David Steward, a tech entrepreneur, has claimed the title of America’s wealthiest Black person. His estimated net worth of $11.4 billion surpasses that of Robert F. Smith, the previous record holder. This remarkable achievement highlights Steward’s incredible journey from humble beginnings to tech industry titan.
Steward’s rise to the top spot showcases the potential for success in the technology sector. It also underscores the growing influence of Black entrepreneurs in America’s business landscape.
From Humble Beginnings to Tech Titan
Born in Chicago in 1951, Steward grew up during the era of segregation. He was raised alongside seven siblings, often facing challenging circumstances. At one point, he was the only Black student in his school.
Steward’s father worked various jobs to support the family. These included roles as a janitor, mechanic, and trash collector. Despite these modest beginnings, Steward pursued higher education with determination.
He earned a B.S. in business from Central Missouri State University in 1973. Later, he received honorary doctorates from Harris Stowe State University and Lindenwood University.
Building a Tech Empire: World Wide Technology
Steward’s crowning achievement is World Wide Technology (WWT), founded in 1990. Starting with just seven employees and a shoestring budget, WWT has grown into a powerhouse. Today, it stands as one of the largest Black-owned IT providers in the United States.
WWT boasts over 8,000 employees and generates more than $14.5 billion in annual revenue. The company specializes in various tech services. These include cloud capabilities, data center solutions, and security technologies.
Steward’s success with WWT stems from his ability to identify and meet market needs. The company serves both government and private sector clients, showcasing its versatility and expertise.
A Journey of Entrepreneurial Spirit
Before WWT, Steward honed his skills in various roles. He worked briefly as a substitute teacher and for the Boy Scouts of America. Later, he gained valuable experience at companies like Wagner Electric Corp and Missouri Pacific Railroad Company.
His time at Federal Express proved pivotal. Steward’s exceptional performance earned him recognition as the company’s best salesman. This achievement sparked his entrepreneurial ambitions.
With a $2,000 loan from his father, Steward launched his first venture. He founded Transportation Business Specialists, which audited freight bills for the rail industry.
Philanthropy and Recognition
Beyond his business success, Steward is known for his philanthropic efforts. He and his wife, Thelma, have been recognized for their community service. They received the Jane and Whitney Harris St. Louis Community Service Award.
Steward has also authored two books sharing his business insights. “Doing Business by The Good Book” was published in 2004. His second book, “Leadership by the Good Book,” came out in 2020.
His achievements have earned him numerous accolades. These include the 2012 Black Engineer of the Year award and the 2015 St. Louis Post-Dispatch Citizen of the Year honor.
