Laurene Powell Jobs Net Worth: Laurene Powell Jobs is an American businesswoman and executive who is worth a billion dollars. Powell started Emerson Collective and XQ Institute and is their chair. Powell Jobs lives with her three children in Palo Alto, California. She is the wife of Steve Jobs, who helped start Apple and was its CEO for a while. She runs the Steve Jobs Trust. She has recently given a lot of money to politicians from the Democratic Party.
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Laurene Powell Jobs Early Life
She was born Laurene Powell on November 6, 1963, in West Milford, New Jersey. Powell got a B.A. in political science from the Pennsylvania School of Arts and Sciences and a B.S. degree in economics from the University of Pennsylvania’s Wharton School in 1985. Powell got her M.B.A. from Stanford Graduate School of Business in 1991.
Laurene Powell Jobs Career
Independently from her husband, Powell Jobs is actively involved in the lives of disadvantaged youth as the co-founder and President of the Board of Directors of the national education nonprofit College Track. Before Apple, Powell Jobs established Terravera, a firm focused on organic and healthy food options. She worked for Goldman Sachs and Merrill Lynch Asset Management for a combined total of three years before deciding to pursue an MBA.
Powell Jobs also sat on the board of directors at Directions of Achieva, which makes software to help students prepare more effectively for standardized tests. In October of 2017, Powell Jobs invested in Monumental Sports and Entertainment, the parent company of the National Basketball Association‘s Washington Wizards, the National Hockey League’s Washington Capitals, and the Capital One Arena. At 20%, she is the second largest shareholder after chairman Ted Leonsis.
Laurene Powell Jobs Net Worth
As the richest woman in the world, $20 billion goes to “Laurene Powell Jobs,” the best American businesswoman in the world. Many websites (including Wikipedia, Forbes, and IMDB) have put Laurene Powell Jobs net worth at $20 billion.
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All of Steve’s shares in Apple and Disney have been transferred to Laurene. In 2017, she reportedly sold around half of her Disney investment, or about 64.3 million shares, for about $7 billion, as reported by an SEC filing. After the sale, she still owned about 4% of Disney’s outstanding shares. Disney is no longer required by law to disclose her dealings as an investor now that her stake is below 5%. If she still has the remaining 74 million shares, the total value of her holdings is $13 billion as of this writing. Disney receives approximately $120 million each year (actually $60 million biannually) in cash dividends from Disney.
In the event of Steve’s passing, he left Laurene with 5.5 million shares of Apple stock. That percentage is now equivalent to 38.5 million shares after a 7-for-1 stock split in 2014. As a result of the 4-1 stock split in August of 2020, the original stake is now equivalent to 154 million shares. At the time of this writing, $20 billion can be calculated from 154 million shares. A total of $160 million is generated annually (or $40 million quarterly) from dividends paid on these shares. Laurence’s total dividend income exceeds $1 billion.
Laurene Powell Jobs Personal Life
While a new MBA student at Stanford University in October 1989, Laurene attended Steve Jobs’ “View from the Top” lecture. She secretly approached Jobs at the front of the classroom to strike up a conversation. They had dinner together that night, and a year and a half later, they were married. On March 18, 1991, at the Ahwahnee Hotel in Yosemite National Park, they were married to Zen Buddhist Monk Kobun Chino Otogawa. The couple welcomed their first child, a son named Reed, in September 1991. Two more girls, Erin (1995) and Eve (1998) followed. Lauren’s stepson is Lisa Brennan-Jobs (born in 1978), Steve’s daughter from a previous relationship.
Steve Jobs Death
Apple’s co-founder and former CEO, Steve Jobs, passed away on October 5, 2011, at age 56, from a recurrence of islet cell neuroendocrine pancreatic cancer. As of May 2013, Powell Jobs inherited the Steven P. Jobs Trust, which included a 7.3% stake in The Walt Disney Company valued at about $12.1 billion and 38.5 million shares of Apple Inc.
As of July 2020, Forbes ranked Powell Jobs and her family as #59 on their 2020 global billionaires list and #30 on their 2020 Forbes 400 list. Similarly, she has been ranked as the wealthiest woman in the technology sector.
Philanthropy And Activism
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Sadly, on October 5, 2011, at the age of 56, Apple co-founder and former CEO Steve Jobs passed away due to a recurrence of his islet cell neuroendocrine pancreatic cancer. Powell Jobs received 38.5 million shares of Apple Inc. and a 7.3 percent stake in The Walt Disney Company when he inherited the Steven P. Jobs Trust in May of 2013.
Forbes ranked Powell Jobs and her family as #59 on their global billionaire’s list in 2020 and #30 on the 2020 Forbes 400 as of July 2020. She is also the wealthiest woman in the technology industry.
She is well-known for her generosity, in sharp contrast to her late husband, who was not recognized for his involvement in philanthropic work. She serves on the boards of several non-profits, including Teach for America, the Global Fund for Women, KQED (PBS), EdVoice, the New America Foundation, and the Stanford Schools Corporation.
For the sake of “underserved” kids, Powell Jobs and Carlos Watson established College Track in East Palo Alto, California, in 1997. Ninety percent of College Track’s grads go on to study at four-year institutions. College Track has gone national, with locations not only in every major city in California but also in New Orleans, Denver, Colorado, and even Washington, DC. Currently, Powell Jobs serves on the boards of College Track, Conservation International, and Stanford University.
She unveiled her $50 million XQ: The Super School Project in September 2015 to establish high schools with innovative curricula. The Emerson Collective provided funding for the undertaking. Powell Jobs leads XC’s board of directors as its chairman. Powell Jobs also helped establish the Climate Leadership Council.
Laurene Powell Jobs isn’t content to squander her fortune, but rather uses her good fortune to help people not only in her town but all over the world.