Laurene Powell Jobs says 'It ends with me'

Avery Hartmans, Business Insider February 28, 2020

Laurene Powell Jobs says she won't pass down her and Steve Jobs' billions to their children: 'It ends with me'

Laurene Powell Jobs, the widow of Apple CEO Steve Jobs, isn't interested in "legacy wealth building," according to a new interview in The New York Times.

"Steve wasn't interested in that. If I live long enough, it ends with me," she told The Times.

Powell Jobs is worth an estimated $24 billion, which she inherited after Jobs died in 2011. She invests in causes like immigration, education, and the environment through her organization Emerson Collective.

Laurene Powell Jobs says she isn't interested in passing her fortune down to her children.

The Emerson Collective founder and widow of Apple CEO Steve Jobs said in a new interview with The New York Times' David Gelles that she's dedicated her life to distributing Jobs' fortune "effectively, in ways that lift up individuals and communities in a sustainable way," and that she isn't planning on building a family dynasty.

"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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Powell Jobs said she believes a massive accumulation of wealth is "dangerous for a society," and pointed to 19th- and 20th-century families like the Rockefellers, Carnegies, Mellons, and Fords as examples.

"It's not right for individuals to accumulate a massive amount of wealth that's equivalent to millions and millions of other people combined," she said. "There's nothing fair about that."

Powell Jobs inherited her husband's Apple and Disney shares when he died in 2011, and is currently worth $24 billion, according to the Bloomberg Billionaires Index.

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