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The Steward family, known for their vast Black fortune and successful business ventures, is turning their attention to the film and television industry.
The family, through David Steward II, the son of David Steward, America’s second-richest Black billionaire, is actively seeking funding to further their efforts to create inclusive content through their Oscar-winning production studio, Lion Forge Animation.
According to Bloomberg, Lion Forge Animation is looking to raise as much as $50 million from the investment companies of wealthy families and institutional firms. The animation business plans to expand its staffing levels, media library and acquisition efforts with the new funds.
David Steward II has established himself as a leader in promoting racial diversity in the film and television industry through his founding of Lion Forge Animation in 2019 and ownership of comic book businesses through his holding company, Polarity.
His father, David Steward, a leading U.S. technology billionaire, has made a concerted effort to address racial inequalities through his business dealings, including having World Wide Technology sponsor Black NASCAR driver Bubba Wallace.
He has vowed to promote diversity in the National Hockey League as part of a local investor group that owns the St. Louis Blues team, while the family’s foundation provides money to initiatives throughout St. Louis.
In 2022, HBO Max and Cartoon Network announced a 2D animated adaptation of “Iyanu: Child of Wonder,” a Dark Horse Comics/YouNeek Studios graphic novel series heavily influenced by the Yoruba people of Nigeria.
The project will be financed and overseen by the Black-owned animation studio Lion Forge Animation. “Iyanu: Child of Wonder” is a superhero tale set in the magical kingdom of Yorubaland, which draws from Nigerian culture, music, and mythology.
The Steward family has a net worth of $5.7 billion, mainly from their controlling stake in World Wide Technology, a successful cloud computing company and the largest privately-owned Black-owned business in the United States.
The family’s efforts to create racially diverse film and television content are admirable and much-needed in an industry long chastised for its lack of diversity.
The Stewards have the potential to make a significant impact on the industry with their vast resources and influence, and it will be exciting to see the results of their fundraising efforts and the projects they bring to life.
