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Investment Firm CEO Tells Thousands in Conference Audience That 60% of Them Will Be 'Looking for Work' Next Year

Sherin Shibu

created: June 5, 2025, 3 p.m. | updated: June 6, 2025, 3:01 p.m.

There were over 5,500 people at SuperReturn International 2025, making it the largest private equity event in the world. Robert F. Smith, the CEO of investment firm Vista Equity Partners, said on Thursday that AI will overturn the job market and lead to layoffs for most finance professionals. SuperReturn claims to be the world's largest private equity event, with senior leaders from major investment firms, such as Goldman Sachs and BlackRock, in attendance. Vista is one of the largest private equity firms in the world, with over $100 billion in assets under management. The report stated that AI could cause the banking industry's global profit pool to rise from $1.7 trillion to almost $2 trillion by 2028.

2 days, 8 hours ago: Entrepreneur