Lauren Powell Jobs, the widow of Apple founder Steve Jobs, has seen a significant decrease in her wealth, losing about $5 billion from her net worth.
The American businesswoman inherited her fortune primarily through shares of Walt Disney and Apple from her late husband, who co-founded Apple and passed away in 2011.
According to data tracked by Nairametrics, in 2021, Powell’s net worth was estimated at $19 billion. However, Forbes’ current estimations suggest her net worth has declined to around $14.2 billion in 2023, reflecting a 25% decrease.
The main contributors to Laurene Powell Jobs’ wealth are her holdings in two publicly traded companies: Walt Disney and Apple. Her 4% interest in Disney, held through family trusts, significantly influences her overall wealth. Though there is no current requirement for disclosure, it is assumed that she has been selling 10% of her Disney shares annually since her last disclosure.
The fluctuations in the stock prices of Apple and Walt Disney, along with her generous charitable donations over the years, have contributed to the changes in her net worth. In 2021, the average stock prices of Apple and Walt Disney stood at $139.39 and $126, respectively, while in 2023, they have shifted to an average of $192 for Apple and $86.60 for Walt Disney.
Beyond her immense wealth, Laurene Powell Jobs is renowned for her active involvement in philanthropy and impact investing. As the founder and president of the Emerson Collective, she focuses on initiatives related to environmental justice, health, immigration, and education.
Her charitable donations have surpassed $2 billion, and in 2021, she established the Waverley Street Foundation, committing to donate $3.5 billion over a decade to organizations addressing climate change and environmental justice.
Apart from her philanthropic work, Powell Jobs has ventured into strategic investments, such as acquiring a 20% stake in Monumental Sports & Entertainment, a company controlling Washington D.C.’s sports teams, including the NBA Wizards and NHL Capitals, and Capitol One Arena.
Lauren Powell Jobs’ background is filled with remarkable achievements and contributions across various fields. She co-founded XQ Institute, where she serves as the board chair, actively working to create opportunities and implement innovative solutions in education, the environment, immigration, and health equity. Additionally, she co-founded College Track, a college completion program.
Her educational journey includes earning bachelor’s degrees in political science and economics from the University of Pennsylvania, followed by a Master of Business Administration from Stanford University’s Graduate School of Business.
Despite the decline in her wealth, Laurene Powell Jobs remains a prominent figure in philanthropy and investments, leaving a lasting legacy in areas close to her heart.