Laurene Powell Jobs Spends Half of Steve Jobs’ $5 Billion Inheritance on Philanthropy
Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, has reduced her fortune by roughly $5 billion since inheriting it in 2011. This amount represents about half of the wealth her late husband left her when he passed away at age 56. At the time of his death, Jobs had primarily bequeathed his holdings in Apple and Disney stock to his wife and children. These investments have since appreciated significantly, further increasing Powell Jobs' net worth.
Powell Jobs revealed in an interview with the New York Times that Jobs had specifically asked her not to let his fortune outlive them. He wanted the money to be returned to society, a request she has taken to heart. She has since dedicated herself to distributing the wealth through various social causes. “I inherited my wealth from my husband, who didn’t care about the accumulation of wealth,” Powell Jobs stated. “I am doing this in honor of his work, and I’ve dedicated my life to doing the very best I can to distribute it effectively, in ways that lift up individuals and communities in a sustainable way.”
A significant portion of Powell Jobs’ wealth has been directed toward Emerson Collective, an organization focused on impact investing, philanthropy, and advocacy around environmental justice, health, immigration, and education. She serves as president of the group and owns 70% of its shares. It is estimated that she has already donated over $2 billion to charitable causes through this fund. Additionally, she has been selling roughly 10% of her Disney shares each year since 2011.
In 2021, Powell Jobs pledged to donate $3.5 billion over 10 years to organizations developing innovative solutions to climate change, a commitment she is fulfilling through the Waverley Street Foundation. Powell Jobs and Steve Jobs were married for 20 years, and although she has maintained a low public profile since his passing, she remains fully committed to honoring his legacy. “If I live long enough, [the inherited fortune] ends with me,” she said.