What Fortune Did Steve Jobs Leave Behind For His Family?
Laurene Powell Jobs is the widow of Apple co-founder, Steve Jobs. She holds the position of being the fourth wealthiest woman in the world. Moreover, she is among the 50 richest individuals on the planet. Powell Jobs inherited a major portion of her wealth from Steve Jobs, who left behind an estimated fortune of $14.1 billion. The bulk of the Fortune comes from an ownership stake in Disney.
However, Powell Jobs also owns shares from Apple and also controls multiple real estate properties, two private jets, and a 260-foot super yacht. If you want to read the full breakdown of her net worth of $14.1 billion, we suggest you continue reading.
The Current Holdings Of Laurene Powell Jobs
Steve Jobs, the co-founder of Apple, left his widow Laurene Powell Jobs the responsibility of controlling his assets. They are presently worth around $14.1 billion.
Steve was renowned for his work at Apple, but a major portion of his wealth comes from his stake in the Walt Disney Company. He received the stake after the sale of his animation studio Pixar to Walt Disney in 2006 for a sum of $7.4 billion. After he passed away in 2011, the 8% stake has swelled to $12.7 billion. This accounts for an estimated 90% of the wealth held by Powell Jobs.
Rich But Not The Richest
Despite ranking as the fourth wealthiest woman in the world, the widow of Steve Jobs cannot lay claim to being the richest. Powell Jobs also inherited a stake to the company cofounded by Steve Jobs, Apple 40 years ago. Currently, the stake is worth $560 million.
Unfortunately, when Steve was ousted from Apple in 1985, he had disposed nearly 11% of the shares from the company. Had he refrained from this action, Powell Jobs would presently be the richest woman in the world because the stocks would have been worth $65 billion today.
The Fortune Steve Jobs Left Behind Also Includes Properties
Powell Jobs is still in possession of the family home where she lived along with Steve and their children in Palo Alto, which is worth $8 billion.
Steve Jobs purchased the JackLing house in 1984. He demolished the place after a seven-year legal battle. Steve failed to submit any plans for a new structure before he passed away in October 2011.
Powell Jobs has recently submitted a proposal for the construction of the family’s dream home in Woodside, California. If it goes through, the new 15,689 square-foot estate will feature a yoga studio, two guesthouses, two swimming pools, wine and olive presses, and a 3707 ft.² main house.
Powell Jobs also controls two adjacent properties in Woodside, which are worth $7.5 million and $10 million each. She has purchased a $40 million property in Malibu, which is still under construction. The property will have 12 bedrooms and bathrooms when it is ready for occupation.
Expensive Toys Are Also Part of The Inheritance
Billionaires fancy overpriced toys. Powell Jobs holdings include two private jets and a super yacht. One of the jets is valued at $30 million while the other is estimated at $60 million. The 260 feet super-yacht is worth $130 billion and was designed by Steve Jobs along with the French industrial designer Philippe Starck. Steve Jobs was, however, unable to enjoy his creation because he passed away in 2011 while the super yacht was finally constructed in 2012.
Powell Jobs also holds a fortune of $700 million in the form of cash and liquid assets. This includes proceeds from salaries during the past, investments, dividends, bonuses, and transactions from stocks.
Powell Jobs utilizes her fortune wisely by backing a number of education-focused philanthropies. In September 2016, Powell Jobs set aside $50 million for the funding needed by XQ, a super school project and a venture that seeks to reform education from inside out.
The Fortune Steve Jobs left behind for his family is definitely being put to good use by Powell Jobs. She has made further investments in properties and is also funding philanthropies in the field of education.
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