The widow of Steve Jobs, a co-founder of Apple, Laurene Powell Jobs, is also a wealthy businesswoman and philanthropist. She is among the richest persons in the world, with an estimated net worth of $21 billion, and she uses her wealth to help communities in need worldwide.
She is one of the most influential people in business and philanthropy right now, thanks to her impact and accomplishments.
What is Laurene Powell Jobs’ net worth?
Laurene Powell Jobs is an American billionaire with a net worth of $19 billion. The fact that Laurene Powell Jobs is the widow of Apple C.E.O. Steve Jobs is arguably what makes her most famous.
Laurene rose to prominence as one of the wealthiest women in the world following Steve’s passing in 2011. And while you may believe that Steve’s ownership of Apple is where much of her wealth comes from, the Jobs family’s wealth is primarily derived from a sizable Disney holding.
For $7.4 billion, Steve sold Pixar to Disney in 2006. He acquired 138 million Disney shares as part of the sale, or around 7% of the total number of shares outstanding. He then held the most significant personal holding of Disney stock.
The value of those shares was $8 billion at the time of his passing. At the time of his passing, his Apple share was “only” valued at about $2 billion.
Steve left Laurene complete control of his Apple and Disney holdings. According to an S.E.C. filing, she sold about 64.3 million shares, or about half of her Disney ownership, for over $7 billion in 2017. She now owns almost 4% of the total number of outstanding Disney shares after the sale, and she is no longer above 5%. Thus Disney is exempt from disclosing her transactions.
If she still owns the remaining portion of her own as of this writing, the value of those roughly 74 million shares is $13 billion. She receives approximately $120 million in cash dividends from Disney annually ($60 million every two years).
Laurene received 5.5 million shares of Apple when Steve passed away. In 2014, the interest was divided 7-1, creating 38.5 million shares. That was holding increased to 154 million shares when the stock split 4-1 in August 2020. 154 million shares are currently worth $20 billion.
These shares provide $40 million quarterly or around $160 million in annual dividends. Laurene has received cash dividends totaling well over $1 billion.
On November 6, 1963, Laurene Powell was born in West Milford, New Jersey. Powell graduated with a B.A. in political science from the University of Pennsylvania School of Arts and Sciences in 1985 and a B.S. in economics from the Wharton School. Powell graduated with an M.B.A. from the Stanford Graduate School of Business in 1991.
Steve Jobs Connection and Personal Life
Laurene was a first-year M.B.A. student at Stanford Business School in October 1989 when Steve Jobs delivered a “View from the Top” talk there. To speak with Jobs, she had crept up to the front of the lecture.
That evening they had supper together and got hitched a year and a half later. On March 18, 1991, they were wed at the Ahwahnee Hotel in Yosemite National Park under the direction of Zen Buddhist Monk Kobun Chino Otogawa.
Daughters Erin and Eve were born in 1995 and 1998, respectively, after their son Reed was born in September 1991. Lisa Brennan-Jobs (born 1978), Steve’s child from a prior relationship, also has Lauren as her stepmother.
On October 5, 2011, complications from a return of his previously treated pancreatic cancer claimed the life of Steve Jobs. Steven P. Jobs Trust was passed down to Powell Jobs.
Outside of her relationship with Steve Jobs, Powell Jobs serves as the co-founder and board president of College Track, a nationwide charity organization dedicated to assisting impoverished students in college. Previously, Powell Jobs co-founded Terravera, a food business focused on organic and nutritious food items. She also worked for Merrill Lynch Asset Management and Goldman Sachs for three years before attending business school.
Powell Jobs also served on the board of directors for Directions of Achieva, a company that develops online resources for students to study more effectively for exams. Powell Jobs invested in Monumental Sports and Entertainment.
This company owned the Washington Wizards of the N.B.A., the Washington Capitals of the N.H.L., and the Capital One Arena, in October 2017. She is now the second-largest stakeholder, trailing only chairman Ted Leonsis, with a 20 percent interest.
Philanthropy and Activism
Powell Jobs established the Emerson Collective in 2004, a private business that collaborates with, invests in and provides grants to social entrepreneurs and groups in media, journalism, immigration reform, education, and social justice. Powell Jobs owns the Atlantic and Axios through this collective.
Powell Jobs raised an additional $4 million for Hillary Clinton’s presidential campaign and gave her $2 million in 2016. She participated in the political group ACRONYM’s founding in 2017, which raised moral concerns about Powell Jobs’ decision to launch Courier Newsroom.
Powell Jobs contributed to several Democratic candidates during the 2020 U.S. presidential primaries. Powell Jobs later contributed more than $600,000 to the Biden-Harris campaign after Joe Biden was selected as the Democratic Party’s presidential nominee.
In contrast to her late husband, who was infamously uninterested in humanitarian endeavors throughout his life, she is best recognized for her charity. She serves on the boards of directors for several nonprofit and civic groups, including Teach for America, the Global Fund for Women, the Stanford Schools Corporation, EdVoice, the New America Foundation, and KQED (PBS).
Powell Jobs and Carlos Watson established College Track in East Palo Alto in 1997 to increase high school graduation rates, college enrollment, and college graduation for “underserved” kids. Ninety percent of College Track graduates enroll in four-year institutions after graduating.
As a result of growth, College Track now has facilities in California and New Orleans, Colorado, Denver, and Washington, D.C. Powell Jobs is on the boards of Stanford University, Conservation International, and College Track.
She started the X.Q.: The Super School Project, a $50 million program to build high schools with innovative teaching methods, in September 2015. The Emerson Collective funds the initiative. The chairman of XC’s board of directors is Powell Jobs, and a founding member of the Climate Leadership Council is Powell Jobs.
Laurene Powell Jobs is not content to rest on her fortune; instead, she uses her blessings to give back to many communities in her town and worldwide.
Pros and Cons For Laurene Powell Jobs Net Worth
- Philanthropy – Laurene Powell Jobs’ wealth enables her to support a variety of humanitarian endeavors. She has given millions of dollars to charities and nonprofit groups that support causes related to education, the environment, and human rights.
- Entrepreneurship – Powell Jobs is a successful businessman who co-founded the Emerson Collective, a company that invests in ventures and projects with a social impact. She can now launch and support businesses with a positive social impact because of her wealth.
- Influence – Powell Jobs, with a net worth of over $21 billion, is a significant player in several industries, including media and technology. Her fortune also gives her access to influential networks and individuals, allowing her to advance her entrepreneurial and humanitarian objectives.
- Financial stability – Powell Jobs’ net worth gives her the financial security and stability she needs to continue living the way she wants and pursuing her passions even in difficult economic times.
- Wealth disparity – Powell Jobs’ enormous wealth adds to the widening wealth difference in society. Her enormous worth exceeds the G.D.P. of some poor nations, raising concerns about the equity of wealth distribution.
- Philanthropic criticism – Some people question Powell Jobs’ philanthropic efforts, particularly his work in education reform. Others contend that the generosity of billionaires can have unfavorable effects, like avoiding government accountability and exacerbating societal problems.
- Criticism of influence – Powell Jobs can influence policies that may not always be in the public good, thanks to her riches and power. This has raised questions about how her influence may affect democracy and government.
- Alienation from everyday struggles – Powell Jobs’ enormous fortune can put a barrier between her and the experiences of ordinary people, drawing criticism for her alleged inability to relate to issues like injustice and poverty.
Final Thought – Laurene Powell Jobs Net Worth
Laurene Powell Jobs is an excellent illustration of how money can influence society for the better. Her dedication to enhancing society has undoubtedly had a genuine, noticeable impact, even though it is true that having enormous sums of money might be debatable. She has filled gaps in communities, offered necessary services, and improved everyone’s quality of life by utilizing her wealth.