David Steward, an IT entrepreneur from Missouri, has been named the richest Black person in America, according to the 2024 Forbes 400 list of wealthiest Americans.
Steward, 73, has a net worth of $11.4 billion, marking a significant rise from $7.6 billion in 2023 and $6 billion in 2022.
Steward is the founder and majority owner of World Wide Technology, an IT service provider that works with top companies like Apple, Microsoft, and the U.S. government. In 2023, WWT had sales of $17 billion.
The company was started in 1990 with an initial investment of $250,000, and over the years, it has grown into a leading tech firm.
Steward’s journey to success was not easy. Born in Clinton, Missouri, he grew up in the segregated South, where his father worked multiple jobs to support their large family.
After graduating from Central Missouri University, Steward worked in sales for companies like Missouri Pacific Railroad, Union Pacific, and FedEx. In 1983, he purchased his first business with the help of loans from local banks, which led to the creation of World Wide Technology.
Speaking about his rise from humble beginnings, Steward said, “It takes getting past your fears. It’s having much faith in the possibilities… and being able to put everything on the line because you know you’ve been called upon to do something very special.”
Steward is one of only 25 billionaires who have achieved a maximum score on Forbes’ self-made scale, indicating his true “rags-to-riches” story. He ranks 84th overall in the 2024 list, up from 121st in 2023.
Reflecting on his achievements, Steward told *Forbes* in 2019, “It’s something to celebrate, but gosh, there’s still a lot more to do… I hope what this represents is that all things are possible. We still live in the greatest country in the world, and God blesses persons of color too.”
Other Black billionaires on the 2024 Forbes 400 list include private equity billionaire Robert Smith, Palantir co-founder Alexander Karp, and NBA legend Michael Jordan.
