Accelerate SCIs digital access initiatives up to $35M in donations or in-kind: partner with New Orleanss Office of Information Technology & Innovation and Education SuperHighway to invest in setting up internet connections / hotspots, offering laptops/Chromebook and supporting adoption (through government subsidy technical assistance and digital literacy) to connect ~55K homes to high-speed internet in Greater New Orleans region, 8. Based in Houston (Texas), Freeport is estimated to be worth $3.4 billion and Mr. Smith still owns nearly 60% of the company. The company has offices in Austin, Texas, Chicago, New York, Oakland and San Francisco. With customers locked in to paying $2.5 billion a year for the next two decades, there will be enough to pay off debt, keep the machines running and make distributions to Smith and partners. 7. Report: Houston is the No. The $140 million settlement covered back taxes, interest and penalties. Michael Jordan, whose net. Robert and Hope own homes in Los Angeles, Florida and New York City. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. And do you have the capacity to deliver that?. The Forbes 400 Richest Americans list has been published annually since 1982. Scale career prep ~$10M: scale the New Orleans Youth Alliance and YouthForce NOLA with 15-20 coaches over 5 years to equip ~20K young adults with skills for high-paying industries, job search & prep and subsidized transportation, Estimated impact (of all initiatives): ~2K additional college graduates and ~20K workers with high-paying wages to drive ~$1B in economic growth, 7. As of 2022, Michael Smith's net worth is $14 million. * In partnership with National Bankers Association and Appalachian Community Capital; CDFIs/MDIs being considered include: First Bancshares, Commonwealth National Bank, TruFund, Sabre Finance, Bronze Valley, etc. Michael S. Smith built Freeport LNG, a $15 billion complex on the Texas coast that chills and exports liquefied natural gas. And Vista works with their acquisitions by guiding sustainable growth as it backs their products. Alexander Karp ($2bn) Following Cornell, Smith was an engineer with Goodyear Tire & Rubber until 1988 when he left for a position at Kraft General Foods. He astounded the entire world when he pledged more than $34 trillion in student loan debt for the whole of the graduating class of Morehouse College. Back in 2002, when he got his start on Quintana Island, Smiths strategy was not to export LNG at all, but to import it. Former co-owner Global Infrastructure Partners agreed to sell 25.7% of Freeport LNG for $2.5 billion, according to a November 2021 press release. What we do not know is the identity of the buyers real estate agent(s). Director of the NMAAHC, Lonnie G. Bunch III noted that Smith is a part of a new generation of donors that feel they can express themselves through their philanthropy. 1 most stressful city for U.S. workers, Bun B on bringing Southern rap stars to Houston's Rodeo, Turner: State takeover of Houston ISD could happen next week, 'Call me a Nazi': Former Houston pastor calls for state book ban, How the Houston Zoo moved its flock of flamingos to a new home, Astros show struggles with new MLB pitch clock rules, The only Houston rodeo food guide you'll need, Former KHOU anchor turns layoff into lucrative real estate career, Houston leaders delay vote on Hobby Airport concesssions contract, massive $70 million gift to Memorial Park in 2018, Watch: Houston Astros' Luis Garcia debuts new windup, Houston pitmaster goes viral after hilarious on-air interview with reporter. Michael Jordan's exceptional career as a basketball player, coupled with his astute entrepreneurial acumen, has established him as one of the most prosperous athletes worldwide, and among the richest black billionaires.. With a staggering net worth of approximately $1.7 billion, Jordan has created a formidable empire that transcends his remarkable feats on the court. Smith is the founder and chief executive of Freeport LNG, the second-largest liquefied natural gas company in the US based on production capacity. Smith had been charged with evading taxes through the use of offshore accounts. The controversial musician and fashion mogul made the headlines recently for his richest black man in history claim. Heather Browne, a spokesperson for Smith, declined to comment on the net worth calculation. Joining the ranks of Kinder and his wife Nancy are 35 other prominent Texans who comprise the Forbes 400 list in 2020. The majority of Smith's fortune is derived from his majority stake in Freeport LNG Development, the second-largest liquefied natural gas company in the U.S. based on production capacity. Its focus on companies in the software and technology sectors, differentiated it early and led to its current success. Fund endowment $2M: support 50 University of Alabama at Birmingham college students per year with housing to reduce their financial burden and increase college retention and graduation rates, Estimated impact (of all initiatives): 6.5K+ additional college graduates & 35K workers with high-paying wages to drive ~$1.2B in economic growth, 6. Published 3 days ago on February 21, 2023 By Eduardo C. Serrano Robert Smith. This is a period of his life Smith called, "The Joy of Figuring Things Out," in his 2019 speech at the Morehouse College commencement ceremony. And that takes countless hours and in some cases outreach for knowledge and information and in some cases its [about] building a learned capability. Estimated impact (of all initiatives): ~$330M+ in additional loans per year to support ~30K+ MBEs, Lower financial burden for Black students, increase number of Black college graduates, increase Black workforce and executive representation and their access to high-paying jobs, 6. Biography. for doing nothing. Scale technical assistance $20M: fund the Urban League of Louisiana, New Orleans Business Alliance, Thrive New Orleans and Propellor to scale bookkeeping, B2C payment, marketing support & subsidized rent to scale 200+ MBEs from <$1M to $5M+ in annual revenue, Estimated impact (of all initiatives): 2.5x increase in MBE value & 8K+ new jobs, boosting Black communitys net worth by ~$2B+, 3. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Thats the impetus to signing20-year supply dealsutilities in Japan have to make sure they have the gas they need, says analyst Alex Munton, of energy consultancy Wood Mackenzie. Well, yall, let us tell you. 125, Texas Vodka king Bert Tito Beveridge: $4.6 billion, No. Click or tap any entry for further details on their net worth, the companies they control, their overall asset mix and more. Selling agent: Barry Peele, Sothebys International Realty, Get our latest stories in the feed of your favorite networks. Fund technical assistance $25M: fund Prosper Birmingham, Magic City Match, and Birmingham Business Alliance to establish/expand business advisory programs, renovate and subsidize retail/office space for MBEs and scale coaches & support services (e.g., digital footprint, B2C platforms, accounting & bookkeeping, recruitment, etc.) (That transaction and an $18 million Pacific Palisades compound purchased for Mr. Walters close business associate Alexandra Court are currently being investigated by the SEC. Smith recouped his initial investment by getting big potential customers like Dow Chemical and ConocoPhillips to put down deposits and eventually sign 20-year contracts securing the right (but not the obligation) to turn LNG back into usable gas at Freeport. Smith found that even after earning two degrees, and years of professional experience, he was still having to learn new things if he wanted to become an expert and become truly successful. Commit to supplier diversity: increase MBE spend in Charlotte region to 5-10%+, Estimated impact (of all initiatives): 3x increase in MBE value & ~13K new jobs, boosting Black communitys net worth by ~$2B+, 4. This is the complete Canadian Business ranking of the 100 wealthiest individuals and families in Canada. Vital to his later success was learning all the paperworkdeals, contracts, plans, permits. So heres what we know and what we do not know. Forbes undertakes a rather extensive, if not elaborate analysis (see full methodology here) to crunch the numbers. He also sold equity stakes in specific aspects of the project: The two Japanese companies put up, He built it. Christopher Cannon, Dean Halford, Brittany Harris and Julian Burgess, of the total wealth of the 500 richest people in the world, of the top 200 U.S. executives total awarded compensation. Smith is on the board of Robert F. Kennedy Human Rights and is a Member of the Cornell Engineering College Council. Real Time Net Worth. Smith earned a bachelor's degree in chemical engineering from Cornell University in 1985. William Barron Hilton - Net Worth: $2.5 billion. His biggest business move was a lucrative apparel deal with Adidas which propelled his net worth to $1.8bn. Director finally called him back and Smith got the job. Lee with his wife of 27 years, Ann Tennenbaum. Michael Anthony Groover is his full name. She walked down the aisle into Smith's arms as John Legend sang, "For the First Time." While at Kraft he earned two European patents. Hilcorp top executive Jeffery HildebrandHilcorp ranks No. Two separate structures make up the estate: one an L-shaped two-story main residence with 4,618-square-feet of living space with 4 beds and 4.5 baths, and the other a two-story guest structure with another 3 beds and 3.5 baths in 2,316-square-feet of space. # 376 Michael Smith $6.23B Random fact: Bought out his business partner in the late 1980s during oil price downturn. Continue reading to find out how much Will Smith makes and what makes his net worth so high. Smith's background as a chemical engineer greatly contributed to Vista's early identification of software as a prime investment market. According to Lawrence Berkeley National Lab, we can credit the shale fracking boom for nearly half of the reduction in U.S. emissions since 2005, as utilities switch from higher-carbon coal. Over the past 200 years, the island has been home to a Mexican fort, then a busy seaport for early Texas farmers, who shipped out cotton. 2023 Forbes Media LLC. Thats a total of 7 beds and 8 baths in nearly 7,000-square-feet of house, for all you beancounters. Id say, Look at the data,but I realized the decision makers werent really looking at the data. 15. Randa Williams is among the top 10 wealthiest Houstonians on the 2020 Forbes 400 list of wealthiest Americans, with an estimated net worth of $4.8 billion, ranking at No. Never underestimate the resolve, drive and determination of ten Houstonians who made the Forbes 400 list of the wealthiest Americans amid the trying times of pandemic. 154, Tech mogul Thai Lee: $3.1 billion, No. and increase community outreach to drive regional awareness and new pipeline projects over 5 years, 3. He lived a quiet, nerdish life as someone who loved to solve problems. Furthermore, no information about his educational journey can be found on the internet. In 2000, he sold Basin for $410 million to Stone Energy, pocketing about $60 million. Send us a tip using our anonymous form. He called the H.R. Blue Spruce appears to mainly function as a management firm for the Smith familys enormous wealth and their numerous investments. Be an advocate for SCI priorities: engage federal and state agencies to drive policy and funding improvements to better support SCIs near-term priorities, E.g., Engage the Small Business Administration and Minority Business Development Agency to increase technical assistance programs and annual spend to better support Minority Business Enterprises (MBEs) with capital and scaling needs, E.g., Ask the Federal Communications Commission (FCC) to include multi-dwelling unit connectivity in its new broadband connectivity maps and ask the National Telecommunications and Information Administration (NTIA) to allow non-FCC data in state broadband plans to unlock ~$285M in potential government broadband funding for 5 SCI regions. 103, with estimated net worth of $6.2 billion, according to Forbes. Most recently, Smith has been active with "One Stock. The complete Canadian Business Magazine ranking of Canada's Top 100 Richest People, plus how much their wealth has changed in the last year. Smith has made his own historic mark on the island. Smith founded Freeport LNG in 2002. Mr. Smith is an oil and gas mogul, the Chairman and CEO of Freeport LNG. He bought his original stake from BET founder Robert Johnson for $175 million. 162 with a net worth of $8.3 billion. Michael S. Smith built Freeport LNG, a $15 billion complex on the Texas coast that chills and exports liquefied natural gas. Commit to increase racial diversity in supply chain and procurement: increase MBE spend in Greater Houston region* to 5-10%+, * One Houston Together serves as lead (please contact if you are interested in funding these initiatives), ** Houston Minority Supplier Development Council (HSMDC) serves as a partner organization (please contact if you are interested in learning more about this initiative), Estimated impact (of all initiatives): 2.5x increase in MBE value & ~55K new jobs, boosting Black communitys net worth by ~$12B, 4. But then Canadian billionaire Daryl Katz tied up the score just months later, with his $85 million throwdown on a Brutalist-influenced compound. Growing up in Denver, Colorado, Smith only knew one engineer in his Black community. Smith was six credits shy of a degree from Colorado State University in 1978 when he decided to drop out to ski, according to a university magazine article. Its 2018 revenues were $2.7 billion, according to a U.S. government database. Though there are just 15 Black people among the world's estimated 2,755 billionaires, fortunately, the list is growing. 17. The index is a dynamic measure of personal wealth based on changes in markets, the economy and Smiths 63% ownership in the limited partnership is worth in excess of $1 billion. But we are certain that Mr. Martin is glad that they did he sold them the house for $4.1 million more than he had paid only two years prior. Dirt is a part of Penske Media Corporation. Smith could have thrown in his lot with Souki, but he wanted to run his own show. The studio/gym/spa loves the software because it enables them to have professional services for a relatively minimal annual fee that they never stop paying. One of the benefits is I now have the abilityto inspire some people, some young people, African Americans, to actually say I can now go do this, Smith said. Net worth: $51.4 billion. BEST MANAGED COMPANIES 2021 He has a net worth of $6 billion. Michael Smith (born August 28, 1984) is famous for being youtuber. Estimated impact (of all initiatives): 5K+ additional college grads & ~600 workers with senior exec positions / high-paying wages to drive ~$0.2B in economic growth, 6. His stake is valued in this analysis based on the 2021 transaction. Any kind of construction risk is out of the way. Freeport will export about 15 million tons of LNG this yearthe energy equivalent of 130 million barrels of oiland is on track to book nearly $2.5 billion in revenue. Interested in local real estate? 319, Venture capitalist Jim Breyer: $2.4 billion, No. Those looking for Robert F. Smiths secrets to becoming a billionaire should study his journey to the top from his extensive education in engineering and finance to his founding of Vista Equity Partners and all the hard work that got him there. Standup training hub $30M: fund* the establishment a world-class training hub that offers certificate-granting STEM and innovation programs in advanced manufacturing, health care, etc. He has gained popularity there for his in-depth reviews of vintage, classic video game . No sooner had Freeport LNG gotten all three trains operational in early 2020 than Covid-19 lockdowns dashed global demand for gas. From 1988 to 2017 Robert was married to Suzanne McFayden. He put up $14 million for 60% of the Freeport site. TAYLOR SWIFT Net Worth $600 Million Dassault Falcon 900 KYLIE JENNER Net Worth $600 Million Bombardier . $1.25 billion to own 50% of train 1. Fund SFI program $7M: fund the Student Freedom InitiativesIncome Contingent Alternative to Parent Plus to support ~15 Black STEM students per year forever at 4 HBCUs**, * Lead organization: The Collective Blueprint; Contributing local organizations for community strategy include (but not limited to): Greater Memphis Chamber and Workforce Midsouth, ** Minority Serving Institutions / HBCUs with STEM programs being considered: Le Moyne-Owen, Baptist Memorial, University of Memphis, Rust College, Estimated impact (of all initiatives): 8K+ additional college graduates and 10K workers with high-paying wages to drive ~$1B+ in economic growth, Increase accessibility, affordability and adoption of high-speed Internet, 8. 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