Robert Brockman, an American billionaire businessman and former CEO of Reynolds & Reynolds software company, died on Friday, August 5, 2024, at his house in Houston, Texas. He was 81 years old. Read on to know what happened to him and how did he die.
Brockman was charged with the most significant tax evasion case in U.S. history. He had been fighting IRS claims of money laundering and tax fraud worth more than $2 billion since 2020.
According to prosecutors, he had a net worth of $4.7 billion, owned an $8 million residence in Houston, a Colorado ski chalet, a Bombardier jet, and a 209-foot boat named “Turmoil.”
Brockman’s lead attorney, Kathy Keneally, announced the unfortunate news of his death on Saturday.
Robert Brockman Cause of Death Explained?
Robert Brockman died on Friday at his house in Houston. He was suffering from Dementia and was undergoing home hospice care. His attorney Kathy Keneally confirmed the news of his passing on Saturday.
His lawyers had consistently argued that he was incompetent to stand trial. However, a judge ruled in May that he was competent and the trial would proceed. The date for the trial was set for February 2024 at a hearing in June.
Unfortunately, Brockman passed away at the age of 81 years.
Did Robert Brockman Pass Away due to Dementia?
No, Robert Brockman did not pass away due to Dementia as it’s not a disease but a chronic disorder of the mental processes caused by brain disease or injury. It’s marked by memory loss, personality changes, impaired reasoning, and other abnormal symptoms.
However, the result of progressive brain disorders caused by Dementia may cause death. Brockman likely passed away due to excessive brain damage. Neither his family nor the lawyers released the specific cause of his death.
Robert Brockman Early Life and Businesses
Robert Theron Brockman was born in St. Petersburg, Florida, on May 28, 1941. His faher Alfred Eugene Brockman owned a gas station and his mother Pearl was a physiotherapist. His brother David once revealed that Brockman “decided he didn’t love that and went out to make something of himself” upon seeing his family struggle financially.
Brockman became an inexhaustible worker with a passion for physical fitness in his younger days. He became a self-taught programmer and obtained more than a dozen patents. He started selling computing services to auto dealers on behalf of International Business Machines Corps.
In 1970, he founded a company that helped revolutionize how the industry operations in NA and Europe. Brockman then went on to grow Reynolds & Reynolds into a 5,000 person operation worth over $5 billion.
As Brockman’s company turned into an industry force, he faced a number of lawsuits accusing him of bare-knuckled business practices. Salespeople accused his company of cheating of payments while auto dealers claimed the company tricked them into useless contracts.
In August 2006, Universal Computer Systems bought Reynolds and Reynolds and consolidated the two firms’ activities under the Reynolds and Reynolds brand. Brockman was a University of Florida graduate and also possessed work experience with Ford Motor Co. and IBM.
Rober Brockman is survived by his brother David; his wife of 53 years, Dorothy; a son, Robert Brockman II; a daughter-in-law; a grandson; and a granddaughter.
Robert Brockman Networth: How Rich was he?
According to Forbes, the estimated net worth of Robert Brockman is around $4.7 billion. The majority of his fortunes came from his software company ventures and investments in other businesses. He was the seed investor in Vista Equity Partners.
Brockman also owned an $8 million residence in Houston, a Colorado ski chalet, a Bombardier jet, and a 209-foot boat titled “Turmoi.” It’s possible that he also possessed numerous unannounced invaluable’s.
Robert Brockman Money Laundering & Tax Evasion Charges
Robert Brockman was charged in the biggest tax-evasion case ever against an individual in the United States in October 2020. The government accused him in 39-count indictment with avoiding taxes on $2 billion in earnings, wire fraud, money laundering, and other charges.
He pleaded not guilty to the charges. According to the Department of Justice, the alleged scheme to conceal billions of dollars in income from the IRS extended for decades.
“I have not seen this pattern of greed or concealment and cover-up in my 25-plus years as a special agent,” said James Lee, an IRS official while filing the charges.
Brockman seeded Robert F. Smith’s firm Vista with at least $1 billion in funds to buy out enterprise software firms. Later, Smith admitted committing tax crimes but avoided prosecution by cooperating with prosecutors against Brockman.
Now, the case stays pending in the US District Court and Tax Court.
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