In 1990, he cofounded WWT and remains chairman of the $10.4 billion (sales) business, which sells hardware and software to customers like Verizon, Citi and the federal government. After graduating from Central Missouri State University, he sent out 400 résumés in three years before landing his “dream job” at Missouri Pacific Railroad. Steward grew up with seven siblings on a small farm in Missouri where he was responsible for milking the cows and slopping the hogs before school every day while his dad worked as a mechanic, trash collector and janitor to make ends meet. Louis-based IT provider World Wide Technology, also makes his debut on The Forbes 400. She is the youngest woman on The Forbes 400, with a fortune estimated at $3 billion.ĭavid Steward, the majority owner of St. Snyder has been president since 2010 and during that time has opened more than 80 In-N-Out locations. She became a billionaire when she turned 35 last year and received the final portion of her inheritance. The animation studio intends to use the funds to expand its media library, increase staffing levels, and pursue strategic acquisitions.Another newcomer is Lynsi Snyder, the heir to burger chain In-N-Out, which her grandparents founded in 1948. Lion Forge Animation aims to secure up to $50 million in funding from wealthy family investment companies and institutional firms. David Steward II, Steward’s son, is spearheading this effort. To expand their presence in the film and television industries, Steward’s family is seeking funding to support the production of inclusive content through their Oscar-winning studio, Lion Forge Animation. Louis-based World Wide Technology, which provides cloud computing and security services, and digital consulting, Steward also holds a $14-million stake in Centene Corporation, a healthcare services provider operating across the United States. Smith, who is not only America’s wealthiest Black billionaire but also the world’s second-richest Black billionaire. Steward continues to hold the position of America’s second-richest Black individual, with a net worth of $5.6 billion, trailing behind Robert F. Steward’s net worth has risen by $984 million since the beginning of this year, putting him in the exclusive club of Black billionaires who have experienced over $900 million bump in their wealth. The $400 million bump in his net worth makes David Steward one of the few Black billionaires to experience a significant increase in wealth in 2023. Steward’s stake in World Wide Technology accounts for almost the entirety of his $6 billion fortune. World Wide Technology’s valuation is based on the enterprise value-to-sales multiple of three publicly traded peer companies: Insight Enterprises, Eplus, and CDW. Thanks to the recent surge in the valuation of his holdings in his closely held information technology services provider, World Wide Technology, Steward has made up for the loss and then some. Steward, who ranks as America’s second-richest Black billionaire, saw his net worth slump earlier this year due to the pullback in tech stocks, causing a wealth loss of $570 million. David Steward, one of the world’s wealthiest Black billionaires, has experienced a significant increase in his net worth in the past 28 days thanks to the recent revaluation of his privately held tech firm, World Wide Technology.Īccording to Forbes, David Steward’s wealth figures have increased by $400 million, from $5.6 billion on April 13 to $6 billion.
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