David Steward, founder and chairman of World Wide Technology (WWT), has been named the wealthiest Black person in America, according to Forbes’ 2024 list of the wealthiest Americans.
Steward’s fortune reached a record-breaking $11.4 billion this year, a substantial rise from $7.6 billion in 2023 and $6 billion the year before.
His firm, WWT, an IT services provider based in St. Louis, Missouri, serves corporate giants such as Apple, Citi, and Microsoft, and reported sales of $17 billion in 2023.
Steward, 73, ranks 84th on the Forbes 400 list and is joined by Robert F. Smith, the CEO of Vista Equity Partners, whose wealth has grown to $10.8 billion.
Other Black billionaires on the list include Palantir co-founder Alexander Karp ($3.6 billion) and NBA legend Michael Jordan ($3.5 billion), with Jordan having secured his position after selling his majority stake in the Charlotte Hornets.
What we know about America’s richest black man
Born in Clinton, Missouri, and raised in a segregated environment, Steward’s journey from humble beginnings to billionaire status has become an emblematic “rags-to-riches” narrative.
After graduating from Central Missouri University, he embarked on a corporate career, starting as a production manager at Wagner Electric (1974–1975), followed by a role as a sales representative at Missouri Pacific Railroad Company (1975–1979). He later became a senior account executive at Federal Express (1979–1984), where his talent in sales was recognized; he was named Salesman of the Year and inducted into FedEx’s Hall of Fame in 1981.
In the years leading up to founding WWT in 1990, Steward owned and operated Transportation Business Specialists and Transport Administrative Services, which laid the groundwork for his future in logistics and technology. He also co-founded Telcobuy, a global technology and supply chain management firm that further expanded his reach in the industry.
What you should know
He co-founded WWT in 1990 with just $250,000, and the firm has since expanded into one of the largest privately-held IT companies in the world. Steward’s entrepreneurial success has been recognized by Forbes, earning him a “self-made” score of 10, a rare distinction reserved for billionaires who have built their fortunes from the ground up.
In addition to his rise in personal wealth, Steward’s ranking highlights the low representation of Black Americans on the Forbes 400 list, with only four individuals meeting the $3.3 billion threshold in 2024. Despite this, Steward remains optimistic about future prospects for entrepreneurs of color, stating in a 2019 Forbes interview, “We still live in the greatest country in the world, and God blesses persons of color too.”
His achievement, while significant, shows the work still to be done for greater representation in the upper echelons of wealth. Steward himself acknowledges this, saying, “It’s something to celebrate, but gosh, there’s still a lot more to do.”
Steward’s rise, along with Smith, Karp, and Jordan, reflects the growing influence of Black entrepreneurs in tech, finance, and sports.
Credit: Deborah Don Awoh
