David Steward’s Net Worth + 9 Things About The Billionaire

David Steward has firmly established himself as the wealthiest Black person in America, according to Forbes’ prestigious list of the richest Americans. His remarkable ascent has seen his net worth soar to an astounding $11.4 billion, a significant jump from $7.6 billion just a year ago and $6 billion the year before that. The IT entrepreneur, based in St. Louis, Missouri, is the founder and chairman of World Wide Technology (WWT), a global technology company that has propelled him to the forefront of Black billionaires. Not only does he surpass private equity mogul Robert Smith, whose wealth is estimated at $10.8 billion, but Steward also stands out as one of the few Black entrepreneurs to reach such impressive financial heights.

Steward’s inclusion in the 2024 Forbes 400 is a significant milestone, as he is one of only four Black individuals to make the list. With a minimum net worth requirement of $3.3 billion, this year’s ranking is the most exclusive in its history. Alongside Steward are fellow Black billionaires Robert Smith, Palantir cofounder Alexander Karp, who debuts with a net worth of $3.6 billion, and legendary basketball icon  Michael Jordan, valued at approximately $3.5 billion. Despite the growing influence of Black entrepreneurs, they represent just 1% of the overall ranking, underscoring the stark underrepresentation of Black wealth in America’s upper financial echelons.

While David Steward’s rise is remarkable, the 2024 Forbes 400 remains dominated by familiar names in the broader billionaire landscape. For the third consecutive year, Elon Musk tops the list with an unmatched fortune of $244 billion, despite a slight decline in his wealth. His leadership in innovative sectors such as space exploration, electric vehicles, and social media keeps him well ahead of his closest rival, Jeff Bezos, the Amazon founder, whose net worth stands at $197 billion. Mark Zuckerberg of Meta has also ascended to third place, with an estimated wealth of $181 billion.

Alice Walton continues to be the richest woman in the U.S., with a fortune of $89.2 billion derived from Walmart’s success, while Diane Hendricks holds the title of the wealthiest self-made woman, highlighting the growing presence of female billionaires on the Forbes 400. Despite a slight increase in their numbers, women still remain underrepresented, much like Black entrepreneurs, underscoring the persistent gender and racial disparities in American wealth distribution.

With a net worth of $11.4 billion, David Steward’s story is one of perseverance, innovation, and leadership amid significant challenges. Here are ten key facts to know about this remarkable billionaire.

Here are 10 things to know about American billionaire David Steward…

#1. David Steward’s Net Worth

As of 2024, David Steward has a net worth of approximately $11.4 billion, positioning him among the wealthiest individuals globally. His wealth primarily comes from his ownership stake in World Wide Technology, the largest Black-owned business in America. The company’s remarkable growth has solidified Steward’s presence on the Forbes billionaire list, making him one of the richest African Americans today.

#2. Founder and Chairman of World Wide Technology (WWT)

David Steward founded World Wide Technology (WWT) in 1990. WWT is a technology service provider that specializes in delivering cutting-edge IT and consulting services to Fortune 500 companies and government agencies. Under Steward’s leadership, the company has transformed into a global powerhouse in the IT industry, generating billions in annual revenue and employing over 9,000 people.

#3. Humble Beginnings

Despite his billionaire status, David Steward’s journey to success began with humble roots. Born in 1951 in Chicago, Illinois, he grew up in a small, segregated town in Missouri. His family faced financial struggles, and Steward often reflects on the hard work his parents put in to make ends meet. These early experiences of poverty and segregation profoundly shaped his character and fueled his determination to achieve something greater in life.

#4. Career Struggles Before Success

Before founding WWT, David Steward faced several setbacks in his career. After earning a business degree from Central Missouri State University, he held various sales positions at companies like Federal Express (now FedEx). However, he often encountered discrimination and challenges in the corporate environment, which inspired him to start his own business. His resilience and determination enabled him to overcome these obstacles and ultimately build WWT into a multibillion-dollar enterprise.

#5. Steward’s Family Life

Family is a cornerstone of David Steward’s life. He is married to Thelma Steward, and together they have two children, Ashley and David II. Steward frequently credits his family as a vital source of support and grounding throughout his business journey. Despite his busy schedule and billionaire status, he prioritizes maintaining a close-knit family and instilling values of faith, hard work, and humility in his children.

#6. Commitment to Diversity and Inclusion

As one of the few African American billionaires in the U.S., David Steward is a passionate advocate for diversity and inclusion. He has consistently emphasized the importance of creating opportunities for people of color, particularly in the tech industry. Under his leadership, WWT has made significant efforts to promote diversity within its workforce, positioning the company as one of the most diverse in the industry.

#7. Philanthropic Endeavors

Despite his immense wealth, David Steward is dedicated to giving back to his community. He and his wife, Thelma, are actively involved in philanthropy through the David and Thelma Steward Family Foundation, which aims to enhance education, health, and economic opportunities for underserved communities. Steward has also made significant contributions to various charitable organizations, particularly those that support minority education and entrepreneurship.

#8. Faith-Based Leadership

One of the lesser-known facets of David Steward’s life is his deep Christian faith. A devout Christian, Steward credits his faith as a guiding force in both his leadership and personal life. He often discusses how his belief in God has helped him navigate challenging times and how it informs his business decisions. Steward’s leadership style emphasizes values such as integrity, humility, and a commitment to serving others.

#9. WWT’s Rapid Growth and Innovation

World Wide Technology has seen remarkable growth under David Steward’s leadership. What began as a small tech firm with just a few employees has evolved into a global leader in IT services, serving clients such as Boeing, AT&T, and the U.S. government. This success can be attributed to Steward’s emphasis on innovation and customer satisfaction. The company consistently invests in emerging technologies, including artificial intelligence, cloud computing, and cybersecurity, ensuring it remains at the forefront of the tech industry.

#10. Recognition and Awards

David Steward’s contributions to business and philanthropy have garnered him numerous awards and recognitions over the years. He has been featured on Forbes’ list of the World’s Billionaires and is consistently acknowledged as one of the most influential African American business leaders. Additionally, Steward has received prestigious honors, including induction into the Horatio Alger Association of Distinguished Americans, celebrating his remarkable achievements against the odds.

Featured image: Horatio Algar Association

For the latest in fashion, lifestyle, and culture, follow us on Instagram @StyleRave_

—Read Also