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Billionaire Robert Smith to Pay $140 Million Over Tax Probe

  • Smith to cooperate, admit misconduct but won’t be prosecuted
  • Vista Equity Partners is not involved in Smith tax settlement
Robert Smith

Robert Smith

Photographer: Jason Alden/Bloomberg
Updated on

Billionaire Robert Smith will pay about $140 million and acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax havens, people familiar with the matter said.

Smith, chief executive officer of the private equity firm Vista Equity Partners, informed some executives and investors of the pending agreement on Wednesday, the people said. Smith, 57, is cooperating with related tax investigations as part of a deal in which he will admit misconduct but won’t be prosecuted, they said.