OMG! This dude just flipped a company for a $3billion profit. The fact he is already a billionaire shows this was more than just fluke, he has smarts!
Who, what, why, when?
If you know anything about Black billionaires then you probably know who this is before I type the name! Robert F. Smith, founder and CEO of Vista Equity Partners.
He was a former Goldman Sachs investment banker who was the first to focus on billion-dollar technology mergers and acquisitions, back in 2000 the focus on software was seen as risky but clearly had his sights on the correct doors and kicked that door wide open.
This particular deal started with the purchase of the cloud-service company, Marketo for $1.8 billion back in 2016. It was seen as risky BUT he just sold it for $4.75 billion to adaobe. This is the largest acquired profit from a single company in the last 20 years!
It wasn’t a simple sale though, Marketo was stuck and not growing and was losing cash when he acquired it but he righted that ship and in 3 years pushed it ahead to a solid $100million a year profit.
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