One of Boston’s wealthiest men, Richard Smith, racked up his fortune building an empire, and selling it off. His estates included a soda bottler, a major publishing company, and multiple department stores.
Smith sold his soda-bottling company to PepsiCo for $1.88 billion in 1989, and the rest is history. Richard Smith’s estimated net worth is $500 million.
A native Australian residing in Chestnut Hill, MA, Smith is #32 on Forbes’ list of Australia’s 50 Richest. His company PFD Food Services supplies food products to not only restaurants, but hospitals, prisons and schools. Smith continues to expand by buying other food service companies.
In 1970, Smith and his wife established the Richard and Susan Smith Family Foundation, and today, three generations of the Smith Family are active trustees. The foundation gives sizable grants to nontraditional schools aiming to close achievement gaps in the city.