What was Steve Jobs’ net worth and Salary?
Steve Jobs was an American inventor and business magnate who had a net worth of $10.2 billion at the time of his death in 2011. Steve Jobs was known for being the co-founder and chief executive officer of the technology giant, Apple Inc. Jobs also served as the chief executive of Pixar Animation Studios which he helped sell to Disney.
Jobs was worth over $1 million in 1978 when he was just 23 years old, two years before the company went public. After Apple went public in December 1980, he was worth $250 million.
Despite what you might assume, at the time of his death in 2011 the majority of Steve Jobs’ net worth did not come from Apple stock. It came from Disney stock.
Back in 1985, Steve resigned from Apple after an explosive boardroom war. Within days he sold 99.999% of what had been a 20% stake in the company, netting around $100 million. He reportedly kept a single share so he could continue receiving annual reports and attend shareholder meetings if he had the desire.
Steve returned to Apple in 1996 after his company NeXT was acquired. A year later he was named CEO again. As part of this process the Apple board coaxed Steve back to the job with an extremely generous stock options package. He ultimately grew to own 5.5 million shares of Apple. When the stock split 7-1 in 2014 (three years after his death), that stake became 38.5 million shares. When the stock split 4-1 in August 2020, that stake became 154 million shares. As of this writing, 154 million shares are worth $20 billion. Every year those shares produce around $160 million in dividends for Steve’s widow Laurene Powell Jobs.
At the time of his death in 2011, Steve’s Apple stake was worth $2 billion. His Disney stake was worth a little over $8 billion. He received 138 million shares of Disney upon selling Pixar in 2007. The sale made him the largest individual shareholder in Disney. In 2017, Laurene sold roughly half of her stake – 64 million shares – for $7 billion.
Had Steve never sold his 20% stake in Apple, today those shares alone would be worth $400 billion.
Steve’s widow Laurene Powell Jobs inherited both stakes, along with the rest of the couple’s assets. Today she is worth $30 billion. She is one of the 20 richest people in America.