David Steward
David Lloyd Steward | |
|---|---|
| Born | July 2, 1951 Chicago, Illinois, U.S. |
| Occupation | Entrepreneur |
| Known for | Founder and chairman of World Wide Technology |
David Lloyd Steward (born July 2, 1951) is an American billionaire entrepreneur, serving as chairman and founder of World Wide Technology, recognized as one of the largest African-American-owned enterprises in the United States. As of 2024, Forbes ranked him 344th on its billionaires list, estimating his net worth at approximately US$11.4 billion.
Early life
Steward was born in 1951 in Chicago, Illinois to Dorothy Elizabeth Massingale, a homemaker, and Harold Lloyd Steward, a mechanic. In 1953, his family relocated to Clinton, Missouri. Raised in an environment marked by poverty and racial segregation, he personally encountered discrimination, including attending segregated schools and limited access to public amenities. In 1967, he was among the first African-American students to integrate the public swimming pool in Clinton.
He completed a Bachelor of Science degree in business at Central Missouri State University in 1973.
Business career
Following graduation, Steward held several positions: production manager at Wagner Electric (1974–1975), sales representative at Missouri Pacific Railroad (1975–1979), and senior account executive at FedEx (1979–1984). During his tenure at FedEx, he was honored as salesman of the year and inducted into the company’s hall of fame in 1981. Prior to founding World Wide Technology, he owned Transportation Business Specialists and Transport Administrative Services. Additionally, he co-established Telcobuy, a global firm specializing in technology and supply chain management.
World Wide Technology
In 1990, Steward co-founded World Wide Technology, a systems integration company. By 1993, the firm concentrated on enterprise-wide imaging solutions, data conversion services, and telecommunications network infrastructure.
In 1999, the telecommunications segment of WWT was spun off to form Telcobuy.com. Despite experiencing a revenue decline during the 2002 technology sector downturn, combined revenues exceeded $1 billion by 2003. This milestone led Steward to create World Wide Technology Holding Company as the parent organization.
By 2018, WWT's revenue surpassed $11 billion, positioning it among the largest privately held companies in St. Louis.
Civic and community involvement
Steward has been active on numerous boards including Civic Progress of St. Louis; St. Louis Regional Chamber and Growth Association; Missouri Technology Corporation (appointed by the Governor); Webster University; BJC Health System; First Banks, Inc.; Saint Louis Science Center; United Way of Greater St. Louis; Greater St. Louis Area Council of Boy Scouts of America; and Harris–Stowe State University African-American Business Leadership Council. In 2011, Governor Jay Nixon appointed him to the University of Missouri board of curators; however, he resigned prior to completing his term.
Political activities
While serving on the board of trustees at Washington University in St. Louis in 2019, Steward endorsed a Missouri General Assembly bill that modified procedures for Title IX investigations at higher education institutions. The legislation was promoted by a lobbyist working for Steward, whose son had been expelled from Washington University following a Title IX violation.
Steward also acted as finance chair for the Trust In The Mission PAC, a super PAC supporting Senator Tim Scott’s 2024 Republican presidential bid. During 2024, he contributed roughly $230,000 to political action committees backing Republican candidates such as Mike Parson and Mike Kehoe.
Publications
- Doing Business by the Good Book (co-authored with Robert L. Shook)
Recognition
- Named among 100 Leaders for the Millennium by St. Louis Business Journal, 2000
- Featured in Ebony magazine's list of 100+ Most Influential Black Americans
- Ranked 14th Best American Entrepreneur by Success Magazine, 1998
- Awarded Missouri's Business Person of the Year by the Small Business Administration
- Honored as Company of the Year by Black Enterprise, 1999
- Recognized as Entrepreneur of the Year by Black Enterprise, 2000
- Recipient of Ernst & Young Entrepreneur of the Year, 1998
- Five-time recipient of the Fast 50 Awards
- Honored with Granville T. Woods Award for Outstanding CEO, 1997
- Twice named Minority Small Business Person of the Year by Small Business Administration, 1997 and 1998
- Received Phoenix Award from St. Louis Minority Business Council, 2000
- Inducted into Small Business Association Hall of Fame, 2001
- Distinguished Executive honor from American Marketing Association, 1996
- Company ranked among Top 100 Industrial/Service Companies by Black Enterprise: 11th (1998), 6th (1999), and 1st place (2000 & 2001)
- Included in Top 100 St. Louis Leaders list, 2002
- Recognized as Top Minority Entrepreneur by Small Business Administration, 1998
- Awarded Black Engineer of the Year at BEYA STEM Conference, 2012
- Horatio Alger Award recipient from Horatio Alger Association of Distinguished Americans, 2014
- Earned Silver Buffalo Award from Boy Scouts of America