This Is Where Newcomers Billionaires Built Their Fortunes

One of  the 195 newcomers, David Steward is one of five black billionaires in America.
This Is Where New Upcoming Billionaires Built Their Fortunes

David L. Steward is Chairman and Founder of World Wide Technology, Inc., one of the largest African-American-owned businesses in America. David Steward is one of five black billionaires in America, being 745th in the Forbes Billionaires 2019 list.

David Steward is the co-founder and chairman of IT provider World Wide Technology.
In 1990, he put up $250,000 he earned from two previous auditing ventures to start the St. Louis-based business.

In the early days, Steward sometimes went without a paycheck and once watched his car get repossessed from the office parking lot.

Today Steward is majority owner of the $11.2 billion (sales) company, whose customers include Citi, Verizon and the federal government.

He grew up in the segregated South with seven siblings; his father worked as a mechanic, janitor and trash collector.

Net worth: $3 Billion.

Where Newcomers Built Their Fortunes:

Where Newcomers Built Their Fortunes:

1- Technology

There are many ideas for technology-related businesses out there that allow entrepreneurs with some tech-savvy to put their experience into building successful new companies.

10 Tech-Related Business Ideas

2- Manufacturing

A manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product. Manufacturing businesses in today's world are normally comprised of machines, robots, computers, and humans that all work in a specific manner to create a product.

Manufacturing plants often use an assembly line, which is a process where a product is put together in sequence from one work station to the next. By moving the product down an assembly line, the finished good can be put together quicker with less manual labor. It's important to note that some industries refer to the manufacturing process as fabrication.

50 Small Business Manufacturing Ideas

3- Fashion & Retail

Fashion marketing is the process of managing the flow of merchandise from the initial selection of designs to be produced to the presentation of products to retail customers, with the goal of maximizing a company’s sales and profitability.

Successful fashion marketing depends on understanding consumer desire and responding with appropriate products. Marketers use sales tracking data, attention to media coverage, focus groups, and other means of ascertaining consumer preferences to provide feedback to designers and manufacturers about the type and quantity of goods to be produced. Marketers are thus responsible for identifying and defining a fashion producer’s target customers and for responding to the preferences of those customers.

How to Start a Clothing Store

4- Diversified

A diversified company is a type of company that has multiple, unrelated businesses or products. Unrelated businesses are those which:

Require unique management expertise.
Have different end customers.
Produce different products or provide different services.

One of the benefits of being a diversified company is that it buffers a business from dramatic fluctuations in any one industry sector. However, this model is also less likely to enable stockholders to realize significant gains or losses because it is not singularly focused on one business.

How a Diversified Company Works?

Companies may become diversified by entering into new businesses on its own, by merging with another company or by acquiring a company operating in another field or service sector. One of the challenges facing diversified companies is the need to maintain a strong strategic focus to produce solid financial returns for shareholders instead of diluting corporate value through ill-conceived acquisitions or expansions.

What Are the Most Diversified Companies?

5- Real Estate

What Is Real Estate?

Real estate is property made up of land and the buildings on it, as well as the natural resources of the land, including uncultivated flora and fauna, farmed crops and livestock, water and mineral deposits.

Although the media often refers to the "real estate market," real estate can be grouped into three broad categories based on its use.

Residential real estate includes undeveloped land, houses, condominiums, and townhouses. The structures may be single-family or multi-family dwellings and may be owner occupied or rental properties.

Commercial real estate includes nonresidential structures such as office buildings, warehouses, and retail buildings. These buildings may be free standing or in shopping malls.
Industrial real estate includes factories, business parks, mines, and farms. These properties are usually larger in size and locations may include access to transportation hubs such as rail lines and harbors.

How to Start a Real Estate Business: 14 Essential Tips

6- Finance & Investments

What Is an Investment?

An investment is an asset or item acquired with the goal of generating income or appreciation. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit.

 An investment always concerns the outlay of some asset today (time, money, effort, etc.) in hopes of a greater payoff in the future than what was originally put in.

Top 10 investment options

7- Food & Beverage

According to Statistics Canada, the food and beverage sector comprises “establishments primarily engaged in preparing meals, snacks and beverages, to customer order, for immediate consumption on and off the premises” (Government of Canada, 2012). This sector is commonly known to tourism professionals by its initials as F&B.

Food and Beverage Business Resources and News

8- Healthcare

healthcare is the maintenance or improvement of health via the prevention, diagnosis, and treatment of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health professionals in allied health fields.

If you’re a healthcare professional or have an interest in working in the healthcare industry, there are plenty of different opportunities for you to start your own business. Some healthcare businesses require medical degrees while others have more specialized forms of training.

There are also various certification requirements certain businesses. But for entrepreneurs who have the training, experience or aptitude, here are 50 different businesses you can start within the healthcare industry.


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