Laurene Powell Jobs

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Laurene Powell Jobs
Laurene Powell Jobs.jpg
Laurene Powell in 2012
Born
Laurene Powell

(1963-11-06) November 6, 1963 (age 55)[1][2]
NationalityAmerican
Alma materUniversity of Pennsylvania
Stanford University
OccupationBusiness executive
Net worthIncreaseUS$21.4 billion (May 2019)[3]
Political partyDemocratic
Spouse(s)
Steve Jobs
(m. 1991; died 2011)
Children3
Relatives

Laurene Powell Jobs (born November 6, 1963) is an American businesswoman, executive and the founder of Emerson Collective, a social impact organization that, among other investing and philanthropic activities, advocates for policies concerning education and immigration reform, social justice and environmental conservation.[4] She is also co-founder and president of the board of College Track, which prepares disadvantaged high school students for college.[4] Powell Jobs resides in Palo Alto, California, with her three children.[5] She is the widow and heir of Steve Jobs, co-founder and former CEO of Apple Inc. She manages the Laurene Powell Jobs Trust.[6][7]

Early life and career[edit]

Powell Jobs grew up in West Milford, New Jersey.[8] She earned a B.A. in Political Science from the University of Pennsylvania School of Arts and Sciences and a B.S. in Economics from the Wharton School of the University of Pennsylvania in 1985.[4][9][10] She received her M.B.A. from the Stanford Graduate School of Business in 1991.[4][10][11]

In October 1989, Steve Jobs gave a "View from the Top" lecture at Stanford Business School. Laurene Powell was a new MBA student and sneaked to the front of the lecture and started up a conversation with Jobs, who was seated next to her. They ended up having dinner together that night.[citation needed] A year and a half later on March 18, 1991, they married in a ceremony at the Ahwahnee Hotel in Yosemite National Park.[12] Presiding over the wedding was Kobun Chino Otogawa, a Zen Buddhist monk.[12][13] Their son, Reed, was born September 1991, followed by daughters Erin in 1995 and Eve in 1998. Laurene is also the stepmother of Lisa Brennan-Jobs, Steve's daughter from a previous relationship. She was born in 1978.

Powell Jobs co-founded Terravera, a natural foods company that sold to retailers throughout Northern California.[4][5] She also served on the board of directors of Achieva, which created online tools to help students study and be more effective at standardized testing.[5] Before business school, Powell Jobs worked for Merrill Lynch Asset Management and spent three years at Goldman Sachs as a fixed-income trading strategist.[4][5]

On October 3, 2017, reports indicated Powell Jobs had purchased stake in the ownership group Monumental Sports & Entertainment that includes the NBA's Washington Wizards, NHL's Washington Capitals, and Capital One Arena. Her approximately twenty percent stake makes her the second largest shareholder behind chairman Ted Leonsis.[14][15]

Steve Jobs's death[edit]

On October 5, 2011, at the age of 56, Steve Jobs, the CEO of Apple, died due to complications from a relapse of his previously treated islet-cell neuroendocrine pancreatic cancer.[16][17] Powell Jobs inherited the Steven P. Jobs Trust, which as of May 2013 had a 7.3% stake in The Walt Disney Company worth approximately $11.1 billion, and 38.5 million shares of Apple Inc.[7][8][10] As of 2018, Powell Jobs and her family are ranked 40th in the Forbes' annual list of the world's billionaires.[18] According to the same list, she is the richest woman in the technology industry.

Personal life after Steve Jobs's death[edit]

She is reportedly in a romantic relationship with former Washington, D.C. mayor Adrian Fenty.[19] In May 2018, she bought a property in San Francisco that had been listed for 16.5 million USD, on Russian Hill.[20][21]

Philanthropy[edit]

In 1997, Powell Jobs and Carlos Watson co-founded College Track, a nonprofit organization in East Palo Alto to improve high school graduation, college enrollment, and college graduation rates for "underserved" students.[22][23][24][25] Of College Track's high school graduates, many of whom are first-generation college students, approximately 90 percent attend four-year colleges and 70 percent finish college in six years, whereas the national average for first-generation college students is 24 percent.[24] College Track has facilities in East Palo Alto, Sacramento, San Francisco, Oakland, Watts, Boyle Heights, New Orleans, Aurora, Colorado, Denver, and the Washington, D.C., area.[23][24][26][27] "We have a wait list of five cities where we'd like to open up centers," Powell Jobs has said. "We want to keep our standards high, though, and are reluctant to grow through franchising or through dissemination of our curriculum and training."[24]

In 2004, Powell Jobs founded the Emerson Collective, an organization that supports social entrepreneurs and organizations working in education and immigration reform, social justice, media and journalism and conservation through partnerships, grants and investments.[4][28] Emerson Collective spearheads several social and advocacy projects, including campaigns that support DACA and Dreamers.[28][29][30][31][32] Emerson Collective co-founded Concordia Studio which produces and finances documentary films and series with social justice related subject matter. [33]

As of 2018, Powell Jobs sits on the board of directors of College Track, Conservation International, and Stanford University.[4][10][34] She is chair of the board of directors of XQ[35] and also sits on the chairman's advisory board of the Council on Foreign Relations.[4][34] In 2014, she was ranked as the 29th most powerful woman in the world by Forbes. Her ranking rose from #39 in 2013.[36]

In September 2015, Powell Jobs launched a $50 million project to create high schools with new approaches to education. Called XQ: The Super School Project, the initiative aims to inspire teams of educators, students, and community leaders to create and implement new plans for high schools. Efforts include altering school schedules, curriculums and technologies in order to replace the country's century-old high school education model. Funding for XQ comes from Powell Jobs' Emerson Collective. Following an initial $50 million financial contribution,[37][38] XQ announced an additional contribution, awarding ten schools $10 million each, for a total financial contribution of $100 million.[39][40][41] The schools were chosen from approximately 700 submissions nationwide.[42][43] Powell Jobs' team of advisors is led by Russlynn H. Ali.[37][38]

On July 28, 2017, Powell Jobs' organization Emerson Collective (based in Palo Alto, California) acquired majority ownership of The Atlantic.[44][45]

Powell Jobs is a founding member of the Climate Leadership Council.[46]

References[edit]

  1. ^ a b Isaacson, Walter (2011). "Family Man". Steve Jobs (First ed.). Simon & Schuster. p. 269. ISBN 978-1-4516-4853-9. Lauren Powell had been born in New Jersey in 1963 and learned to be self-sufficient at an early age.
  2. ^ United States birth records
  3. ^ "Laurene Powell Jobs & family". Retrieved February 26, 2018.
  4. ^ a b c d e f g h i "Laurene Powell Jobs". Emerson Collective. Retrieved September 17, 2013.
  5. ^ a b c d "Laurene Powell Jobs". Parsa. Archived from the original on September 14, 2010. Retrieved September 17, 2013.
  6. ^ "Laurene Powell Jobs & family". Forbes. November 2014. Retrieved November 29, 2014.
  7. ^ a b Golum, Rob (November 24, 2011). "Jobs's 7.7% Disney Stake Transfers to Trust Led by Widow Laurene". Bloomberg News. Retrieved July 4, 2013.
  8. ^ a b Peter Lattman; Claire Cain Miller (May 17, 2013). "Steve Jobs's Widow Steps Onto Philanthropic Stage". The New York Times. Retrieved May 18, 2013.
  9. ^ "Trustees' Council of Penn Women". University of Pennsylvania. Laurene Powell Jobs, CW'85
  10. ^ a b c d "Laurene Powell Jobs". Forbes. Retrieved September 17, 2013.
  11. ^ "President Obama Announces Members of the White House Council for Community Solutions". Press Release. The White House. December 14, 2010.
  12. ^ a b Owen W. Linzmayer. Apple Confidential 2.0: The Definitive History of the World's Most Colorful. Retrieved September 17, 2013.
  13. ^ Elkind, Peter (March 5, 2008). "America's Most Admired Companies: Steve Jobs (pg 2)". CNNMoney. Archived from the original on February 18, 2010. Retrieved September 17, 2013.
  14. ^ Zucker, Joseph. "Steve Jobs' Widow, Laurene, Reportedly Purchased 20% Stake in Wizards, Capitals". Bleacher Report. Retrieved October 3, 2017.
  15. ^ Heath, Thomas (October 3, 2017). "Laurene Powell Jobs is buying a big stake in Wizards, Capitals sports empire". Washington Post. ISSN 0190-8286. Retrieved October 3, 2017.
  16. ^ "Rare Pancreatic Cancer Caused Steve Jobs' Death" (Press release). Voice of America. October 7, 2011. Archived from the original on January 24, 2012. Retrieved October 7, 2011.
  17. ^ "Apple Co-Founder Steve Jobs Dies At Age 56". Forbes. Retrieved September 17, 2013.
  18. ^ "The World's Billionaires: Laurene Powell Jobs & family". Forbes. Retrieved March 5, 2016.
  19. ^ Roberts, Roxanne; Argetsinger, Amy (August 9, 2013). "Adrian Fenty and his 'budding romance' with Laurene Powell Jobs, widow of Steve Jobs". The Reliable Source. The Washington Post. Retrieved August 24, 2013.
  20. ^ Vongs, Pueng (May 10, 2018). "Photos: Steve Jobs' widow Laurene Powell Jobs buys San Francisco mansion for $16.5M". The Mercury News. Retrieved May 21, 2018.
  21. ^ Canales, Katie (May 10, 2018). "Laurene Powell Jobs bought a new $16.5 million dollar San Francisco home". Business Insider. Retrieved May 21, 2018.
  22. ^ Lattman, Peter; Miller, Claire Cain (May 17, 2013). "Steve Jobs's Widow Steps Onto Philanthropic Stage". The New York Times. Retrieved February 10, 2015.
  23. ^ a b "Our Vision". College Track. Retrieved March 6, 2017.
  24. ^ a b c d Sparks, Evan (Spring 2010). "The Old College Try". Philanthropy. Retrieved October 12, 2011.
  25. ^ Brow, Jason (July 28, 2017). "Laurene Powell Jobs: 5 Things About Steve Jobs' Widow & New Owner Of 'The Atlantic'". Hollywood Life. Retrieved August 24, 2017.
  26. ^ "2013 Global Conference Speakers". Retrieved September 18, 2013.
  27. ^ Howard Blume (November 15, 2015). "Laurene Powell Jobs launches college-support program in Watts". The Los Angeles Times. Retrieved December 29, 2015.
  28. ^ a b "Steve Jobs' Widow Debuts Philanthropic". Retrieved September 18, 2013.
  29. ^ "Tech Titans Fund Undocumented Students". Retrieved September 18, 2013.
  30. ^ "Silicon Valley tech leaders help undocumented students". Retrieved September 18, 2013.
  31. ^ "The Dream is now". Retrieved September 17, 2013.
  32. ^ Lessin, Jessica E.; Jordan, Miriam (May 16, 2013). "Laurene Powell Jobs Goes Public to Promote Dream Act". The Wall Street Journal. Retrieved February 10, 2015.
  33. ^ "Laurene Powell Jobs Is Financing a Documentary Movie Studio". Bloomberg. Bloomberg News. Retrieved June 21, 2018.
  34. ^ a b "Jobs's Wife Backs Education Causes". Retrieved September 18, 2013.
  35. ^ Emma Brown (September 15, 2015). "Laurene Powell Jobs donates $50 million to redesign high school". The Washington Post. Retrieved December 29, 2015.
  36. ^ "The World's 100 Most Powerful Women". Forbes. Forbes. Retrieved June 24, 2014.
  37. ^ a b Medina, Jennifer. "Laurene Powell Jobs Commits $50 Million to Create New High Schools". NY Times.com. New York Times. Retrieved November 23, 2015.
  38. ^ a b Monica Scott (November 16, 2015). "How Grand Rapids could get $10M for Museum School". Michigan Live. Retrieved December 29, 2015.
  39. ^ Katie Reilly (September 15, 2016). "These 10 Ideas Are Each Getting $10 Million to Change High School". Time.
  40. ^ Greg Toppo (September 16, 2016). "$100M from Laurene Powell Jobs to remake schools for high tech age". USA Today.
  41. ^ Elizabeth A. Harris. "$100 Million Awarded in Contest to Rethink U.S. High Schools".
  42. ^ "Ten U.S. "Super Schools" awarded $10M each for reimagining education". CBS News. September 15, 2016.
  43. ^ Saranac Hale Spencer (September 15, 2016). "Delaware school's $10 million innovation". Delaware Online.
  44. ^ White, Gillian B. (July 28, 2017). "Emerson Collective Acquires Majority Stake in The Atlantic". The Atlantic. Retrieved July 28, 2017.
  45. ^ Halper, Daniel (July 28, 2017). "Key Dem Donor Takes Over 'Country's Most Important' Journalistic Institution". The Washington Free Beacon. Retrieved July 29, 2017.
  46. ^ "Founding Members | Climate Leadership Council". Climate Leadership Council. Retrieved September 12, 2017.

External links[edit]