Bloomberg Billionaires Index

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# 463 David Steward $5.18B

Random fact: Worked as an associate executive for the Boy Scouts of America.

Overview

Steward is co-founder and majority owner of World Wide Technology, a closely held provider of information technology services. The St. Louis, Missouri-based company provides cloud computing and security services as well as digital consulting. It employs about 8,000 people and has annual revenue of $14.5 billion.

As of :
Last change No change
YTD change -$1.56B ( -23.1%)
Biggest asset World Wide Technology
Country / Region United States
Age 71
Industry Technology
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

David Steward's net worth of $5.18B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Steward's fortune is derived from his controlling interest in World Wide Technology, a closely held information services and hardware provider. Steward holds a 59% stake while Jim Kavanaugh, his partner and co-owner, has a 36% stake, according to a 2019 report.

The company employs about 8,000 people and has annual revenue of $14.5 billion, according to its website. It's valued using the enterprise value-to-sales multiple of three publicly traded peer companies: Insight Enterprises, Eplus and CDW.

Rebecca Morrison, a WWE spokeswoman, didn't comment on the net worth calculation.

Biography

Birthdate: 7/2/1951
Family: Married, 2 children
Education: University of Central Missouri

David Lloyd Steward was born in Chicago on July 2, 1951. After moving to Missouri he earned a business degree from Central Missouri University in 1974, according to a Dec. 18, 2006 interview he gave to the History Makers.

After working as a salesman for the Missouri Pacific Railroad, he joined Federal Express before leaving to found a freight analytics firm, Transportation Business Specialists. He used that experience as the foundation for World Wide Technology, which he co-founded in 1990, according to the company's website.

Four years later a partnership with Cisco Systems saved the company from its mounting debt and then it won business with the federal government, taking advantage of the company’s status as a minority contractor, and with companies including Papa John’s International Inc. WWT now sells bundles of products made by Dell Inc., Intel Corp. and more than a dozen others.

Steward lives in St. Louis, Missouri.

Milestones
  • 1951 David L. Steward is born in Chicago.
  • 1983 Founds a transportation analytics company after working at Federal Express.
  • 1990 Incorporates World Wide Technology.
  • 1994 Enters a partnership with Cisco Systems.
  • 2003 Annual sales top $1 billion.
  • 2004 Publishes book of business lessons he gleaned from the bible.
  • 2016 World Wide Technology opens regional office in Denver.
  • 2017 Receives jazz leadership award at a Jazz at Lincoln Center gala.