Laurene Powell, the widow of Steve Jobs, is much more than the founder of Apple’s partner. Since Jobs’ death in 2011, Powell has significantly expanded the fortune left to her by her husband, along with their common investments, and has established herself as a prominent figure in the world of philanthropy, business, and technology.
To gauge her relevance, she is now rumored to be considering partnering with Sam Altman, CEO of OpenAI, and Jony Ive, former Apple design director, to work on a new artificial intelligence device that is said to redefine personal technology.
Specifically, Powell could be one of the largest investors in the initiative through her Emerson Collective fund, according to The Information, but little or nothing is currently known about this possible device.
The (obligatory to spend) inheritance Jobs entrusted to his wife
After Steve Jobs’ death, Laurene Powell inherited the Steven P. Jobs Trust, a fund that contained 7.3% of Walt Disney Company shares and more than 38 million Apple shares.
This made her one of the richest women in the world, with an estimated fortune of over $10 billion. With such a solid financial foundation, Powell has invested in various companies and properties, increasing her wealth while also engaging in philanthropy.
As mentioned, Powell is the founder and president of Emerson Collective, an impact investment firm focused on environmental justice, health, immigration, and education. This organization has donated billions of dollars to various philanthropic causes, reflecting Steve Jobs’ vision of directing his fortune towards humanitarian causes.
Powell’s commitment to philanthropy is notable. She founded College Track in 1997, an organization that helps disadvantaged students obtain a college education. Additionally, she founded the Waverley Street Foundation, pledging to donate $3.5 billion over a decade to combat climate change through innovative solutions.
Through Emerson Collective and other donor-advised funds from Goldman Sachs, Powell has made charitable donations totaling over $2 billion.
The underlying idea behind Powell’s fortune is to be used for philanthropy and innovation. “If I live long enough, that fortune will not survive me. It was Steve’s wish,” said Powell Jobs in an interview, emphasizing the former Apple CEO’s interest in having his fortune used for global causes.
In search of the alleged AI iPhone
Rumors that Powell could be considering partnering with Sam Altman and Jony Ive to work on a new artificial intelligence-driven device have been growing.
According to sources close to the project, this personal device will not resemble a smartphone and could revolutionize the world of personal technology.
Although the exact nature of the device has not been revealed, it is expected to be an innovative product that could challenge traditional smartphones. The personal connections between Powell, Altman, and Ive could be key to the success of this venture, as the initial investment cost is expected to be high due to the names involved.
Ive and Altman aim to raise at least $1 billion for the new company. It is said that Emerson Collective, the firm founded by Powell, is in negotiations to be one of the main investors. Additionally, other prominent figures like Masayoshi Son, CEO of SoftBank, have also shown interest in the project.
This new venture could also put Jony Ive in direct competition with Apple, his former employer. Apple is working on new artificial intelligence features for its devices, raising the question of how the company will react to a competitor that includes some of its former leaders and designers.
If the partnership with Sam Altman and Jony Ive materializes, the world of technology could be on the brink of witnessing a significant change in how we interact with artificial intelligence and personal devices.
