David Steward’s journey from grassroots origins to becoming one of America’s most successful entrepreneurs is a powerful testament to perseverance, faith, and visionary leadership. As the founder and chairman of World Wide Technology (WWT), he has built a multibillion-dollar enterprise, cementing his status among the nation’s wealthiest individuals.
Recognized as the wealthiest African American man in the country, Steward boasts a staggering net worth of $11.4 billion, according to Forbes. He is among the rare one percent of Black entrepreneurs or executives to earn a spot on the prestigious list.
Yet, his story is about more than financial success. Rising from modest beginnings, Steward’s resilience and dedication to technology, family, and community have set him apart, making him not just a business leader but an inspiring force for positive change.
Early Life: Overcoming Adversity
Born in 1951 in Chicago, Illinois, David Lloyd Steward was the son of Dorothy Elizabeth Massingale, a homemaker, and Harold Lloyd Steward, a mechanic. In 1953, the family moved to Clinton, Missouri, where Steward faced the harsh realities of segregation and poverty. He vividly recalls experiences of discrimination, such as attending segregated schools and being barred from public facilities. These early challenges instilled in him a resilience and determination that would later fuel his entrepreneurial spirit.
Educational Foundation and Early Career
In 1973, Steward earned a Bachelor of Science in Business from Central Missouri State University. He began his professional journey as a production manager at Wagner Electric, followed by sales roles at Missouri Pacific Railroad Company and Federal Express. At FedEx, his exceptional sales performance earned him recognition as Salesman of the Year and induction into the company’s Hall of Fame in 1981.
Entrepreneurial Ventures: Laying the Groundwork
In 1983, leveraging his experience in sales and logistics, Steward founded Transportation Business Specialists, an auditing company focused on transportation. This venture gave him valuable insights into business operations and the importance of client relationships. However, it was in 1990 that Steward took a significant leap by co-founding World Wide Technology, aiming to provide innovative IT solutions to a burgeoning technology market.
Building World Wide Technology: Vision and Growth
The early years of WWT were fraught with challenges. Steward often went without a paycheck and even witnessed his car being repossessed from the office parking lot. Despite these setbacks, he remained steadfast in his vision. A pivotal moment came in 1994 when WWT partnered with Cisco Systems, which helped stabilize the company’s finances. By focusing on enterprise-wide imaging, conversion services, and telecommunication networks, WWT began to carve out a niche in the IT sector.
“It’s all about culture. If you can get the right people with the right mindset, the right core values, and the ability to change on a dime, then you can invest and do what’s best for the health and long-term value proposition of the business,” says David.
Achieving Milestones: A Billion-Dollar Enterprise
Under Steward’s leadership, WWT experienced exponential growth. In 2003, the company’s annual sales surpassed $1 billion, marking its emergence as a major player in the technology industry. By 2023, WWT’s revenue had soared to $17 billion, serving an impressive roster of clients, including Citi, Verizon, and the federal government. Today, WWT employs approximately 10,000 people and is valued at over $20 billion.
Recognition and Net Worth
Steward’s success has not gone unnoticed. In 2024, he was recognized as the wealthiest Black person in America, with a net worth of $11.4 billion, ranking him 84th on the Forbes 400 list. This remarkable achievement underscores his status as a trailblazer in the technology sector and a role model for aspiring entrepreneurs.
Philanthropy and Community Engagement
Beyond his business acumen, Steward is deeply committed to philanthropy and community service. In 2018, he donated $1.3 million to the University of Missouri-St. Louis established the David and Thelma Steward Institute for Jazz Studies, reflecting his passion for the arts and education. He also supports various organizations that promote diversity and inclusion, such as the National Urban League and the Boy Scouts of America.
A Legacy of Faith and Perseverance
Throughout his journey, Steward has credited his faith and adherence to biblical principles as guiding forces in his life and business. In his book, “Doing Business by the Good Book,” he shares lessons on integrating faith with professional endeavors. His story serves as a powerful reminder that with determination, integrity, and a clear vision, it is possible to overcome adversity and achieve extraordinary success.
David Steward’s life exemplifies the quintessential American dream. From modest beginnings, he built a global enterprise, amassed significant wealth, and made substantial contributions to society. His legacy continues to inspire countless individuals to pursue their passions and strive for excellence.
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