David L. Steward was raised in the segregated South and co-founded World Wide Technology
IT entrepreneur David Steward is the wealthiest African American man in the nation. According to Forbes, his net worth is at a record $11.4 billion dollars, making him part of the only one percent of Black entrepreneurs or executives on the impressive list.
The multi-billionaire has a true “rags to riches” story, but his fight and dedication to technology, family, and all people sets him apart from others in the business.
This is the evolution of David L. Steward.
Steward was born in Chicago, but his family moved to Missouri when he was a child, according to NMSDC. He was raised in the segregated South with his seven siblings. His father worked as a mechanic, janitor, and trash collector to support his family.
The Central Missouri University alumnus graduated in 1973 with a Bachelors of Science in business.
Soon after graduating, the Missouri native pursued a career in sales with Missouri Pacific Railroad, Union Pacific $UNP, and FedEx $FDX. He was even named salesman of the year at FedEx.
Steward and his wife, Thelma, married in 1977. The couple has been married for almost 50 years.
In 1983, the businessman bought his first business, an auditing company named Transportation Business Specialists, with several loans from local banks across Missouri.
Steward co-founded World Wide Technology (WWT) in 1990. During the early years of the company, he faced financial hardships, at times forgoing a paycheck and witnessing his car being repossessed from the office parking lot.
Despite the setbacks, the 73-year-old billionaire businessman said “The breadth and depth of opportunities we have here [in the U.S.], coupled with a culture that allows you to be all you can be, makes it possible for anyone to be successful,” according to the Horatio Alger Association.
WWT soon expanded to offer full-scale technology solutions— “ranging from cloud computing and data analytics to cybersecurity and digital transformation services,” according to Black Engineer.
When the company secured contracts with government agencies and Fortune 500 companies, it positioned itself as a trusted technology leader.
Now, the company employs over 10,000 people and rakes in over $20 billion in annual revenues and over $6 million in international income.
The billionaire is no stranger to supporting political campaigns. In 2023, Sen. Tim Scott tapped Steward to be the finance chair of Scott’s 2024 presidential campaign, according to CNBC.
He serves on the Executive Committee of Greater St. Louis, Inc. and the boards of National Academy Foundation (NAF), United Way of Greater St. Louis, Concordance Academy, Washington University, Variety the Children’s Charity of St. Louis, Boy Scouts of America and many other organizations.
Steward holds an Honorary Doctor of Laws from Washington University. He also has an Honorary Doctorates in Humane Letters from several colleges and universities.
The businessman has two children, Kimberly and David II. Kimberly is an Oscar-nominated film producer, and David II leads Lion Forge Animation, a media company dedicated to diverse storytelling.
The David and Thelma Steward Family Foundation— named after the billionaire and his wife— provides millions in donations to causes related to education, youth development, military families, and underserved communities, according to Black Engineer.
This year, Steward beat out Vista Equity Partners founder Robert Smith for the no. 1 spot on Forbes’ Richest Black People list. Smith, who’s net worth comes in at $10.8 billion, ranks no. 88 on Forbes 400 list. Steward comes in at no. 84
