robert Smith, who made his swift entry onto the Forbes 400 at number 268 boasting a cool $2.5 billion fortune. Just how did he do it, you may ask? Well, Mr. Smith is no rookie in the investor game. Currently, he is the founder, chairman and CEO of Vista Equity Partners, a private equity firm in Austin, Texas, with $15.9 billion in client assets.
Owning more than 50 percent of Vista has done him well. This past July, he sold a minority stake in the company valued at $4.3 billion to Dyal Partners.
Smith is the second-richest African-American in America after media mogul Oprah Winfrey, who came in at No. 211 on the list.
On the global billionaires list, Smith and sneaker impresario Michael Jordan came pretty close in ranking, but Mike came in under Smith at number 1,741.
If you were wondering, Smith isn't spending all that money by himself. The billionaire recently married Hope Dworaczyk, Playboy's 2010 Playmate of the Year, in Italy this past summer.
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(Photo: Forbes Magazine)
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