America’s second-richest Black individual David Steward, has seen a notable increase in his wealth, surging by $280 million in the last six days. This adds to his remarkable achievement in 2023 when he became the Black billionaire with the highest wealth gain, surpassing $4 billion.
The billionaire’s impressive gain, bolstered by his stake in St. Louis-based World Wide Technology (WWT), solidifies his position among the world’s wealthiest individuals. According to the Bloomberg Billionaires Index, Steward’s fortune increased by $280 million over the past 6 days, from $9.52 billion on Feb. 3 to $9.80 billion as of Feb. 9.
Steward’s wealth soars as World Wide Technology stakes peak at $9.8 billion
The significant boost in Steward’s net worth which translates to an average daily gain of $46.7 million is primarily attributed to the performance of his substantial 59-percent stake in WWT, a closely held information services and hardware provider.
WWT, one of the largest African-American-owned businesses in the United States, is a major player in cloud computing, security services, and digital consulting, raking in $17 billion in yearly revenue. Steward’s stake in WWT is now worth $9.8 billion, up from $9.52 billion on Feb. 3, driving his wealth surge.
His $9.8-billion net worth elevates Steward to 234th spot in global rankings
With a net worth of $9.8 billion, Steward now holds the 234th spot among the world’s wealthiest individuals. He is surpassed by Sandra Ortega Mera, daughter of Amancio Ortega, co-founder of Inditex, the world’s largest clothing retailer, who inherited the title of Spain’s richest woman after her mother’s passing.
Steward’s diverse portfolio includes a $16.1-million stake in Centene Corporation, a prominent healthcare services provider in the United States, alongside his holdings in WWT. His journey and financial achievements serve as inspiration for emerging Black entrepreneurs and business leaders.
His recent wealth increase solidifies his role as a key figure in the tech industry, propelling the growth of Black-owned enterprises. With the tech industry’s robust momentum, Steward’s net worth is anticipated to continue rising. His well-organized portfolio and strategic investments position him for ongoing success in the future.
