Robert Brockman
Robert Theron Brockman | |
|---|---|
| Born | May 28, 1941 St. Petersburg, Florida, U.S. |
| Died | August 5, 2022 (aged 81) |
| Occupation(s) | Entrepreneur, CEO |
| Known for | Former CEO of Reynolds & Reynolds |
Robert Theron Brockman (May 28, 1941 – August 5, 2022) was an American billionaire entrepreneur and the former chief executive officer of Reynolds & Reynolds, a software firm headquartered in Ohio.
Early life and education
Born in St. Petersburg, Florida, Brockman was the son of Alfred Eugene Brockman, who operated a gas station, and Pearl, a physiotherapist by profession. He had one sibling, a brother named Thomas David Brockman.
He initially enrolled at Centre College in Kentucky but completed his studies at the University of Florida, graduating summa cum laude in 1963. During his time there, he was inducted into the business honor society.
Career
Starting his professional journey in 1964, Brockman worked as a marketing trainee at Ford Motors while also serving as a reservist in the Marine Corps. Between 1966 and 1970, he was employed by IBM, where he became the top U.S. salesman within IBM's service bureau division.
In 1970, Brockman launched Universal Computer Systems, a software company catering to automobile dealerships, initially operating from his home. The firm's first dealership computer system was sold in 1982. During the late 1980s, he developed Power, a foundational software operating system that continues to be integral to the company.
On August 8, 2006, Universal Computer Systems merged with Reynolds & Reynolds through a $2.8 billion all-cash deal, after which Brockman assumed the role of CEO.
Tax fraud charges
On September 5, 2018, law enforcement officials from the IRS and Bermuda conducted a raid on the Bermuda office of Evatt Tamine, an attorney who had collaborated closely with Brockman for 14 years and was alleged to have assisted in concealing assets offshore.
In September 2020, Brockman faced a 39-count indictment filed in the Northern District of California. The charges accused him of orchestrating a two-decade-long scheme to evade approximately $2 billion in taxes owed to the IRS. Allegations included tax evasion, wire fraud, money laundering, and failure to report foreign financial accounts. Brockman entered a plea of not guilty and was released on bail set at $1 million. In October 2021, his name appeared in the Pandora Papers disclosures that revealed offshore tax avoidance strategies utilized by various public figures and business leaders.
The IRS designated Brockman as a potential flight risk and imposed assessments accordingly. In March 2022, he proposed paying $1.45 billion to reduce IRS liens on his properties and assets. By May that year, a federal judge determined him mentally fit to participate in trial proceedings.
Brockman held investments in Vista Equity Partners. Its founder, Robert F. Smith, reached an agreement with the Department of Justice in October 2020 involving non-prosecution terms; Smith agreed to aid authorities in their case against Brockman—the DOJ described as the most extensive tax fraud case ever pursued against an individual U.S. citizen—and paid a $139 million penalty.
The U.S. government is actively pursuing recovery of $1.4 billion related to unpaid taxes and penalties from Brockman's estate and is seeking to liquidate assets associated with his alleged schemes. For instance, Point Investments Ltd., a Bermuda-based corporation reportedly established by Brockman to conceal funds, is currently considering selling an asset portfolio valued at over $1 billion.
Personal life
Brockman first married at age 18 in Kentucky but later divorced. In 1968, he wed Dorothy Kay Brockman; the couple resided in Houston. Known for maintaining privacy, he avoided public interviews.
He was a prominent contributor to Republican political organizations and causes.
On August 6, 2022, Brockman's legal representative announced his passing at age 81 the previous day. Prior to his death, he had been diagnosed with dementia.
Philanthropic Activities and Board Involvements
In July 2013, Centre College in Kentucky publicized a charitable gift of $250 million from Brockman's trust; however, this pledge was retracted following the non-occurrence of a significant capital market transaction.
Brockman contributed to Rice University located in Houston, where two buildings on campus bear his name. Additionally, he was a member of the Council of Overseers for Rice's Jesse H. Jones Graduate School of Business.
His governance roles also included serving on the boards of trustees at both Centre College and Baylor College of Medicine.