10 Things You Didn’t Know About Bob Brockman
Robert Theron Brockman, or simply Bob Brockman, was born in 1941 to a gas station owner and physiotherapist. He earned his degree in business administration from the University of Florida before working at Ford Motors and IBM. In 1970, he founded Universal Computer Systems in his living room. In 1982, the company sold its first in-dealership UCS, and since then, the businessman has carved a name for himself in the automotive industry as a software dealer. He is a man of few words who avoids the media, but we have a few facts about him.
1. He is Accused of Masterminding the Largest Tax Evasion Scheme Ever in the United States
Brockman and Robert F. Smith, regarded as the richest black man in the US, met in 1997. According to Washington Post, by then Brockman was a multi-millionaire, and Smith was determined to be successful. Therefore the billionaire offered Smith a chance of a lifetime- to help Smith set up a private equity firm and provide him with $1 billion in capital. Of course, nothing in life is free, so Brockman had some strings attached to the deal; he wanted Smith to hide $200 million in profits every year in an offshore account. The offshore funds accumulated billions of dollars that helped Smith also become a renowned philanthropist.
2. He Claimed His Dementia Made Him Unfit to Stand Trial
According to his lawyers, the businessman is incompetent to stand trial. As Bloomberg published in December 2020, Brockman said he suffered from advanced dementia. His attorneys added that he only scored 87 on an IQ test, which shows that his intellectual capacity has diminished over the years. The lawyers even explained that four highly qualified factors diagnosed dementia on different occasions over a twenty-two-month period.
3. Prosecutors Believe He is Feigning Dementia to Avoid Trial
Despite the claims of dementia and Parkinson’s disease, the prosecutors think he is faking it to avoid standing trial. They reasoned that Brockman was still at the helm of his company until the criminal charges resulted in him stepping down as the chief executive officer of Reynolds & Reynolds. The prosecutors added that even the doctors who diagnosed his dementia were affiliated with the Baylor College of Medicine Baylor. Since Brockman has donated millions of dollars to the institution, the doctors’ opinions must have been biased.
4. He is the Owner of Albula Yacht
According to Superyacht Fan, Brockman is the owner of Albula, a 63.84 m yacht that was built under the name Turmoil. Ole Steen Knudsen designed it while Royal Denship built it in steel and aluminum. It was delivered to the owner in 2006 and was flaunted as a world-class explorer equipped with a helipad and enough room to carry three large tenders.
5. He is Into Quality over Quantity
After running Reynolds & Reynolds for six years, Brockman was speculated to be in the process of looking for investors in a buyout deal. Sources cited that in 2012, he had fewer dealer customers than those the company had at its founding. One competitor said that Brockman’s business model was having a few dealers bringing in lots of money instead of having many dealers paying little sums of money. Therefore the businessman opted for software that handled many operations that would yield large profits.
6. He Taught Himself How to Program
Learning coding can take a long time; if you opt to attend a college, it will take at least four years but only six months maximum at a coding boot camp. Contrary to popular belief, coding is not hard to learn if you are persistent and patient. Brockman must have discovered this thus taught himself how to program. The businessman once said that he is still a programmer at heart, although he had to give up on hands-on programming years ago.
7. He pleaded Not Guilty to the Tax Evasion Charges
No matter how hard people try to hide their money from the Internal Revenue Service (IRS), it will always catch up with them. Stephen Baldwin missed landing in jail by a whisker after pleading guilty to tax evasion. He had not paid taxes for three years running from 2008 through 2010, and the amount totaled to $400,000. He paid within the one-year deadline, and his slate was swiped clean. Brockman is not ready to admit he is guilty of hiding $2 billion in the last two decades. He would rather pay a $1 million bond and await his fate as his lawyers keep doing everything possible to keep him from standing trial.
8. How He Achieved His Net Worth
Brockman’s net worth is estimated at over $1 billion. While being the man behind the largest tax evasion case could have a lot to do with it, he still is a businessman running a legal business. According to Forbes, the entrepreneur has accumulated wealth through his software. He sells DocuPad, which he explained that despite setting back businesses $10,000 in the startup fees and $1,000 in monthly license fees, the dealers generate massive profits. He has locked several dealers in multi-year contracts; thus, he keeps getting his money through the monthly payments and other charges.
9. Why He Transferred from Centre College
Centre College is a close-knit community of fewer than 1,400 students who mainly major in arts and humanities. Brockman spent two years at the campus but transferred to the University of Florida because the institution did not offer a business administration major. Despite the short-lived stay, Brockman has a solid allegiance to Centre College and has donated millions of dollars.
10. He Was Once Likened to Satan by a Blogger
In 2014, Court House News reported that Brockman and his company, Reynolds &Reynolds, were being attacked by a blogger who went by the name “Trooper.” The blogger defamed Reynolds & Reynolds, saying it sold poor quality products and likened Brockman to Satan, Bobo the Clown, and Bernie Madoff. Brockman was furious and wanted the blogger’s identity revealed, speculating that it was one of his employees. However, the blogger hired a lawyer to protect his identity.
