Robert F. Smith is a billionaire. He made headlines when he decided to pay off student loan debt for every person who graduated from Morehouse College in May 2019. He recently announced that he will be starting an internship program for underprivileged minority students.
The name of the program is InternX. One thousand students will be able to get a paid summer internship in a STEM program. In order to be eligible for the internship, you must have a 2.8 GPA and be a rising sophomore. PriceWaterhouse Coopers, CitiGroup and AT&T are some of the programs that accept STEM candidates.
Robert F. Smith is the founder of a company called Vista Equity Partners. This is a New York-based investment firm that focuses on data, software and technology. Robert has an estimated net worth of $5 billion according to Forbes Magazine.
Robert announced that he would be paying off student loan debt for Morehouse graduates at the graduation ceremony. Morehouse College is a historically black, all-male college that is located in Atlanta, Georgia. Robert created InternX to make sure that minorities had the opportunity to be represented in business.
Fund II is an organization that was first created in 2014. The organization has donated over $150 million to various organizations including Susan G. Komen Breast Cancer, The United Negro College Fund and National Park Foundation. Linda Wilson is the executive director of the Foundation. Robert said that the program would not be the success that it is today. He hopes that InternX will be a success like Fund II is.
Robert has released a promo video for the intern program. He said that we have to create an environment that allows people to share themselves and their ideas. He also said that a $100,000 thought could turn into a $10 billion idea.