According to Forbes’ 2024 list of the wealthiest Americans, David Steward, founder and chairman of World Wide Technology (WWT), has been declared the wealthiest Black person in America.
Growth of Steward’s Fortune
Steward’s wealth has reached an impressive $11.4B this year, significantly up from $7.6B in 2023 and $6B the previous year. His company, WWT (an IT services firm based in St. Louis), works with major corporations like Apple, Citi, and Microsoft, with sales totaling $17B in 2023. At age 73, Steward ranks 84th on the Forbes 400 list of the richest Americans, alongside other Black billionaires like Robert F. Smith ($10.8B), Alexander Karp ($3.6B), and Michael Jordan ($3.5B).
Steward’s Background
Born in Clinton, Missouri, and raised in a segregated society, Steward’s journey from a modest background to becoming a billionaire represents a classic “rags-to-riches” story. He grew up with seven siblings and a father who worked as a mechanic, janitor, and trash collector.
After finishing college at Central Missouri University, he started his career as a production manager at Wagner Electric, then moved to sales roles, eventually becoming a top sales executive at FedEx, where he was recognized for his achievements; being named Salesman of the Year and inducted into FedEx’s Hall of Fame in 1981.
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Before founding WWT in 1990, Steward gained experience in logistics and technology through his earlier companies, Transportation Business Specialists and Transport Administrative Services. These ventures, along with co-founding Telcobuy, a global tech and supply chain company, laid the foundation for his future success in the IT industry
Steward started WWT in 1990 with just $250,000, and it has since grown into one of the largest privately-owned IT companies worldwide. His entrepreneurial achievements earned him a “self-made” score of 10 from Forbes, a rare rating for those who built their wealth entirely on their own.
Final Thoughts
The rise of Black entrepreneurs like Steward, Robert F. Smith, Alexander Karp, and Michael Jordan demonstrate the increasing impact of Black leaders in industries such as technology, finance, and sports, showcasing the evolving landscape of wealth and influence.
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