meta_pixel
Tapesearch Logo
Log in
Forbes Daily Briefing

Best Of 2024: This Tech Entrepreneur Is The Richest Black Person In America

Forbes Daily Briefing

Forbes

Careers, Business, News, Entrepreneurship

4.612 Ratings

🗓️ 31 December 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

More than a dozen Black billionaires live in the U.S., but only these four made the 2024 Forbes 400 list.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0

This week, we're replaying some of our favorite Forbes stories from 2024.

0:06.7

Today on Forbes, this tech entrepreneur is the richest black person in America.

0:13.6

The wealthiest black person in America is IT entrepreneur, David Stewart,

0:18.5

according to the 2024 Forbes 400 list of wealthiest Americans.

0:23.2

Last week, on October 1st, Forbes revealed its annual ranking, which estimated the Missouri

0:28.2

residents net worth at a record $11.4 billion, up from $7.6 billion last year, and $6 billion

0:35.4

the year before that.

0:37.4

Stewart, who resides in St. Louis, tops private equity billionaire Robert Smith, who is the second

0:42.6

richest, with an estimated net worth of $10.8 billion.

0:47.0

There are two of just four black members on the 2024 ranking, which required a minimum

0:52.3

net worth of $3.3 billion, the most ever. That means just

0:57.6

1% of the list members are black entrepreneurs or executives. The other two are Palantir

1:02.9

co-founder Alexander Carp, who makes his debut with an estimated $3.6 billion, and NBA great

1:09.5

Michael Jordan, worth an estimated $3.5 billion.

1:14.6

Stewart, who is 73 years old, is the majority owner of worldwide technology, or WWT, alongside

1:21.1

partner Jim Kavanaugh. A native of Clinton, Missouri, Stewart initially put up $250,000 in capital to start WWT in 1990,

1:30.6

according to a 2019 Forbes profile.

1:33.6

Over the years, the IT service provider went on to NAB top corporate clients,

1:38.1

including Apple, City, Microsoft, and the federal government.

1:42.4

In 2023, WWT had sales of $17 billion.

1:48.1

Roughly 67% of the Forbes 400 are self-made this year, including all four of the black members.

1:54.6

Stewart, though, is among a very elite group of just 25 billionaires who have been given a maximum

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Forbes, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Forbes and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.