David Steward is the richest Black man in America.
Forbes has released their annual Forbes 400 list, a definitive ranking of the country’s richest people. Featured individuals had to earn at least $3.3 billion, which was an increase of $400 million from the year prior. In total, the net worths totaled $5.4 trillion, which was a $1 trillion increase from 2023.
Among the listed individuals is Steward, who is tied for No. 84 with a net worth of $11.4 billion. Steward leads World Wide Technology, an IT management company, as the founder and chairman.
He launched the company in 1990 and today it has become a solution provider for over 80 Fortune 100 companies, its website states. Some of its partners include Cisco, NVIDIA, Verizon and the federal government.
“Our expertise in AI, cloud, networking, cybersecurity, data analytics, automation, digital transformation and more allows us to deliver groundbreaking solutions that redefine businesses, revolutionize industries, transform communities and exceed expectations. We don’t just envision a better future — we create it,” a statement on the company website reads.
What’s more, World Wide Technology is earning over $20 billion annually and $6 billion internationally.
Steward credits his success to being raised in the land of opportunity.
“The breadth and depth of opportunities we have here, coupled with a culture that allows you to be all you can be, makes it possible for anyone to be successful,” said the 73-year-old billionaire businessman, according to the Horatio Alger Association. “We have a competitive edge over other countries, and it is important for us to preserve that. It’s great that my story is only one of millions in America. I feel blessed to live in this great country.”
Also landing on the Forbes 400 list, earning spot No. 88 is Robert F. Smith, with a net worth of $10.8 billion.
As AFROTECH™ previously mentioned, Smith was a former chemical engineer who desired to be on the other side of the equation, eventually forging the launch of Vista Equity Partners in 2000. The private equity firm now has over $100 billion in assets and most recently acquired Smartsheet, an enterprise platform for modern work management, in collaboration with investment management company Blackstone for a reported $8.4 billion. The deal aims to close by Jan. 31, 2025.
