NEW JERSEY, USA – Laurene Powell Jobs, widow of Apple co-founder Steve Jobs and a billionaire businesswoman in her own right, has seen a considerable decline in her wealth, amounting to a $5 billion loss.
The primary sources of Powell Jobs’ wealth have been shares of Walt Disney and Apple, left to her by her late husband, Steve Jobs, who passed away in 2021. As of 2021, Powell Jobs’ net worth was estimated at $19 billion.
However, recent estimations by Forbes on Monday, July 24, 2023, suggest a considerable decline in her net worth, which now stands at around $14.2 billion, marking a 25% decrease since 2021.
The dramatic change in Powell Jobs’ net worth is attributed to fluctuations in the stock prices of Apple and Walt Disney, as well as her significant charitable donations over the years.
Apple and Walt Disney stocks traded at an average of $139.39 and $126 respectively in 2021, while in 2023, these averages have shifted to $192 for Apple and $86.60 for Walt Disney.
Powell Jobs’ 4% stake in Disney, controlled through family trusts, significantly influences her wealth. It is presumed that she has been selling 10% of her Disney shares annually since her last disclosure.
But Powell Jobs is not just a wealthy heiress; she is an active philanthropist and impact investor. As the founder and president of the Emerson Collective, she concentrates on environmental justice, health, immigration, and education.
Powell Jobs has made over $2 billion in charitable donations through Emerson and a Goldman Sachs donor-advised fund.
In 2021, she established the Waverley Street Foundation, pledging to donate $3.5 billion over a decade to organizations addressing climate change through innovative solutions and promoting environmental justice.
In addition to her philanthropic activities, Powell Jobs has made strategic investment decisions, such as acquiring a 20% stake in Monumental Sports & Entertainment, a company controlling Washington D.C.’s sports teams and Capitol One Arena, valued at $4.1 billion in 2022.
Powell Jobs has made significant contributions to various sectors as an accomplished entrepreneur and philanthropist.
She co-founded and chairs the board of XQ Institute and College Track, both dedicated to creating educational opportunities.
She holds a Bachelor’s degree in political science and economics from the University of Pennsylvania, and an MBA from Stanford University’s Graduate School of Business.
Despite a drop in her wealth, Powell Jobs remains influential through her philanthropy and strategic investments, continuing to make substantial impacts in sectors that matter most to her.
