Meet investor Laurene Powell Jobs, the billionaire widow of Steve Jobs who says her kids won't inherit the fortune
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- Laurene Powell Jobs is a powerful impact investor and philanthropist with a net worth of $11.3 billion.
- Powell Jobs hosts elaborate Halloween shows at her Silicon Valley home and owns a $110 million yacht.
- Here's a look at the life of the businesswoman, who is the widow of Apple cofounder Steve Jobs.
Laurene Powell Jobs, the 60-year-old billionaire, is a formidable presence in investing circles, with a net worth of $11.3 billion, according to Bloomberg's Billionaires Index.
Powell Jobs has used the fortune she inherited after the death of her husband, Apple cofounder Steve Jobs, to expand her own businesses and philanthropies.
Here's a look at the life of the businesswoman and philanthropist:
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Her father, a pilot, died in a plane crash when she was 3 years old. Her mother later remarried.
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After graduating from the University of Pennsylvania, she worked on Wall Street for Merrill Lynch and Goldman Sachs.
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It was there that she met Steve Jobs, her future husband.
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It turned out to be a guest lecture by Jobs.
"This was 1989," Powell Jobs told Isaacson. "He was working at NeXT, and he was not that big of a deal to me. I wasn't that enthused, but my friend was, so we went."
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"I knew that Steve Jobs was the speaker, but the face I thought of was that of Bill Gates," Powell Jobs told Isaacson. "I had them mixed up."
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Jobs ended up sitting next to his future wife: "I looked to my right, and there was a beautiful girl there, so we started chatting while I was waiting to be introduced," he said in the biography.
Powell Jobs joked that she was sitting up front because she'd won a raffle and the prize included a dinner with Jobs.
Jobs finished the lecture and chased after his future wife, who had already walked out of the hall. He found Powell Jobs in the parking lot and asked her about the raffle. She agreed to go to dinner with him on that Saturday, and they exchanged numbers.
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While Jobs' NeXT colleagues waited for their boss to show up, the tech founder and Powell Jobs spent four hours at the restaurant.
The couple remained together after that night.
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Other famous guests at the hotel over the years have included the late Queen Elizabeth II and former presidents John F. Kennedy and Barack Obama.
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Eve Jobs began modeling for the beauty brand Glossier in late 2020. She is 25 years old.
Jobs also previously had a daughter, Lisa Brennan-Jobs, with his high school girlfriend, Chrisann Brennan.
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Her stake in Disney initially made her the company's largest individual shareholder, but in 2017, she reduced her ownership to 4%.
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Forbes named her the 25th most powerful woman in the world in 2023.
"In the broadest sense, we want to use our knowledge and our network and our relationships to try to effect the greatest amount of good," she told The New York Times in 2013.
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She told the New York Times in 2020 that she isn't interested in passing her fortune down to her kids. "If I live long enough, it ends with me," she said.
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The pair sold Basmati rice platters and burritos with black bean dressing to white-collar workers in office parks. "We just wanted to offer a convenient way for them to eat healthy food," Powell Jobs told the Chicago Tribune in 1992.
She later backed away from Terravera to focus on her volunteer work tutoring underprivileged students in East Palo Alto.
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College Track now operates centers in three states and the District of Columbia.
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The Emerson Collective makes grants and investments that focus on immigration, environment, journalism, gun violence reduction, race and equity, and education, according to its website.
It's a private company rather than a traditional nonprofit and has funded several startups. The Washington Post has described it as a "kind of Justice League of practical progressives."
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AltSchool, however, made disappointing revenues and handed over control of its four schools to another start-up in 2019, according to Forbes.
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That venture aims to transform education by revamping how high schools approach curriculum. Powell Jobs is the chairwoman of XQ's board of directors.
Powell Jobs has also served on the board of several other organizations, including Teach for America, Conservation International, and the New America Foundation.
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In October 2017, she bought a 20% stake in Monumental Sports & Entertainment (MSE), the company that owns the NBA's Washington Wizards, the NHL's Washington Capitals, and Washington, D.C.'s Capital One Arena.
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She scrapped the venture when Wieseltier's former colleagues at The New Republic came forward with allegations of sexual misconduct against him in October 2017.
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Powell Jobs commended the magazine for its drive to "bring about equality for all people; to illuminate and defend the American idea; to celebrate American culture and literature; and to cover our marvelous, and sometimes messy, democratic experiment."
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The Collective purchased television ads attacking former President Donald Trump's decision to rescind DACA in 2017.
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She backed Kamala Harris's presidential campaign before the then-California senator, now Vice President, withdrew from the race in December 2019.
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She donated $2 million to Clinton's Super PAC through the Emerson Collective and hosted a $200,000-a-plate fundraiser that raised over $4 million, CNN reported.
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She donated more than $600,000 to efforts to elect Biden.
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She was one of the Silicon Valley power players who showed support for California Gov. Gavin Newsom in March 2021 amid a Republican-led recall effort.
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She met with then-President Donald Trump to discuss the topics in March 2017.
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In 2018, she bought a $16.5 million home in San Francisco that boasts six bedrooms, 6.5 bathrooms, and incredible views of the city.
Over the years, she's owned three other homes in the Bay Area, including a 5,768-square-foot house she shared with her late husband. She puts on elaborate Halloween shows in front of the houses each year that attract as many as 3,000 people. In 2019, the event was called "Fog Town" and featured a jack-o'-lantern tower and professional lighting, actors, and special effects.
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It's the fourth property she's bought in Malibu in roughly 10 years, according to the Los Angeles Times.
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The yacht cost at least $110 million to build and was commissioned by Jobs but completed after he died.
It's been spotted in places like Göcek, Turkey; Milos, Greece; and Brijuni, Croatia.
Besides sailing, some of Powell Jobs' other hobbies include art collecting and beekeeping.
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"I'm very aware of the fact that we're all just passing through here," Powell Jobs told The Washington Post in 2018. "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."
In an interview with The New York Times in 2020, she shared similar sentiments.
"I'm not interested in legacy wealth buildings, and my children know that," Powell Jobs told The Times. "Steve wasn't interested in that. If I live long enough, it ends with me."
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