The widow of Apple founder Lauren Powell Jobs has lost about $5 billion of her wealth.
The American businesswoman inherited her fortune mainly through Walt Disney and Apple shares from her late husband, Apple co-founder Steve Jobs, who died in 2011.
According to data tracked by Nairametrics, the billionaire founder and chairman of Emerson Collective, an impact investment, philanthropy and advocacy firm focused on environmental justice, health, immigration and education, was worth $19 billion in 2021.
Right now, Forbes estimates show Powell’s net worth to be around $14.2 billion, a 25% decline in 2023.
Based on data selected by Nairametrics, Apple and Walt Disney shares traded at an average of $139.39 and $126 in 2021. Meanwhile, in 2023 Apple and Walt Disney shares are trading at an average of $192 and $86.60
Why is Lauren Powell’s job $5 billion poorer?
Most of Laurene Powell Jobs’ fortune comes from her holdings in two publicly traded companies: Walt Disney and Apple.
His 4% stake in Disney, controlled through family trusts, has significantly influenced his wealth. Although there is no ongoing requirement for disclosure of your stake, it is assumed that you have been selling 10% of your Disney shares annually since your last disclosure.
The change in his net worth can be attributed to fluctuations in Apple and Walt Disney stock prices and his large charitable donations over the years.
In 2021, the average share prices for Apple and Walt Disney stood at $139.39 and $126, respectively. Fast forward to 2023, and these share prices have changed to an average of $192 for Apple and $86.60 for Walt Disney.
Laurene Powell Jobs is more than a rich person; She has been active in various philanthropic efforts and impact investments.
As the founder and president of Jobs the Emerson Collective, she focuses on environmental justice, health, immigration, and education.
Through Emerson and a Goldman Sachs donor-advised fund, he has made charitable gifts of more than $2 billion.
In 2021, he established the Waverley Street Foundation and committed to giving $3.5 billion over a decade to organizations tackling climate change through innovative solutions and promoting environmental justice.
Beyond his philanthropic work, Powell Jobs has also dabbled in investments, buying a 20% stake in Monumental Sports & Entertainment, the company that controls Washington DC sports teams, such as the NBA Wizards and NHL Capitals, along with Capitol One Arena.
This investment, valued at $4.1 billion in 2022, shows their strategic financial decisions.
Laurene Powell Works Background
Laurene Powell Jobs’ background is replete with achievements and contributions in various fields. As Co-Founder and Chairman of the Board of XQ Institute, she is active in creating opportunities and implementing innovative solutions to drive change in education, the environment, immigration, and health equity.
She also co-founded College Track, a college completion program, where she serves as chair of the board.
Laurene Powell Jobs’ educational track record is equally impressive, earning a BA in political science and economics from the University of Pennsylvania, followed by an MBA from Stanford University’s Graduate School of Business.
Despite facing declining wealth, Laurene Powell Jobs continues to make a significant impact through her philanthropic efforts and strategic investments, leaving a lasting legacy in many industries that matter to her.