David Steward Becomes the Highest-Ranked Black Billionaire on 2024 Forbes 400 List

David Steward has reached an impressive milestone as the highest-ranked Black person on the 2024 Forbes 400 list. He is tied at 84th place with a net worth of $11.4 billion.

David Steward is the founder and chairman of World Wide Technology (WWT), a major IT company he started in 1990. Today, he owns most of the $20 billion business, which serves major clients like Citi, Verizon, and the U.S. government.

Steward’s journey to success wasn’t easy. At 73 years old, he looks back at his humble beginnings in the segregated South. He was one of eight children, and his father worked several jobs, including as a mechanic and trash collector, to support the family.

How David Steward Became a Billionaire

After earning a degree from Central Missouri University, David Steward worked in sales for companies like Missouri Pacific Railroad, Union Pacific, and FedEx. In the early days of WWT, he struggled financially—he recalls seeing his car repossessed from his office parking lot.

Despite the challenges, Steward believes in the American Dream. “The opportunities here, along with a culture that lets you reach your full potential, make it possible for anyone to succeed,” he said in an interview with the Horatio Alger Association.

“We have an advantage over other countries, and we must protect that. I feel lucky to live in this great country.”

Steward has also made a big impact through his charitable work. In 2018, he donated $1.3 million to the University of Missouri-St. Louis to create the David and Thelma Steward Institute for Jazz Studies.

He is involved in several organizations that promote diversity and inclusion, such as the National Urban League, Boy Scouts of America, NPower, and the Jackie Joyner-Kersee Foundation.

His support for social causes extends to the family of Wendell Scott, the first African American NASCAR driver to win a race. Steward’s efforts helped NASCAR finally recognize Scott’s achievement in 2021—58 years after his historic win. The trophy was presented to Scott’s family long after his passing.

Another Black billionaire who made the Forbes 400 list is Robert F. Smith, who ranked 88th. Both Steward and Smith serve as inspirations, showing the power of determination and the importance of giving back.