Steve Jobs Net Worth And Everything You Want To Know (2022 Update)

Steve Jobs Net Worth: Co-founded Apple with Steve Wozniak and ushered in the era of the personal computer.

The iMac, the iPod, the iPhone, and the iPad were all released during his tenure as Apple’s CEO, and they all represented major technological breakthroughs at the time.

He also co-founded the software firm NeXT, served as chairman of Pixar, and was a director at The Walt Disney Company.

KEY FACTS

  • He parted with $100 million in 1985 for his 20% ownership in Apple.
  • At the time of his death in 2011, he was worth an estimated $10.2 billion
  • Although Apple accounted for $2 billion of that total,
  • Sale of Pixar in 2007 resulted in 138 million Disney shares.
  • In 2011, those 138 million shares were worth $8 billion.
  • Steve, were he still alive today, would be worth $42 billion.
  • Widow In 2017, Laurene Powell Jobs sold $7 billion worth of the family’s Disney stock.
  • Valued at $30 billion, Laurene Powell Jobs
  • Laurence receives yearly dividends from Apple totaling $ 160,000,000.
  • Laurence receives annual dividends of $120 million from Disney.

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Early Life

A native San Franciscan, Steven Paul Jobs entered the world on February 24, 1955. Abdulfattah Jandali and Joanne Schieble were his biological parents. Paul and Clara Jobs adopted him as a child.

Paul Reinhold Jobs’ adoptive father was a Coast Guard Mechanic named Paul Reinhold Jobs, who left the service in 1946 to marry Clara Hagopian.

Clara is the daughter of Armenian immigrants and was raised in San Francisco. Paul left the Coast Guard to become a “repo guy,” or an auto mechanic.

Due to Clara’s ectopic pregnancy, the couple began thinking about becoming adoptive parents. In the year 1957, Steve’s older sister Patricia was adopted by Paul and Clara.

The trip to Mountain View, California in 1959 was the catalyst for the family’s eventual relocation there. Paul built his kid a workstation in the garage so he could share his passion for cars with him.

At the age of 10, Jobs had already made many friends among the neighborhood engineers thanks to his interest in the field.

Jobs struggled to concentrate in a standard school setting. In school, he repeatedly defied teachers and administrators and was suspended for his antics.

Making friends among kids his age was challenging for him. A gifted student, he advanced to sixth grade without ever having to repeat fifth.

This year, he’ll be a sixth-grader at Mountain View’s Crittenden Middle School. Jobs said he was frequently the target of bullying in middle school and described himself as an outcast at the time.

By the second half of seventh grade, he had had enough of the bullying and threatened to drop out unless his parents allowed him to transfer schools.

When Steve Jobs wanted to switch schools in 1967, his family, who was not very well off, spent all of their funds on a new home.

The new home the Jobs family purchased was located in the highly regarded Cupertino School District.

Jobs got his first employment in the electronics industry in 1968, when he was just 13 years old, all thanks to a cold call he made to Hewlett-Packard founder Bill Hewlett.

In 1968, Jobs enrolled at Homestead High School to begin his high school education.

He was introduced to Steve Wozniak by Bill Fernandez. When Jobs was a teenager, he was into electronics and reading.

Chrisann Brennan, a junior, was dating Wozniak, a senior, and the two became very close friends throughout their final year of high school.

In 1971, Wozniak enrolled at UC Berkeley, and Jobs began making weekly visits to see him. Jobs was a high school senior at the time, and he was enrolled in English studies at Stanford University at the freshman level.

It was at this time that Woz created the “blue box,” a low-cost digital gadget that, by producing specific tones, could trick the phone system into letting the user make long-distance calls for free.

Jobs made the call to promote and sell them, and he and Wozniak agreed to divide the proceeds 50/50. Because of this, Jobs came to the realization that working with electronics could be not only lucrative but also enjoyable.

Jobs started classes at Reed College in Portland, Oregon, in September 1972. He only applied to this expensive institution. Following only one semester at Reed, Jobs abruptly left without informing his parents.

In his opinion, the school was pointless and he didn’t want to waste his parents’ money on it.

Jobs ate for free at the local Hare Krishna temple and slept on the floor of a friend’s dorm room to save money for food. He also recycled Coke bottles.

Apple

Steve Jobs Net Worth
Steve Jobs Net Worth

In February of 1974, Jobs moved back in with his parents in Los Altos and began actively seeking employment. He now works as a technician for Atari, Inc. in Los Gatos, California.

“He was very often the sharpest guy in the room, and he would let people know that,” said Atari co-founder Nolan Bushnell, who subsequently described him as “tough but valuable.”

Wozniak had finished the Apple I’s basic design by March 1976, at which point Jobs offered to help them market it.

After returning from a fruit farm where he had eaten nothing but apples for more than 10 days straight, Jobs came up with the moniker.

To him, the word “Apple” embodied the qualities of being “fun, energetic, and not scary,” making it ideal for a novel piece of technology.

Jobs also proposed that Wozniak turn his Apple 1 into a commercial product that other computer enthusiasts might purchase, as Wozniak had originally planned to give away all of the components for free.

In the early morning hours of April 1, 1976, Jobs, Wozniak, and administrative overseer Ronald Wayne started Apple Computer Company (now known as Apple Inc.) in Jobs’s parent’s garage.

The enterprise was launched from Jobs’s personal quarters and then relocated to his garage. After a brief stint, Wayne left Apple, Inc., leaving Jobs and Wozniak as its two principal cofounders and primary active members.

By the end of that year, computer vendor Paul Terrell had bought 50 completely constructed Apple Is from them at a price of $500 apiece. About 200 Apple I computers was built in the end.

The Apple 1 was a huge success right away, and its popularity paved the way for the even more popular Apple II. In 1976, Apple made $175,000 in sales. Sales increased to $2.7 million that year.

In 1980, after generating $117 million in revenue, Apple went public. More than 300 Apple employees became millionaires as a result of the IPO.

To promote its new Macintosh computer, Apple ran a Super Bowl advertisement on January 22, 1984, titled “1984,” the final line of which read, “On January 24th, Apple Computer will present Macintosh.

And you’ll realize why the year 1984 won’t be like 1984.” At Apple’s annual shareholder’s meeting on January 24, 1984, Jobs tearfully introduced the Macintosh to an ecstatic crowd.

The Macintosh received glowing reviews from the press, and early sales were promising.

The poor processing speed and restricted selection of available software quickly drove sales down in the second half of 1984.

After the Macintosh computer he created failed to meet expectations in sales, Apple fired Jobs in 1985.

For the ensuing years, Jobs focused on expanding his computer business NeXT (which Apple would need to acquire for its operating system), and his animation studio, Pixar. In 1997, Apple paid $427 million to acquire NeXT and bring Jobs back to the company.

What followed is common knowledge.

Apple was on the verge of bankruptcy when Jobs revived the company with the iMac, launching a product line that would eventually produce the iPod, iTunes, iPhone, iPad, Apple Watch, Apple TV, etc., and making Jobs a multi-billionaire.

In addition, Jobs made a lot of money from Pixar. Beginning in 1986, when he purchased the young animation business from George Lucas, he served as both CEO and largest shareholder.

Toy Story, released in 1995, was a huge success for the production company. The 2006 acquisition of Pixar by Disney cost $7.4 billion and was settled entirely in Disney stock.

Quitting Apple and Dying

Almost everyone assumed his sudden departure from Apple was due to his health on August 24th, 2011, the day he unexpectedly announced his resignation.

Steve Jobs passed away on October 5, 2011, due to complications from pancreatic cancer. Tim Cook, an Apple veteran, and former chief operating officer succeeded him.

Steve Jobs Net Worth

Steve Jobs Net Worth: Prior to his death in 2011, American entrepreneur and innovator Steve Jobs was Net worth of an estimated $10.2 billion.

A prominent figure in the history of technology, Steve Jobs was the co-founder and CEO of Apple Inc.

Jobs previously led Pixar Animation Studios before selling the company to Disney.

Despite being only 23 years old at the time, Jobs was already Net Worth over $1 million in 1978, two years before Apple went public.

There was a $250 million valuation for Apple once it went public in December 1980.

When Steve Jobs passed away in 2011, he was worth a lot more than just his Apple stock holdings. It was a piece of Disney property.

Why? How?

Following an intense boardroom conflict in 1985, Steve left Apple.

Within days, he had sold 99.999 percent of his original 20 percent ownership in the business, bringing in somewhere in the neighborhood of $100 million.

He allegedly preserved one stake so he could continue getting annual reports and, if he so desired, attend shareholder meetings.

In 1996, Apple hired Steve back after his previous business, NeXT, was bought. After a year, he was promoted to CEO once more.

In this process, the board of directors at Apple offered Steve a very lucrative stock options package to entice him back to his old position.

The number of Apple shares he had at his peak was 5.5 million. Three years after his passing, in 2014, the stock split 7-1, increasing his original holding to 38.5 million shares.

In August of 2020, after a 4-1 stock split, that holding became 154 million shares. At the time of writing, $20 billion can be calculated from 154 million shares.

It’s estimated that Steve’s wife, Laurene Powell Jobs, receives roughly $160 million a year in dividends on those shares.

There was a $2 billion value to Steve’s Apple stock when he passed away in 2011. His $8 billion in Disney stock was the largest single asset he owned.

When he sold Pixar to Disney in 2007, he was rewarded with 138 million Disney shares.

Following the transaction, he became Disney’s single largest shareholder. Half of Laurene’s holdings (64 million shares) were sold in 2017 for $7 billion.

Steve could have kept an extra $400 billion if he hadn’t sold that 20 percent of Apple back in 2010.

Both shares and the rest of the couple’s assets went to Steve’s widow, Laurene Powell Jobs. At present, her fortune is estimated at $30 billion. Now, she ranks among the top 20 wealthiest people in the United States.

Personal Life

In 1991, Jobs tied the knot with Laurene Powell. When she was a graduate student at Stanford, they crossed paths. They were listening to his guest talk.

Besides becoming a successful entrepreneur, Powell also formed the advocacy group Emerson Collective.

Lisa Brennan-Jobs, a writer, is the daughter of Jobs and his high school lover, the painter and artist Chrisann Brennan. Mona Simpson, Steve’s sister, is a best-selling author.

In the biopic Steve Jobs, released in 2015, Michael Fassbender played Jobs. In the 2013 film Jobs, Ashton Kutcher also portrayed him.

Real Estate/Homes

Steve bought the Jackling House in Woodside, California in 1984. The house has 14 rooms and is 17,000 square feet.

Built-in 1925 for copper tycoon Daniel Cowan Jackling, the original house has since been demolished. In this case, it was George Washington Smith, a famous architect from California.

In this house, Steve stayed during what was undoubtedly the lowest moment of his business career: after he had left Apple.

In 1991, he started dating his future wife Laurene when he was a resident of this building, thus he had some good times while he was here as well. They were already residents when Steve and Laurene had their first child.

It’s unclear why, but Steve really didn’t like living there.

His only desire was to tear it down and start over from scratch. Before 2001, he had not submitted any demolition permits to the city of Woodside.

It was Steve’s intention for the house to fall into disrepair over the next few years as the town debated the plans. Plans for his demolition were given the light by the town of Woodside in 2004.

A legal struggle lasting years ensued after this declaration infuriated nearby residents and preservationists. This case reached the California Supreme Court.

Jobs’ appeal of a lower court’s decision to throw out his plans was upheld by the Supreme Court.

The demolition of Jobs’s home was ultimately approved in March of 2010. Dismantling began in February of 2011 if memory serves.

Jobs passed away only eight months after the house was demolished. Laurene, Steve’s surviving spouse, and property owner has spent the last decade developing the land and constructing a stately home.

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