What Is Steve Jobs Net Worth? (2022 Updates)

A multi-faceted American businessman and media mogul who died on October 5, 2011, Steven Paul Jobs was most known for his work in industrial design and media moguls. As a member of the Walt Disney Company’s board following its acquisition of Pixar, he served as chairman and chief executive officer of NeXT, the company he co-founded with Steve Jobs in 1976.

Steve Wozniak, his early business partner and fellow Apple co-founder, is widely credited with pioneering the personal computer revolution in the 1970s and 1980s.

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Steve Jobs Early Life

Jobs was born in San Francisco on February 24, 1955. Abdulfattah Jandali and Joanne Schieble raised him. They adopted him. After leaving the Coast Guard, Paul Reinhold Jobs married Clara Hagopian in 1946. Armenian immigrants raised Clara in San Francisco.

What Is Steve Jobs Net Worth (2022 Updates) (1)
What Is Steve Jobs Net Worth (2022 Updates)

Paul serviced vehicles after leaving the Coast Guard. The couple considered adoption after Clara’s ectopic pregnancy. Paul and Clara adopted Patricia in 1957. The family migrated to California in 1959. Paul created a workstation to teach his kid about mechanics. Jobs was into engineering at age 10 and knew numerous local engineers.

Jobs lacked school skills. He fought authority, misbehaved, and was suspended often. He had trouble forming peers. He skipped fifth grade. He entered 6th grade at Mountain View’s Crittenden Middle School. Jobs was bullied and a loner in middle school. By seventh grade, he was weary of the bullying and offered his parents an ultimatum: move schools or he’d drop out. The Jobs family wasn’t wealthy, yet they used all their funds to buy a new house in 1967 so Steve could move schools.

The new Jobs house was in Cupertino School District. Bill Hewlett of Hewlett-Packard employed Jobs when he was 13 after cold-called him for supplies for an electronics project. Jobs attended Homestead High in 1968. Steve Wozniak introduced him to him. Jobs liked electronics and reading in high school. Wozniak and Chrisann Brennan, a junior, were his most excellent pals in high school.

Jobs visited Wozniak at Berkeley many times a week in 1971. Jobs was in high school and took freshman English at Stanford. Woz designed a “blue box” around this time, a cheap digital device that could manipulate the phone network to allow free long-distance calls. Jobs sold them and split the profits with Wozniak. Jobs decided a career in electronics might be rewarding and entertaining.

What Was Steve Jobs Net Worth and Salary?

At the time of his death in 2011, Steve Jobs net worth was $10.2 billion in the United States. Steve Jobs was best known as the co-founder and CEO of Apple Inc., a technological powerhouse. Pixar Animation Studios, which he helped sell to Disney, was also run by Jobs as its CEO. In 1978, when Jobs was barely 23 years old, Steve Jobs net worth was more than $1 million. Steve Jobs net worth was $250 million in December 1980, when Apple went public.

Most of Steve Jobs’ net wealth at the time of his death in 2011 was not derived from Apple shares. It was purchased from Disney. Why? How?

After a tense boardroom battle, Steve Jobs stepped down from his position at Apple in 1985. A few days later, he sold 99.999 percent of his former 20% ownership in the firm, earning him close to $100 million in the process. To continue getting yearly reports and attending shareholder meetings, he allegedly held onto one share of stock.

Following the acquisition of NeXT in 1996, Steve returned to Apple. After a year, he was promoted to CEO once more which acted as an increment to Steve Jobs net worth. Apple’s board enticed Steve back to the company with a large stock options package as part of this process. In the end, he ended up owning 5.5 million Apple shares. He had 38.5 million shares when the stock split 7-1 in 2014 (three years after his death).

In August 2020, when the stock split 4-1, that ownership grew to 154 million shares due to which Steve Jobs net worth also grew. 154 million shares are currently valued $20 billion at the time of this writing. Steve Jobs’ wife Laurene Powell Jobs receives $160 million in dividends per year from those shares.

Steve Jobs’ Apple stock was worth $2 billion at the time of his death in 2011. The value of his Disney holdings was little over $8 billion. When he sold Pixar in 2007, he received 138 million Disney shares as payment. As a result of the deal, he became Disney’s largest shareholder, which contributed a lot to Steve Jobs Net worth. Laurene sold a large portion of her stock in the company in 2017 for a total of $7 billion which also led to rise in Steve Jobs Net worth.

Apple

Wozniak finished the Apple I’s basic design in March 1976, and Jobs recommended they market it. After 10 days on an apple farm, Jobs offered the name. “Apple” was “fun, energetic, and not scary,” excellent for a new technology. Wozniak was intended to give his Apple 1 out for free, but Jobs recommended he sell it as a business product.

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Jobs, Wozniak, and Ronald Wayne started Apple Computer Company in Jobs’ parents’ house on April 1, 1976. Jobs’ business began in his bedroom and went to the garage. Wayne stayed briefly, leaving Jobs and Wozniak as active cofounders. Paul Terrell bought 50 completely constructed Apple Is for $500 apiece later that year. 200 Apple Is were made.

The Apple 1 was an instant hit, which led to the Apple II’s popularity. Apple made $175,000 in 1976. 1977 sales reached $2.7 million. 1980’s Apple IPO followed $117 million in sales. Apple employees became billionaires after the IPO.

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