Inside The $16.7bn Fortune Of Steve Jobs’ Widow

Inside The $16.7bn Fortune Of Steve Jobs’ Widow

Inside The $16.7bn Fortune Of Steve Jobs’ Widow

Inside The $16.7bn Fortune Of Steve Jobs’ Widow
Apr 12, 2016
When Steve Jobs passed away in October 2011, most of his assets passed on to his wife, making her one of the 50 richest people in the world.

Laurene Powell Jobs, 52, married the tech mogul in 1991 - ten years before the release of the first iPod - and now manages a $16.7bn fortune according to Forbes.
She owns, among other things, two private jets, four real estate properties and shares of the Walt Disney Company and Apple, Business Insider reported.

Powell Jobs is now the sixth richest woman in the world based on Forbes’ ranking, behind French L’Oreal shareholder Liliane Bettencourt, Wal-Mart heiress Alice Walton, Mars heiress Jacqueline Mars, Italian Michele Ferrero’s widow Maria Franca Fissolo and German BMW heiress Susanne Klatten.

Her fortune comes mainly from the Walt Disney Company shares she inherited from her husband, according to Business Insider.

Those shares were worth $7.4 billion when he sold Pixar, his animation studio, to Disney in 2006. It has now increased to $12.7 billion, Business Insider reported.

The Laurene Powell Jobs Trust, which Jobs has managed since the death of her husband, is the largest individual shareholder at the Walt Disney Company, with a 7.8 per cent stake according to Forbes.

Powell Jobs’ share of Apple, on the other hand, is tiny compared to what it could have been: according to Business Insider, her stake at the company comes to $560 million.
That’s not even one per cent of the $65 billion his original 11 per cent stake at the company would represent today, the website wrote.

But he sold it when Apple ousted him in 1985.

Her assets also include four real estate properties, Business Insider reported. One of them is the house where she lived with her husband and their children, located in Palo Alto and worth $8 million.
She owns two additional properties in Woodside, each worth $7.5 and $10 million, the website wrote.

Powell-Jobs purchased the last one, a three-acre property in Malibu, in March last year for $44 million according to Wealth-X.

She has also inherited the 260-foot, $138 million yacht her husband imagined with French designer Philippe Starck.
He died before he could see the finished yacht, named Venus, which was unveiled in October 2012.
His family gave iPod shuffles with the name of the ship written on the back as a thank-you to everyone involved in the construction, Wealth-X wrote.

Powell-Jobs also owns two private jets - a 2013 Gulfstream G650, currently priced at $58,8 million, and a 1999 Gulfstream G-V, now worth $9.95 million.

The rest of her fortune is divided between cash and liquid assets according to Business Insider, and comes from stock transactions, dividends and investments, as well as previous salaries and bonuses.

Powell-Jobs, who met her husband in 1989 when he came to give a lecture at Stanford Business School, where she was a student, had three children with him.
She has co-founded several programs to assist disadvantaged students.
The latest, XQ: The Super School Project, is a national campaign to reform high schools.

She pledged $50 million to the project in September last year.

Powell Jobs is one of the top donors to the Ready for Hillary Super PAC according to Forbes and supports the DREAM Act, a bill that would establish a path to US citizenship for children of undocumented immigrants.

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