David Steward, the majority shareholder and co-founder of World Wide Technology (WWT), has further solidified his position as one of America’s wealthiest individuals and the second-richest Black billionaire in the nation, with his net worth surpassing the $10 billion milestone.
According to the Bloomberg Billionaires Index, which tracks the assets of the world’s wealthiest individuals, Steward has witnessed a notable surge in his net worth, climbing from $10.1 billion on Feb. 19 to $10.4 billion at the time of drafting this report, marking a $300 million increase in just 20 days.
WWT’s impact on David Steward’s fortune: A $300-million surge in just 20 days
This significant uptick in Steward’s net worth, averaging $15 million per day since Feb. 19, is primarily attributed to the outstanding performance of his substantial 59-percent stake in WWT, a closely held information services and hardware provider.
WWT, renowned as one of the largest African-American-owned businesses in the United States, plays a pivotal role in cloud computing, security services, and digital consulting, boasting an annual revenue stream of $17 billion. Steward’s stake in WWT now stands at $10.4 billion, reflecting a notable increase from $10.1 billion on Feb. 19, and driving his surge in wealth.
With the recent rise in his net worth, David Steward has accumulated year-to-date wealth gains exceeding $850 million, totaling $858 million, according to data retrieved from the Bloomberg Billionaires Index.
Steward’s $10.4-billion net worth reflects leadership among Black billionaires worldwide
Ranked as the world’s 233rd richest individual, Steward’s $10.4-billion net worth solidifies his standing as one of the world’s wealthiest Black billionaires and as the second-richest Black billionaire in the United States, trailing behind Smith, founder and CEO of Vista Equity Partners, who is worth $11.4 billion at the time of drafting this report.
Steward’s recent wealth surge underscores his prominence within the technology sector. With experts anticipating further increases in his net worth amid the robust performance of the tech industry, his investment positions him favorably for continued prosperity in the foreseeable future.
