BY TYLER DURDEN
You may know billionaire Robert F. Smith, 59, founder of private equity giant Vista Equity, as the richest black man in the U.S with a net worth of $8 billion
You may also know him for his escapades with the US Treasury which accused him of hiding tens of millions in income from the IRS and then using the untaxed money to buy up expensive homes in California, Colorado and France as well as putting his girlfriend up in an expensive Manhattan pad. He is also the same philanthropist who previously donated some $34 million (in more untaxed income) to pay off the student debt of black students at Morehouse College.
This libertarian tax evader, however, never saw the inside of a jail: he escaped charges by agreeing to testify against his business partner, former Reynolds & Reynolds CEO Robert Brockman, who was accused of hiding $2 billion from the IRS in the largest tax bust in US history (Brockman died earlier this month). He didn’t completely get away with it however: the Vista Equities boss was hit with $139 million in fines for his admitted tax evasion.