Ryan Williams (entrepreneur)

Ryan Williams is a technology entrepreneur best known as the CEO and co-founder of Cadre, a New York-based technology company. He was named to Fortune's "40 under 40" list for 2019,[1][3] Forbes' "30 under 30" list for 2018,[4] "Crain’s 40 under 40" list for 2017,[2][5] is one of Commercial Observer’s "30 under 30"[6] and has been profiled in Forbes,[7] Ivy,[8] technology and real estate trade publications.[9] In February 2019 he was on the cover of Forbes' "FinTech 50" issue.[10][11]

Ryan A. Williams
Born1988 (1988) (age 33)[1][2]
Baton Rouge, Louisiana, U.S.
Alma materHarvard
OccupationCEO of Cadre

In 2018 Williams announced a deal through which his company, Cadre, will receive at least $250 million (USD) in real estate investments from clients of Goldman Sachs.[12][13] In 2020, Williams published a widely-linked op-ed in CNBC recounting his experience being supported by a Black-owned and Black-founded bank early in his career, and his commitment to increase diversity among participating banks and real estate operators in the future.[14]

Early life

Williams was born in Baton Rouge, Louisiana, and founded a sports apparel company at 13.[15][16] Williams matriculated to Harvard University, where he founded the Veritas Financial Group, the school’s largest undergraduate financial literacy group.[15][17]

Career

Williams began his career in real estate technology during his undergraduate term at Harvard. He was inspired to create a system to track foreclosed homes after seeing the impact of foreclosures during a trip to Atlanta.[2] By using data about properties and neighborhoods, he was able to start a business purchasing deeply undervalued homes and restoring them to occupancy.[2] This business "flipping" homes with classmates and others as investors was his first entrepreneurial venture.[18] In 2020, he highlighted the importance of Citizens Trust Bank, an Atlanta bank founded by five Black businessmen and currently a Black-owned bank, to his early success. As a young Black man he was denied loans by 10 other banks before the then-chairman of Citizens Trust personally called to say that he believed in Willlams.[14]

After graduation from Harvard, he worked at Goldman Sachs and Blackstone before founding Cadre in 2014.[2] He worked at Blackstone in their real estate private equity division.[5]

At 26 years old, he left Blackstone to found Cadre, a financial technology platform that seeks to make the real estate market more like a stock market.[9] Williams currently serves as CEO of Cadre[19] and has led it through a $65 million Series C fundraising round led by Andreessen Horowitz.[20] He has been quoted as saying “Cadre’s mission is to create a more efficient economy, where we can connect the world’s buyers and sellers in opaque assets that have been inaccessible to many.”[21] He believes that increasing the ability of investors to participate in alternative asset classes (such as "energy, natural resources, oil, infrastructure or anything that’s historically been privately held or inaccessible"[22]) will expand the opportunity to build multi-generational wealth to many more members of the world[7] by "giving people direct, deal-by-deal access to commercial real estate, like you would buy and sell something on Amazon."[23] To him, that mission includes a secondary market and the ability of investors to select the deals they are most interested in, at lower cost.[16]

He is a regular speaker at conferences and in news programs regarding real estate technology.[15][24][25][26]

In 2020, he published a plan to help increase economic opportunity for diverse communities through "formal mentorship programs to provide hands-on guidance, and ... comprehensive skills-training programs that help people of all ages get a start in careers that will allow them to succeed in a fast-changing economy."[27] He was interviewed by CNBC's SquawkBox,[28] Forbes,[29] and others in response to his call for proactive steps to increase economic equality. Later in 2020, he reiterated the importance of remedying racial wealth and power disparities in the United States, noting for example that only 21 of over 4,700 banks in the United States are Black-owned or Black-led.[14] He further committed to partner with diverse operating partners and lenders, as well as committing at least 10% of Cadre's cash holdings to be held in minority depository institutions to empower them to lend into underserved communities.[14]

Personal life

Williams is a fan of LSU football.[9][30] He lives in Greenwich Village.[9] He has discussed his mission as an entrepreneur of color in a field that suffers "an outsized lack of diversity"[31] and says "I've never let anyone outwork me."[16] In a 2019 CNN interview, he stated his goal to be judged on his performance alone: "at the end of the day, it's about results and what you're able to deliver, not about the color of your skin."[31]

In 2020, he revealed that his great-great-grandmother, Addie Lynch, was born on a plantation in the late 1800s to a mother who had been a slave. He described it as part of his personal heritage that informed his decision to mark Juneteenth as a holiday within Cadre to help the company and country grow from past inequities, and build a more perfect society and union.[27]

References
  1. "Ryan Williams". Fortune.
  2. Geiger, Daniel (March 26, 2017). "40 Under 40 2017: Ryan Williams, 29". Crain's New York Business.
  3. "Young African-American CEO aims to revolutionize real estate investing | Business". phillytrib.com. June 11, 2019. Retrieved March 19, 2020.
  4. Vardi, Nathan. "30 Under 30 Finance: The Top Young Traders, Dealmakers And Big Money Innovators". Forbes. Retrieved November 18, 2017.
  5. "Ryan A. Williams Honored by Goldman Sachs for Entrepreneurship". www.prnewswire.com.
  6. "CO's Top 30 Leasing and Sales Brokers Under Age 30". Commercial Observer. October 5, 2016.
  7. Sharf, Samantha. "How A 28-Year-Old Plans To Upend The $81 Trillion Global Real Estate Investment Market". Forbes.
  8. "#67: How to Disrupt a Massive Market: Innovations in Real Estate Featuring the Co-Founder & CEO of Cadre, Ryan Williams". IVYtv. August 25, 2017. Retrieved September 13, 2017.
  9. "Ryan Williams - Cadre Real Estate". The Real Deal New York.
  10. Vardi, Nathan. "Ryan Williams, 30, Started A Revolutionary $800M Fintech. But Can He Escape His Kushner-Trump Connection?". Forbes.
  11. Communications, Forbes Corporate. "Forbes Releases Fourth Annual Fintech 50 List: The Future of Your Money". Forbes.
  12. "Cadre inks $250M deal with Goldman Sachs". Inman. Retrieved January 13, 2018.
  13. "Goldman Commits $250 Million in Client Money to Real Estate Startup Cadre". Bloomberg.com. January 10, 2018. Retrieved January 13, 2018.
  14. Williams, Ryan (October 14, 2020). "Opinion: Investing in Black-owned banks key to ending racial disparities". CNBC. Retrieved October 22, 2020.
  15. "LendIt USA 2017 speaker Ryan Williams". www.lendit.com.
  16. "A Conversation with Cadre's Ryan Williams". TheFR.com.
  17. "About Veritas Financial Group".
  18. Morris, Meghan. "Cadre: It's who and what you know" (PDF). PERE News. PEI. Retrieved September 13, 2017.
  19. "Cadre CEO Ryan Williams: Hire people you have no business hiring". www.bizjournals.com.
  20. Majewski, Taylor. "Three-year-old Cadre raises $65 million from Andreessen Horowitz". Built In NYC. Built In NYC. Retrieved September 13, 2017.
  21. "Google and Facebook employees are flocking to a startup that's raised ~$70 million to shake up the real estate world". Business Insider.
  22. "How this 50-person startup is planning to completely transform the real estate industry". Built In NYC.
  23. "Cadre". Inc.com.
  24. "Cadre's Ryan Williams". May 9, 2016.
  25. "Cadre CEO Says Data Processes, Services Give Them an Edge". Bloomberg.com.
  26. Lawler, Ryan. "Find out how startups are transforming real estate investing at Disrupt NY". TechCrunch.
  27. https://fortune.com/2020/06/19/juneteenth-economic-justice-cadre-ceo/
  28. https://twitter.com/SquawkCNBC/status/1275766812454592512
  29. https://www.forbes.com/sites/stevenbertoni/2020/06/06/in-moving-talk-americas-top-black-business-figure-robert-smith-envisions-the-blessing-that-can-emerge-from-current-tragedies/#a5300ec6d799
  30. Locker, Melissa (January 16, 2019). "Lil Wayne helps Cadre CEO and cofounder Ryan Williams get ready for big presentations". Fast Company. Retrieved May 23, 2019.
  31. Business, Matt Egan, CNN. "Meet the 31-year-old African American CEO aiming to revolutionize real estate investing". CNN. Retrieved May 23, 2019.
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