Paul Stewart was born in Scotland but moved to Switzerland before the age of three, residing near racing drivers such as Jochen Rindt and Jo Bonnier. He learned to drive by steering cars with his father. Stewart was educated at Aiglon College and Duke University in North Carolina, where he studied political science. His father agreed to support his motorsport career if he completed his degree. He worked in financial institutions in New York and Switzerland during university holidays.
After completing his coursework, Stewart revealed his interest in racing to his father, Jackie, who initially opposed the idea but ultimately decided to support him. Together, they formed Paul Stewart Racing. Stewart began racing in Junior Formula Ford 1600 in the summer of 1987, achieving podium finishes. The ‘Paul Stewart Racing’ team expanded in 1988 to field a Formula Ford 2000 car with Camel sponsorship, aided by Jackie’s former mechanic Roy Topp, Brabham chief mechanic Graham Lewins and James Skilling. Stewart won a race at Cadwell Park, securing funding for a move into Formula 3.
In Formula 3, Stewart competed against future Formula One and Indycar drivers including Mika Häkkinen, David Coulthard, Gil de Ferran and Kenny Bräck. He won at Snetterton in 1989, describing the circumstances as unusual: “I was leading, came up against a backmarker who looked like he was going to move one way as we were going into Russell, back when it was a proper, flat-out corner. In fact he went the other way. I spun and crossed the line backwards but the race was then red-flagged because Mika Hakkinen had just had a huge accident at the Bombhole and I won it on countback”. This win earned him a place on the grid at the Macau Grand Prix, where he qualified third and was named best newcomer.
Stewart competed in Formula 3000 for three seasons, with Marco Apicella, Coulthard and de Ferran as teammates. His best result was third place at the Pau Grand Prix in 1993. He tested for Footwork but then stopped racing to focus on his team.
At Snetterton in 1989, Stewart won a race following a red flag caused by a large accident for Mika Häkkinen. The win was secured after Stewart spun and crossed the finish line backwards, but was awarded on countback due to the race stoppage.
Stewart is the elder of two sons born to three-time Formula One World Drivers’ Champion Jackie Stewart. His younger brother, Mark, is a film producer. He married Victoria in 1993 and has four sons. In September 1999, Stewart was diagnosed with ulcerative colitis, and a subsequent colonoscopy in January 2000 showed no cancerous cells. However, he was later diagnosed with bowel cancer in April 2000, leading him to step down as Chief Operating Officer for Jaguar Racing and seek treatment at the Mayo Clinic in the U.S. A CAT scan later showed no signs of cancer returning.