David Steward’s journey from growing up in the segregated town of Clinton, Missouri, to becoming the second richest Black American and a global tech titan is a testament to the power of resilience, vision, and entrepreneurship.
As the co-founder and chairman of World Wide Technology (WWT), a technology services giant valued at $17 billion, Steward’s story is not just about wealth accumulation; it’s about breaking barriers, fostering inclusivity, and leveraging technology to create solutions that matter.
This article delves into the life of a man who, against all odds, built a business empire that thrives on innovation, diversity, and giving back to the community.
Growing up tough in segregated Missouri
David grew up in Clinton, Missouri. His mother was a homemaker, and his father worked multiple jobs to make ends meet. David was exposed to discrimination from an early age. Like other Black kids, he wasn’t allowed entry into all movie theaters and forced to sit in the balconies of some. He and his siblings were banned from swimming in the public swimming pool. His father was barred from working in certain jobs.
Growing up during a time when Black Americans were increasingly challenging segregation and asserting their constitutional rights, David and his siblings lived in an environment of uncertainty. The Ku Klux Klan was a threat to Black civil liberties, and his father patrolled the town all night to ensure that the kids could get to school safely. David credits his father for inspiring him to face the odds and succeed.
Like many boys his age, David wished to join the Boy Scouts and was devastated when his mother told him that no troop in town accepted children of color. David’s mother and other people in the community banded together and started a new troop that allowed black and white children. David became an Eagle Scout. In 2018, he was presented with the Silver Buffalo, the national-level distinguished service award of the Boy Scouts of America.
An ace salesman
Before David Steward became a household name in the tech industry, he was honing his skills on the front lines of sales, learning the art of negotiation and the importance of customer relationships. After completing his B.S. in business in 1973, Steward embarked on a career that saw him excel in various sales positions—from a production manager at Wagner Electric to a senior account executive at Federal Express. It was here, at Federal Express, that Steward’s sales acumen truly shone through, earning him the title of “Salesman of the Year.”
This accolade was more than just a feather in his cap; it was a turning point. It fueled his ambition to venture out on his own, setting the stage for what would become World Wide Technology. Steward’s salesmanship was not merely about closing deals; it was about building trust, understanding customer needs, and laying the groundwork for the customer-centric philosophy that would become a cornerstone of WWT.
Venturing into IT
David decided to enter the transportation industry, equipped with the knowledge acquired in previous jobs. In 1983, with a $2,000 loan from his father, he bought a company called Transportation Business Specialists, which reviewed freight bills and overcharges for the rail industry. Four years later, he started a sister company, Transport Administrative Services, which audited undercharges for railroad companies. In 1990, David launched World Wide Technology (WWT) with Kim Kavanaugh, who had worked as a sales manager for Future Electronics. Based in St. Louis, Missouri, WWT resold technology equipment to businesses, operating on a modest budget and having seven employees.
Today, WWT is one of the largest African-American-owned businesses in the U.S., specializing in cloud services, virtualization, security, mobility, data centers, networking technologies, and collaborative technologies. WWT serves private organizations and the American government. It has approximately 10,000 employees globally and reports annual revenues of over $20 billion.
Growing WWT from scratch was challenging, with David sacrificing his pay sometimes and losing his car to repossession. Creditors breathed down his neck, and some employees stole company money. David had a rocky start but stuck to his guns.
Turning World Wide Technology into a tech giant
David built WWT into a tech behemoth through a combination of strategic decision-making, value-driven leadership, and a customer-centric approach. He had a clear vision to make WWT a leading technology solutions provider, which he achieved by building strong relationships with customers, vendors, and employees.
Steward struck strategic partnerships with leading technology companies such as Dell, Cisco, and Microsoft. The collaborations allowed WWT to access cutting-edge technologies, product knowledge, and training, bolstering their ability to deliver innovative solutions to clients.
WWT committed to a customer-centric approach from the beginning, prioritizing understanding customers’ unique needs, building strong customer relationships, and delivering excellent customer service.
The company boasts diverse capabilities, having expertise in areas encompassing cybersecurity, networking, cloud computing, and data analytics. A culture of continuous innovation has allowed WWT to offer advanced solutions to its customers. In addition, the company has expanded globally, tapping new markets and serving a wider customer base.
David’s business acumen and leadership have consistently driven the growth and financial performance of WWT over the years.
Bringing the Silicon Valley experience to St. Louis
WWT has ambitiously adopted the slogan ‘Experience Silicon Valley in St. Louis,’ a reflection of David Steward’s commitment to fostering an innovative and inclusive culture. This initiative has not only elevated St. Louis as a hub for IT excellence but has also transformed WWT into a beacon of innovation and diversity, mirroring the open, collaborative spirit of Silicon Valley. The state-of-the-art campus is designed to inspire creativity and collaboration, featuring technology labs and communal spaces that encourage the free exchange of ideas among employees.
Central to this vision is the company’s emphasis on creating an exceptional workplace, recognized by its consistent ranking as a Fortune “Great Place to Work.” Steward takes pride in WWT’s comprehensive health care and benefits plan, emphasizing it “covers everyone in the family at a low cost for the employee, a plan that has remained unchanged for 15 years.” This dedication to employee welfare underscores the belief that a supported team is fundamental to the company’s continued success.
David Steward’s philosophy, “At WWT, our people are our most valuable asset. We invest in empowering them to make a difference and to drive our success,” encapsulates the ethos driving WWT’s operations.
Investment in employee empowerment and development is paramount, ensuring that the workforce is equipped to innovate and contribute significantly to the company’s objectives. This approach not only enriches the work culture but also solidifies WWT’s reputation as a leader in the tech industry.
The company’s initiatives extend beyond technological innovation to include comprehensive diversity and inclusion programs, leadership development tracks, and community engagement efforts. These endeavors reflect WWT’s dedication to creating a workplace where everyone, regardless of their background, can thrive. By importing the Silicon Valley model to the Midwest, WWT has redefined what it means to be a tech company, proving that a vibrant, supportive, and dynamic work environment can exist outside the traditional tech hubs.
Through a strategic focus on talent, technology, and community, David Steward and WWT have demonstrated that the spirit of Silicon Valley is not confined by geography. This bold strategy has not only contributed to the company’s success but has also played a pivotal role in positioning St. Louis as a desirable location for IT professionals seeking a fulfilling career in an innovative and supportive setting.
A focus on clients’ long-term success
David has been asked many times about why he hasn’t taken WWT public, and he has answered that WWT has the firm aim to serve clients better than any other company. The company’s focus is on helping clients achieve long-term success 50 or more years into the future. Going public, he believes, can interfere with that goal as investors are generally not that patient with companies.
As David has expressed in his media interviews, whenever he is approached by investment bankers, he turns the conversation to providing them with WWT’s services and helping them mitigate risk more effectively. It appears that, for the time being, America’s largest Black-owned company plans to stay private.
Foray into private investment
In 2016, David Steward embarked on a new venture that would extend his influence beyond the realm of technology services, founding Kingdom Capital. This private investment firm is not your typical venture capital entity; it represents Steward’s visionary approach to marrying financial success with purpose-driven investments. Focused on early-stage companies in the burgeoning fields of technology-based health and medical solutions, Kingdom Capital has set itself apart with its commitment to being ‘value-driven.’ The firm operates under a mission to ‘maximize financial return and eternal impact,’ a reflection of Steward’s deep-rooted belief in using wealth as a tool for positive change.
Kingdom Capital’s vision to ‘transform the world through a virtuous cycle of capital’ is more than a mere slogan—it’s a strategic blueprint for fostering innovation that benefits humanity. By investing in companies at the forefront of medical technology, Kingdom Capital aims to accelerate the development of breakthrough treatments and healthcare innovations. These ventures range from biotech firms working on revolutionary drug therapies to startups developing cutting-edge medical devices and health tech solutions designed to improve patient outcomes and accessibility to care.
The investment strategy employed by Kingdom Capital is distinguished by its holistic approach, considering not just the financial viability of a venture but also its potential to make a lasting impact on society. This dual focus aligns with Steward’s philosophy of creating wealth that works for the betterment of communities and enriching lives beyond the financial spectrum.
Under Steward’s leadership, Kingdom Capital has become a beacon for ethical investment in the tech and healthcare sectors, setting a new standard for how private capital can be leveraged to address some of the most pressing challenges of our time. The firm’s work underscores a commitment to innovation, excellence, and integrity, principles that have been hallmarks of Steward’s career.
Moreover, Kingdom Capital’s role extends beyond the financial. It acts as a mentor and partner to the companies it invests in, offering guidance, expertise, and access to a broad network of industry contacts. This supportive ecosystem not only fuels growth and innovation but also cultivates a community of entrepreneurs and leaders who are committed to ethical business practices and making a significant societal impact.
Through Kingdom Capital, David Steward continues to demonstrate that business success and social responsibility can go hand in hand. His foray into private investment is not just an expansion of his business empire; it is a testament to his enduring vision of using entrepreneurship as a force for good, setting a path for future generations to follow.
A philanthropic side
David Steward and his wife Thelma, a St. Louis Municipal School of Nursing graduate, created the Steward Family Foundation in 2013. It is one of America’s 50 largest private family foundations and prioritizes areas of art, education, and human services. The foundation’s website reports that it supports over 80 organizations and, in 2022, made donations exceeding $15 million. David has stated that he does not have a separate personal and business philosophy, and having come from humble backgrounds, he and his wife are blessed to pay it forward. WWT has invested in several community service organizations, including United Way, The Minority Scholarship Foundation, and the American Red Cross.
In 2009, David founded Bridge to Hope, a mentoring program to help young people from disadvantaged backgrounds achieve their academic and career goals. The program provides mentoring, scholarships, tutoring, and career guidance to students from elementary school to college. It partners with local schools, businesses, and churches to enable a network of opportunities for participants that empower them to overcome their challenges and pursue their dreams.
His son Dave Steward II is the Chief Executive of the media company Polarity, the parent company of the Oni-Lion Forge Publishing Group, owner of music label Neon Metropolis, and former owner of The Beat. David Steward II was named St. Louis American Foundation’s 2024 Entrepreneur of the Year, an honor his dad had received in 2000.
David is the recipient of numerous awards. He was named the 2012 Black Engineer of the Year (BEYA) and the 2015 St. Louis Post-Dispatch Citizen of the Year. Ebony magazine named him one of the ‘100 Most Powerful People in Business. David and his wife have been honored with the Jane and Whitney Harris St. Louis Community Service Award.
​Influential Christian business leader
David was raised on Christian values. Even though his family did not have much, they welcomed homeless people into their homes to share in a hot meal. David’s Christian upbringing had a strong influence on his life. He has taught a Christian class for business owners titled ‘Business by the Book.’ He is the author of two books, Doing Business by the Good Book (2004) and Leadership by the Good Book (2020).
His Christian convictions feature strongly in his books. Doing Business by the Good Book has 52 chapters, a lesson for each week of the year, and includes themes such as observing integrity, having a vision, thinking big, and adapting to change.Â
In Conclusion
David Steward’s remarkable journey from facing the adversities of segregation to becoming a cornerstone in the tech industry through World Wide Technology (WWT) is a testament to his resilience, vision, and commitment to innovation and diversity. His efforts have not only transformed WWT into a global powerhouse but also redefined St. Louis as a burgeoning tech hub, mirroring the innovative spirit of Silicon Valley.
Steward’s dedication to creating an inclusive, supportive work environment and his strategic foray into a private investment with Kingdom Capital highlights his multifaceted approach to business, prioritizing both financial success and positive societal impact. Through his philanthropic endeavors and leadership, Steward exemplifies how business success and social responsibility can intertwine, setting a powerful example for future generations and solidifying his legacy as a transformative leader in both the business world and the community at large.