Laurene Powell Jobs was already a brilliant businesswoman with a promising future before she met, almost by chance, the person who would be her life partner for the next 22 years. As fate would have it, one day he arrived late to a conference in 1989 and sat next to the main speaker: Steve Jobs. What transpired from that moment became an essential chapter in the history of technology.
After Jobs’ death, Laurene inherited most of the Apple founder’s fortune, which she only had to share with Steve’s first daughter, Lisa Brennan-Jobs. Lisa, who became a household name tied to the legacy of Apple, was the result of Jobs’ earlier relationship.
The majority of the inheritance consists of Jobs’ shares in Apple and Disney, valued at around $10 billion in 2011. Laurene has expressed her intentions clearly: “I am not interested in building on the legacy of an inheritance. Steve wasn’t interested in that either. If I live long enough, that inheritance will end with me.”
Recent philanthropic endeavors indicate that Laurene plans to maintain her word and utilize her fortune as Steve would have wished—channeling her efforts into philanthropy until her passing.
Goal: Donate $3.5 Billion Over the Next 10 Years
Similar to MacKenzie Scott, the ex-wife of Jeff Bezos, Laurene Powell Jobs has opted not to join the Giving Pledge—an initiative led by Bill Gates and Warren Buffett. Instead, she has chosen to fund her philanthropic goals independently, aiming to positively impact the lives of individuals and communities, particularly in addressing climate change.
With a background in political science and an MBA from Stanford, Laurene is no stranger to managing funds. Apart from her philanthropic activities, she has launched a healthy eating company and achieved impact investment success that allows her to fund social and environmental projects while preserving her wealth.
Even though the value of Disney and Apple shares has risen tenfold over the past decade, Laurene’s current fortune is estimated at approximately $14 billion. This figure reflects her significant contributions to charitable causes.
Since Steve Jobs’ passing, Laurene has established two charitable foundations, dedicating her philanthropic focus. The first, Emerson Collective, emphasizes educational initiatives aimed at providing equal opportunities for marginalized groups.
The second foundation, Waverley Street Foundation, is a global initiative protecting vulnerable populations from climate change while supporting education, health, and natural space preservation projects in their communities.
Laurene aims to invest $3.5 billion in the next decade through this initiative. “I inherited my wealth from my husband, who did not prioritize accumulating it. I do this in honor of his work and devote my life to effectively distributing it to help communities sustainably.”
This financial commitment pales in comparison to Jeff Bezos’s $10 billion commitment, Mark Zuckerberg’s $45 billion, Warren Buffet’s more than $160 billion, or even Bill Gates’s dedication of 90% of his fortune.
While Laurene remains committed to her philanthropic efforts, she also enjoys her wealth. She has been spotted vacationing in Mallorca on the Venus, the family yacht designed by Jobs himself, valued at an impressive $120 million.
The couple’s three children do not appear to be concerned about Jobs’ fortune, as they are already pursuing established careers outside the public eye. Reed Paul has put his father’s last name aside to study oncology at Stanford University. Erin Siena works as an architect and designer, while Eve Jobs manages to balance her degree in Science, Technology, and Society with a modeling career on major runways.
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Image | Flickr (TechCrunch)