Altman is an educated lawyer. He later became part of the company BCCI. During his time there he was accused of helping the business buy an American bank and lying to US regulators about it. In 1992, he was indicted for eight felony charges in New York. Altman maintained that he himself was duped by the bank. He was acquitted of all charges, though he did agree to be banned from banking to settle a civil suit by the Federal Reserve.
After leaving law, Robert became chairman and CEO of ZeniMax Media.
Robert, a Jewish American, is the son of Norman Altman and Sophie Robinson. Sophie, who died from heart disease in 2008, was a television producer of the academic game show "It's Academic". Robert is one of 4 children.
On January 29, 1984 Robert married Wonder Woman television series actress Lynda Carter. She makes an appearance in Fallout 4, voicing a character as well as recording several songs for its soundtrack. Together they have two children, James and Jessica Altman. They currently live in the Potomac area of the United States, near Washington, D.C.