Here is your Forbes Daily Briefing for Saturday, October 5th.

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

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

2024 Forbes 400 list of wealthiest Americans.

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

residence net worth at a record $11.4 billion, up from $7.6 billion last year and and 6 billion the year before that.

Stuart, who resides in St. Louis,

tops private equity billionaire Robert Smith,

who is the second richest,

with an estimated net worth of $10.8 billion.

There are two of just four black members on the 2024 ranking,

which required a minimum net worth of $3.3 billion, the most ever.

That means just 1% of the list members are black entrepreneurs or executives.

The other two are Palantier co-founder Alexander Karp, who makes his debut with an estimated $3.6 billion,

and NBA Great Michael Jordan, worth an estimated $3.5 billion.

Stewart, who is 73 years old, is the majority owner of worldwide technology, or W.W.T.

alongside partner Jim Cabenaw.

A native of Clinton, Missouri, Stewart initially put up $250,000 in capital to start

W.W.T. in 1990, according to a 2019 Forbes profile.

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

Apple, City, Microsoft, and the Federal Government.

In 2023, W.W.T. had sales of $17 billion.

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