Laurene Powell Jobs, an American billionaire and widow of Apple founder Steve Jobs, has amassed a net worth of $10 billion through her late husband’s successes and her business ventures. Following Steve Jobs’ death from cancer in 2011, Laurene emerged as one of the world’s wealthiest women.
The Beginning: Meeting Steve Jobs
Laurene majored in political science and economics at the University of Pennsylvania before working on Wall Street for Merrill Lynch and Goldman Sachs. In 1989, she pursued an MBA at Stanford University, where she met Steve Jobs at a campus lecture. Their conversation led to a dinner date that evening, beginning a lifelong partnership. They married in March 1991 and had three children: Reed, Eve, and Erin. Laurene also became stepmother to Lisa Brennan-Jobs, Steve’s daughter from a previous relationship.
Inheriting Wealth: The Legacy of Steve Jobs
In 2006, Steve Jobs sold Pixar to Disney for $7.4 billion, acquiring about seven per cent of Disney’s outstanding shares. By the time of his passing, these shares were valued at $8 billion, while his Apple stock was worth approximately $2 billion. This substantial inheritance positioned Laurene among the world’s richest individuals.
Despite inheriting her husband’s fortune, Laurene has made significant contributions to philanthropy and business. She co-founded and serves as president of the board of directors of College Track, a non-profit organisation dedicated to helping underprivileged students attend college. Additionally, she co-founded Terravera, a company specialising in organic and healthful products.
In 2017, Laurene acquired a stake in Monumental Sports and Entertainment, the owner of the NBA’s Washington Wizards, NHL’s Washington Capitals, and the Capital One Arena. With her 20 per cent interest, she became the second-largest stakeholder after chairman Ted Leonsis. She also owns the Emerson Collective, which focuses on immigration and education reform. In 2019, Emerson Collective acquired a 70 per cent stake in The Atlantic for over $100 million. Despite her activist image, Laurene faced criticism during the Jeffrey Epstein trials when an article in The Atlantic downplayed child sex trafficking, and images of her with Ghislaine Maxwell surfaced.
Real Estate Ventures: Expanding Her Portfolio
Laurene has made headlines with her significant real estate investments. According to The Wall Street Journal, she set a record by paying $70 million for a mansion in San Francisco’s Pacific Heights area. The four-story 1916 home, refurbished by architect Peter Marino, offers stunning views of the Golden Gate Bridge, Alcatraz Island, and San Francisco Bay.
In June, Laurene purchased a four-acre estate in Malibu for $94 million. According to the Los Angeles Times, she plans to demolish and renovate the 1950s-constructed 3,399-square-foot L-shaped house.
Despite her extensive real estate investments, Laurene has stated in multiple interviews that she does not intend to leave substantial wealth to her children. “I’m not interested in legacy wealth buildings, and my children know that. Steve wasn’t interested in that. If I live long enough, it ends with me,” she explained. In another interview, she emphasised, “I’m very aware of the fact that we’re all just passing through here. I feel like I’m hitting my stride now. It is my goal to effectively deploy resources. If there’s nothing left when I die, that’s just fine.”