David steward net worth7/25/2023 It would take 60 African American billionaires with a net worth exceeding $2.1 billion to be representative according to our population’s percentage. Lastly, Oprah Winfrey, who ironically is not even the wealthiest HBCU graduate but is the wealthiest African American HBCU graduate. Then there is David Steward, a man who could walk into almost every room in African America and would not be recognized, but has made his $3 billion fortune through co-founding an information technology firm that is integrated in the highest levels of corporate and government. According to the website, “The minimum net worth to join this exclusive club hit an all-time high of $2.1 billion while the average net worth for a Forbes 400 member rose half a billion to a record $7.2 billion.” The only three African Americans present on the Forbes 400 are Robert Smith, who recently made headlines by promising to pay off all of Morehouse’s 2019 class student loan debt. This amounts to less than 1 percent representation. Of course, no one who is a billionaire is going to garner sympathy from Main Street America, but the lack of African American billionaires certainly can be argued as a point of why there is continued institutional weakness among Main Street African America.Īfrican Americans make up 15 percent of the American population, but of the Forbes 400 wealthiest Americans there are only three who make the cut – Mr. Carter’s new found billionaire status, it does open up an additional layer to the conversation on the racial wealth gap in America. Unfortunately, while social media celebrated Mr. Now, Jay-Z can do the song all by himself. We wonder if there will be a follow-up to 50 Cent’s I Get Money song that was remixed and called the Billionaire Remix or Forbes 1-2-3 where Jay-Z, Diddy, and 50 Cent who at the time were worth a combined $1 billion between the three of them. Lewisįorbes Magazine recently declared that Shawn Carter AKA Jay-Z AKA Hova officially has the net worth to enter billionaire status. I want someone to look at me and say “Because of you I didn’t give up.” – Reginald F. Cavanaugh’s share is now valued at $641 million, according to the Bloomberg index.“I want to inspire people. It cost Steward 15 percent of the business. Steward managed to grab his briefcase from the trunk as his Lincoln was being repossessed from the parking lot, according to his 2004 book, “Doing Business by the Good Book: Fifty-Two Lessons on Success Straight from the Bible.” He co-authored the semi-autobiographical book with Robert Shook.ĬEO Kavanaugh put $15,000 from his savings into the company to get a product to a customer on time. Within three years of starting the business, WWT was in debt. World Wide Technology Inc., has grown from seven employees to a multinational with revenue of $9.4 billion in 2016. Smart Policies are as low as $30 a month, No Medical Exam RequiredĬlick Here to Get Smart on Protecting Your Family and Loves Ones, No Matter What Happensīenedictions not being the norm at these affairs, the Reverend Terri Swan recalled that “it took a bit of encouragement.” She offered a brief blessing, and it all went swimmingly. Louis begin the event with a prayer, Bloomberg reported:īlack Americans Have the Highest Mortality Rates But Lowest Levels of Life InsuranceĪre you prioritizing your cable entertainment bill over protecting and investing in your family? At the event, Steward did something unconventional: he asked that the pastor of the Methodist church he attends in St. Jazz promoters and enthusiasts, Steward and his wife Thelma received the Ed Bradley Award for Leadership in Jazz at a Jazz at Lincoln Center gala in April.
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