Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, is a billionaire and a businesswoman herself. On July 28, she surprised many when her company, Emerson Collective LLC, bought a majority stake in The Atlantic, the iconic magazine that started publication in 1857.
The 53-year-old Jobs is a graduate of the University of Pennsylvania School of Arts and Sciences and the Wharton School of the University of Pennsylvania. She also has an M.B.A. from the Stanford Graduate School of Business. After Steve Jobs death in 2011, Jobs inherited the Steven P. Jobs Trust, making her and her family billionaires. Jobs has three children, son Reed and daughters Erin and Eve.
You can follow Jobs on Twitter.
Here’s a look at Jobs’ net worth and her latest business move.
1. Jobs & Her Family Has an Estimated Net Worth of $20.7 Billion
Jobs and her family currently sit at #40 on Forbes’ billionaires list. The magazine notes that she has an estimated net worth of $20.7 billion.
Jobs’ primary job is as chair and founder of Emerson Collective, an organization she founded in 2014. Its mission is to help disadvantaged students “live to their full potential.” She named the group after Ralph Waldo Emerson, the 19th century essayist and poet.
“Our basic belief, as Emerson taught, is that we are doubly obligated: we must rely on ourselves and we must rely on each other,” Jobs wrote in a letter posted on the Emerson Collective site. “By helping individuals to achieve their dreams, we unleash the full force of the world’s most powerful resource: human potential.”
Aside from Apple, much of the Jobs family fortune comes from her late husband’s 7.7 percent stake in The Walt Disney Company, which was transferred to the trust she leads.
2. Jobs Bought a Majority Stake in The Atlantic From Atlantic Media Owner David G. Bradley
On July 28, The Atlantic announced that Jobs is buying a majority stake in The Atlantic from Atlantic Media owner and chairman David G. Bradley, who is retaining a minority stake in the company. Bradley expects Emerson Collective to take full ownership of the magazine within five years.
The financial terms of the deal were not announced.
Bradley has owned The Atlantic since 1999, when he bought the Boston-based magazine for $10 million. The 64-year-old Bradley started looking for potential buyers last year when he and his wife realized that their three sons weren’t interested in inheriting the magazine.
“Against the odds, The Atlantic is prospering,” Bradley wrote in a memo to staff. “While I will stay at the helm some years, the most consequential decision of my career now is behind me: Who next will take stewardship of this 160-year-old national treasure? To me, the answer, in the form of Laurene, feels incomparably right.”
In her own statement, Jobs praised the magazine for its ability 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.”
Jobs follows in the footsteps of other tech executives who have stepped into the journalism world. Facebook co-founder Chris Hughes has a controlling stake in The New Republic and Amazon’s Jeff Bezos owns the Washington Post.
3. Jobs Also Owns a Stake in ‘The Revenant’ Movie Producer Anonymous Content
Like her late husband, Jobs has also expressed interest in the entertainment world. In September 2016, Variety reported that Emerson bought a minority stake in Anonymous Content, and will focus on “socially-relevant” film and TV projects.
Anonymous Content is best known for the footprint it left on the 2016 Awards season, when Alejandro G. Inarritu’s The Revenant won three Oscars and Spotlight won the Best Picture Oscar. The company has also produced acclaimed TV shows like True Detective, Mr. Robot and The Knick.
“Emerson Collective shares our commitment to creating high-quality content that both entertains and inspires, and we are eager to help further their bold initiatives,” Anonymous Content CEO Steve Golin said in a statement last year. “Our partnership will expand opportunities for our clients and Anonymous Content to highlight issues of social justice and produce projects that can serve as agents of change.”
4. She Spent $44 Million on a 3-Acre Malibu Estate in 2015
In June 2015, Variety reported that Jobs bought a three-acre Malibu estate for $44 million.
The estate was previously owned by entrepreneur Jack Ryan, who bought it in 2010 for $11.5 million. Variety reports that Ryan tore down the main house on the property to begin building a Colonial-style mansion. He didn’t finish it, and listed the property for sale online.
In March 2016, VentureBeat reported that Jobs is also trying to build the dream house her late husband never could in Woodside, California. In February 2011, Steve Jobs was finally able to tear down the Jackling House, but died before he could submit plans and begin construction of a new home on the property, which Jobs bought in 1984.
VenutreBeat reports that Jobs finally submitted a proposal to the Town of Woodside to build on the property, proposing a 15,689 square-feet estate.
Jobs also owns property in Florida. The Daily Mail reported in July 2016 that Jobs spent $15 million on a property in Wellington, Florida. The main house covers 10,043 square-feet and has four bedrooms and 5.5 bathrooms.
5. She Has a $100 Million Yacht, Which She Took to Croatia Days Before the Atlantic Sale
The Atlantic sale announcement came two days after Jobs was seen in Croatia with her boyfriend, former Washington D.C. Mayor Adrian Fenty, in Croatia. TMZ reported that she took a $100 million, 265-foot yacht named Venus to Croatia. It was commissioned by Steve Jobs in 2008, but wasn’t finished until 2012.
Jobs has been dating Fenty since at least August 2013. Sources told the Washington Post that they had a “budding romance” that began after Fenty joined the board of College Track, which Jobs co-founded. Fenty, who is also an adviser at the Andreessen Horowitz venture capital firm, was D.C.’s mayor from 2007 to 2011. He was previously married to Michelle Cross.
College Track was founded in 1995 by Jobs and Carlos Watson. Their goal is to help underprivileged students go to college by providing scholarships and financial support. Singer will.i.am is also on the Board of Directors.
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