![]() ![]() Steward continues to hold the position of America’s second-richest Black individual, with a net worth of $5.6 billion, trailing behind Robert F. Steward’s net worth has risen by $984 million since the beginning of this year, putting him in the exclusive club of Black billionaires who have experienced over $900 million bump in their wealth. The $400-million bump in his net worth makes Steward one of the few Black billionaires to experience a significant increase in wealth in 2023. ![]() ![]() Steward’s stake in World Wide Technology accounts for almost the entirety of his $6 billion fortune. World Wide Technology’s valuation is based on the enterprise value-to-sales multiple of three publicly traded peer companies: Insight Enterprises, Eplus, and CDW. Thanks to the recent surge in the valuation of his holdings in his closely held information technology services provider, World Wide Technology, Steward has made up for the loss and then some. Steward, who ranks as America’s second-richest Black billionaire, saw his net worth slump earlier this year due to the pullback in tech stocks, causing a wealth loss of $570 million. Logistically, if the controlling owner is Black, he or she will likely be a part of a larger ownership group of three to five people.David Steward, one of the world’s richest Black billionaires, has experienced a significant increase in his net worth in the past 28 days thanks to the recent revaluation of his privately held tech firm, World Wide Technology.Īccording to Forbes, Steward’s wealth figures have increased by $400 million, from $5.6 billion on April 13 to $6 billion. And out of 2,755 billionaires globally, only 15 are Black. That narrows the prospective pool down to a subsection of billionaires. According to Forbes, the Broncos are worth $3.75 billion, meaning any potential majority buyer will likely have to put up a minimum of $1.25 billion to $1.5 billion in cash. In order to be a majority owner of an NFL team, a prospective buyer will likely have to pay more than a third of what the franchise ultimately sells for. Accordingly, when evaluating a prospective ownership group of a member club pursuant to League policies, the membership will regard it as a positive and meaningful factor if the group includes diverse individuals who would have a significant equity stake in and involvement with the club, including serving as the controlling owner of the club," the NFL said in a press release in April. "The NFL member clubs support the important goal of increasing diversity among ownership. Currently, there are no Black controlling owners in the NFL. The Denver Broncos offers the league its first test. NFL Commissioner Roger Goodell pledged to fix the league's problems with diversity, focusing first on ownership. While 58% of the NFL's players are Black, according to the Institute for Diversity and Sport's annual report, the league has only four Black head coaches out of 32 teams. The NFL has faced public fallout after only one Black coach was hired this off-season out of nine potential head coaching openings (the Texans hired Lovie Smith in February since then, Todd Bowles was promoted by the Buccaneers, taking over from Bruce Arians as head coach). Here are five Black billionaires who could potentially buy the team.Īfter 38 years under Bowlen family ownership, the Denver Broncos are expected to be sold this year, and the National Football League has expressed interest and hope in finding a Black owner for the storied franchise.With the recent fallout after only one Black head coach was hired out of nine openings, the NFL pledged to attract a more diverse ownership.The Bowlen family recently announced plans to sell the Denver Broncos. ![]() Account icon An icon in the shape of a person's head and shoulders. ![]()
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