⬅ # 270 Ramzi Musallam|# 272 Andrei Guryev

# 271 David Steward 

$9.32B

Real Time Net Worth
as of 5/18/2024
-$53.5M (-0.57%)

# 271 David Steward 

$9.32B

Real Time Net Worth
as of 5/18/2024
-$53.5M (-0.57%)
OccupationCofounder and Chair, World Wide Technology
Source of WealthIT Provider
Age72
ResidenceSt. Louis, Missouri
Marital StatusMarried
EducationBS, Central Missouri State University
Age-Adjusted Net Worth$4.14B
David Steward
David Steward
United States
Net worth: $9.32B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

David L. Steward was born on July 2, 1951, in Chicago, Illinois, to Dorothy Elizabeth Massingale and Harold Lloyd Steward.
In 1953, his family relocated to Clinton, Missouri, where Steward grew up amidst poverty and faced discrimination, including the experience of segregation.
He graduated with a BS degree in business from Central Missouri State University in 1973.

Early Career

Following his college graduation, Steward embarked on a career path that included roles such as production manager at Wagner Electric, sales representative at Missouri Pacific Railroad Company, and senior account executive at Federal Express.
During his tenure at Federal Express, he was honored as salesman of the year and inducted into the company's hall of fame in 1981.
Steward was also involved in founding Transportation Business Specialists, Transport Administrative Services, and Telcobuy, a global technology and supply chain management company.

World Wide Technology

Steward co-founded World Wide Technology, Inc. (WWT) in July 1990.
Entered into a partnership with Cisco Systems in 1994 to resell hardware and software.
WWT has an annual revenue of $17.0 billion, making it one of the largest privately-held technology services providers in the US.
The company employs over 9,000 people and is headquartered in St. Louis, Missouri.
WWT's industry focus includes cloud computing, computer security, data centers, data analytics and artificial intelligence, among others.
In 2015, WWT acquired St. Louis software company Asynchrony.

Philanthropy and Civic Engagement

David Steward's philanthropic endeavors include a $1.3 million donation to the University of Missouri-St. Louis in 2018 to establish the David and Thelma Steward Institute for Jazz Studies.
He has been actively involved in various civic and community organizations, serving on committees and boards such as Civic Progress of St. Louis, the St. Louis Regional Chamber and Growth Association, and the United Way of Greater St. Louis.
Steward's commitment to education is evident through his service on the board of curators at the University of Missouri and the African-American Business Leadership Council at Harris-Stowe State College.
Additionally, he serves on the Washington University in St. Louis Board of Trustees and has supported legislative measures affecting Title IX investigations at universities.

How long would it take you to become as rich as David Steward?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach David Steward's net worth of $9.32B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

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David Steward is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For David Steward, IT Provider is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey