David Steward has firmly established himself as the wealthiest Black person in America, according to Forbes’ prestigious list of the richest Americans. His remarkable ascent has seen his net worth soar to an astounding $11.4 billion, a significant jump from $7.6 billion just a year ago and $6 billion the year before that. The IT entrepreneur, based in St. Louis, Missouri, is the founder and chairman of World Wide Technology (WWT), a global technology company that has propelled him to the forefront of Black billionaires. Not only does he surpass private equity mogul Robert Smith, whose wealth is estimated at $10.8 billion, but Steward also stands out as one of the few Black entrepreneurs to reach such impressive financial heights.
Steward’s inclusion in the 2024 Forbes 400 is a significant milestone, as he is one of only four Black individuals to make the list. With a minimum net worth requirement of $3.3 billion, this year’s ranking is the most exclusive in its history. Alongside Steward are fellow Black billionaires Robert Smith, Palantir cofounder Alexander Karp, who debuts with a net worth of $3.6 billion, and legendary basketball icon Michael Jordan, valued at approximately $3.5 billion. Despite the growing influence of Black entrepreneurs, they represent just 1% of the overall ranking, underscoring the stark underrepresentation of Black wealth in America’s upper financial echelons…