*Forbes’ annual Forbes 400 list is out and the richest Black man in America has been crowned. Afrotech reports that the honor belongs to World Wide Technology (WWT) founder and chairman David Steward, whose estimated net worth of $11.4 billion tied him for the No. 84 spot on the Forbes list.
An IT management company, World Wide Technology was launched by Steward and Jim Kavanaugh in 1990. Decades later, it is noted for being a a solution provider for more than 80 Fortune 100 companies, with partners such as Cisco, NVIDIA, Verizon, and the federal government., according to the WWT website.
Financially speaking World Wide Technology earns more than $20 billion annually as well as $6 billion internationally, Afrotech mentioned. Weighing in on his success, Steward cites America itself as he highlights multiple opportunities to reach his level.
“The breadth and depth of opportunities we have here, coupled with a culture that allows you to be all you can be, makes it possible for anyone to be successful,” the 73-year-old billionaire businessman said, according to the Horatio Alger Association. “We have a competitive edge over other countries, and we need to preserve that. It’s great that my story is only one of millions in America. I feel blessed to live in this great country.”
Steward is among a high-powered list of folk who made Forbes’ definitive ranking of the country’s richest people. Those highlighted on the list had to have brought in at least $3.3 billion. The amount is a $400 million increase from the outlet’s 2023 list. Overall, a $1 trillion rise from last year is pointed out for the net worths, which total $5.4 trillion.
In addition to Steward, the Forbes 400 list included Robert F. Smith, the founder, chairman, and CEO of private equity firm Vista Equity Partners.
The Cornell University grad, a former chemical engineer, was ranked No. 88 with a net worth of $10.8 billion.
Launched in 2000 by Smith, Vista Equity Partners currently has more than $100 billion in assets.
It most recently allied with Blackstone, a New York City-based investment management company, to acquire Smartsheet, an enterprise platform for modern work management, for a reported $8.4 billion.
Afrotech reports the deal between the companies aims to close by Jan. 31, 2025.
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