America’s second-richest Black man, David Steward, shines as a versatile figure – an entrepreneur, civic leader, philanthropist, and the visionary founder and chairman of World Wide Technology (WWT), the largest Black-owned U.S. company.
WWT, founded by Steward, is a St. Louis-based IT services provider. With a dedicated team of about 9,000, they achieve an impressive $17 billion in annual revenue, offering services like cloud computing and digital consulting.
Steward is ranked 260th on the Bloomberg Billionaires Index, with a net worth of $8.29 billion, showing a year-to-date increase of $3.28 billion. Most of Steward’s wealth comes from his 59 percent ownership of WWT, a company he co-owns with Jim Kavanaugh.
Today, he proudly owns the $17-billion company, serving clients like Citi, Verizon, and the federal government. His commitment to giving back is evident in his $1.3-million donation to the University of Missouri-St. Louis.
Steward’s story is one of entrepreneurial triumph, resilience, and unwavering dedication to business excellence and community betterment.
Billionaires.Africa highlights four companies under his ownership:
- World Wide Technology
World Wide Technology (WWT), established by Steward in 1990 as a systems integrator, has since blossomed into the largest Black-owned company in the United States. By 1993, WWT had refined its focus to specialize in enterprise-wide imaging, conversion services, and telecommunication networks. In 2018, World Wide Technology proudly ranked among St. Louis’ largest private enterprises, boasting revenues estimated at over $11 billion. Steward, the majority owner, commands a significant stake in WWT valued at $8.37 billion. - Telcobuy
Founded in 1999 by Steward and Jim Kavanaugh, Telcobuy.com is a St. Louis-based technology and supply chain management powerhouse. Offering a wide array of services, including enterprise networking, data center security, and IT hardware solutions. In 2009, under the visionary leadership of Steward and Kavanaugh, it forged a formidable partnership with IBM, earning recognition as a Cisco Certified Gold Partner. The company’s remarkable journey saw its revenue soar to $1 billion by 2003. In 2018, it stood tall among St. Louis’ premier private enterprises, with revenues scaling past $11 billion.
- Centene Corporation
Centene Corporation, a distinguished Fortune 500 company, is a healthcare juggernaut dedicated to enhancing lives through better health. With a distinctive local approach, driven by regional teams and brands, Centene’s influence spans far and wide. Steward’s investment in Centene is presently valued at $15.4 million, underscoring his diverse portfolio. The company extends its services through strategic collaborations with healthcare and commercial organizations, offering a comprehensive spectrum of specialized services aimed at holistic well-being.
- The Steward Family Foundation
The Steward Family Foundation, championed by the philanthropic duo David and Thelma Steward, stands as a distinguished private foundation rooted in St. Louis. In 2022 alone, the foundation made an impactful series of nine grants, reflecting the enduring legacy of their parents’ commitment to charitable causes. The Steward family exhibits a steadfast dedication to thoughtful and consistent giving across a spectrum of meaningful initiatives.
