Black Business Profile: World Wide Technology Inc

Business
Founded1990
Revenue$12,000,000,000
Employees6,500
  • World Wide Technology, Inc. (WWT) is a technology service provider founded by David Steward in July 1990.
  • WWT provides technology and supply chain services with a focus on the enterprise commercial, public and telecom service provider sectors.
  • The company provides planning, procurement and deployment of IT products and solution selling.
  • WWT is Based in Maryland Heights, Missouri, United States
  • WWT is Cisco’s top US reseller (#2 globally).
  • WWT counts more than 70 of Fortune 100 companies as customers and within the federal space, WWT holds several major federal purchasing contracts including ITES-3H and SEWP, and is on the GSA Schedule.
  • WWT employs more than 6,500 people and operates more than 2,000,000 square feet of warehousing, distribution and integration space in more than 20 facilities throughout the world.
  • In 1999, World Wide Technology spun off its telecommunications division to form Telcobuy.com. Sales for the two companies continued to grow, although revenues slipped in 2002 as World Wide Technology felt the impact of the technology recession.
  • In 2003 combined reported revenues passed $1 billion, and the founders formed World Wide Technology Holding Company as the parent company for the two firms.
  • WWT’s annual revenue is estimated to be greater than $12 billion, ranking it as one of the largest private companies in the country.
  • WWT has also been recognized by Fortune Magazine on their 100 Best Places to Work For list for five consecutive years and landed at #5 on Glassdoor’s Best Places to Work 2017 list.
  • The UK branch placed 3rd by Great Place to Work on the UK’s Best Workplaces: Small Category 2017.
  • In addition to growth overseas, WWT expanded its campus with a new headquarters in Westport Plaza in 2017.
  • In 2019, WWT acquired the naming rights to Gateway Motorsports Park in Madison, Illinois, renaming the track to World Wide Technology Raceway at Gateway.

David Steward

Networth – $3,700,000,000

  • David Steward is the cofounder and chairman of IT provider World Wide Technology.
  • David Steward was born in Chicago in 1951.
  • His father was a mechanic and his mother was a housewife.
  • Mr Steward grew up in Clinton, Missouri in the midst of poverty and discrimination.
  • In 1967, Steward was a member of a small group of African American students who integrated the public swimming pool. Steward got his B.S. in business in 1973 from Cental Missouri State University.
  • Steward worked as a production manager at Wagner Electric in 1974 and 1975 (after college.)
  • From 1975-1979, he was a sale representative at Missouri Pacific Railroad Company.
  • After Missouri Pacific Railroad Company, he spent five years at Federal Express, where he was named salesman of the year in 1981. Steward had long had the desire to own his own business, but it was being named salesperson of the year that was the turning point for him. FedEx presented him with an ice bucket with his initials engraved inside. He looked inside the bucket and realized it was empty. He recalls, “This was a defining moment. I asked myself, Is this what I want out of life?” At the time, Steward and his family were living paycheck to paycheck. He left FedEx in 1984.
  • In the early days of his business, Steward sometimes went without a paycheck and once had his car get repossessed from the office parking lot.
  • Today he is majority owner of the nearly $12 billion (sales) company, whose customers include Citi, Verizon and the federal government.
  • Steward donated $1.3 million to the University of Missouri-St. Louis in 2018 to create the David and Thelma Steward Institute for Jazz Studies.
  • With more than three decades of experience in the technology industry, David spends the majority of his time developing strategic supplier, customer and employee relationships. He plays a key role in WWT’s pursuit of large contract bids within its industry specific operating companies.

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