Steve Jobs Family, Biography, Career, and Net Worth
Steve Jobs Family – Steve Jobs and Laurene Powell married on March 18, 1991. The pair met in the early 1990s at Stanford business school, where Powell was an MBA student. They lived together in Palo Alto, California, with their three children.
Although he remained a private man who rarely disclosed information about his family, it is known that Jobs fathered a daughter, Lisa, with girlfriend Chrisann Brennan when he was 23. He denied paternity of his daughter in court documents, claiming he was sterile.
Chrisann struggled financially for much of her life, and Jobs did not initiate a relationship with his daughter until she was seven years old. When she was a teenager, Lisa came to live with her father.
Powell, the wife of Steve Jobs; they married in the early 1990s. She was born on 6th November 1963 in New Jersey. Laurene Powell was an MBA graduate at Stanford business school. She earned B.Sc in Economics from the Wharton School and a B.A from the University of Pennsylvania. Powell is an American business executive and founder of the Emerson Collective. Powell controls and runs the Steven P Jobs Trust.
Steve Jobs was born February 24, 1955, in San Francisco, California, and was adopted by Paul and Clara Jobs. He grew up with one sister, Patty. Paul Jobs was a machinist and fixed cars as a hobby. Jobs remembers his father as being very skilled at working with his hands.
In 1961 the family moved to Mountain View, California. This area, just south of Palo Alto, California, was becoming a center for electronics. Electronics form the basic elements of devices such as radios, televisions, stereos, and computers. At that time people started to refer to the area as “Silicon Valley.” This is because a substance called silicon is used in the manufacturing of electronic parts.
As a child, Jobs preferred doing things by himself. He swam competitively but was not interested in team sports or other group activities. He showed an early interest in electronics and gadgetry. He spent a lot of time working in the garage workshop of a neighbor who worked at Hewlett-Packard, an electronics manufacturer.
Jobs also enrolled in the Hewlett-Packard Explorer Club. There he saw engineers demonstrate new products, and he saw his first computer at the age of twelve. He was very impressed and knew right away that he wanted to work with computers.
While Jobs was always an intelligent and innovative thinker, his youth was riddled with frustrations over formal schooling. Jobs was a prankster in elementary school due to boredom, and his fourth-grade teacher needed to bribe him to study. Jobs tested so well, however, that administrators wanted to skip him ahead to high school — a proposal that his parents declined.
After high school, Jobs enrolled at Reed College in Portland, Oregon. Lacking direction, he dropped out of college after six months and spent the next 18 months dropping in on creative classes at the school. Jobs later recounted how one course in calligraphy developed his love of typography.
In 1974, Jobs took a position as a video game designer with Atari. Several months later he left the company to find spiritual enlightenment in India, traveling further and experimenting with psychedelic drugs.
Back when Jobs was enrolled at Homestead High School, he was introduced to his future partner and co-founder of Apple Computer, Steve Wozniak, who was attending the University of California, Berkeley.
In a 2007 interview with PC World, Wozniak spoke about why he and Jobs clicked so well: “We both loved electronics and the way we used to hook up digital chips,” Wozniak said. “Very few people, especially back then, had any idea what chips were, how they worked and what they could do.
I had designed many computers, so I was way ahead of him in electronics and computer design, but we still had common interests. We both had pretty much sort of an independent attitude about things in the world.”
In 1976, when Jobs was just 21, he and Steve Wozniak started Apple Computer in the Jobs’ family garage. They funded their entrepreneurial venture by Jobs selling his Volkswagen bus and Wozniak selling his beloved scientific calculator.
Jobs and Wozniak are credited with revolutionizing the computer industry with Apple by democratizing the technology and making machines smaller, cheaper, intuitive and accessible to everyday consumers.
Wozniak conceived of a series of user-friendly personal computers, and — with Jobs in charge of marketing — Apple initially marketed the computers for $666.66 each. The Apple I earned the corporation around $774,000. Three years after the release of Apple’s second model, the Apple II, the company’s sales increased by 700 percent to $139 million.
In 1980, Apple Computer became a publicly traded company, with a market value of $1.2 billion by the end of its very first day of trading. Jobs looked to marketing expert John Sculley of Pepsi-Cola to take over the role of CEO for Apple.
The next several products from Apple suffered significant design flaws, however, resulting in recalls and consumer disappointment. IBM suddenly surpassed Apple in sales, and Apple had to compete with an IBM/PC-dominated business world.
In 1984, Apple released the Macintosh, marketing the computer as a piece of a counterculture lifestyle: romantic, youthful, creative. But despite positive sales and performance superior to IBM’s PCs, the Macintosh was still not IBM-compatible. Sculley believed Jobs was hurting Apple, and the company’s executives began to phase him out. Not actually having had an official title with the company he co-founded, Jobs was pushed into a more marginalized position and thus left Apple in 1985.
In 1986, Jobs purchased an animation company from George Lucas, which later became Pixar Animation Studios. Believing in Pixar’s potential, Jobs initially invested $50 million of his own money in the company. The studio went on to produce wildly popular movies such as Toy Story, Finding Nemo and The Incredibles; Pixar’s films have collectively netted $4 billion. The studio merged with Walt Disney in 2006, making Steve Jobs Disney’s largest shareholder.
After leaving Apple in 1985, Jobs began a new hardware and software enterprise called NeXT, Inc. The company floundered in its attempts to sell its specialized operating system to mainstream America, and Apple eventually bought the company in 1996 for $429 million. In 1997, Jobs returned to his post as Apple’s CEO. Just as Jobs instigated Apple’s success in the 1970s, he is credited with revitalizing the company in the 1990s.
With a new management team, altered stock options and a self-imposed annual salary of $1 a year, Jobs put Apple back on track. Jobs’ ingenious products (like the iMac), effective branding campaigns and stylish designs caught the attention of consumers once again. In the ensuing years, Apple introduced such revolutionary products as the Macbook Air, iPod and iPhone, all of which dictated the evolution of technology. Almost immediately after Apple released a new product, competitors scrambled to produce comparable technologies.
Apple’s quarterly reports improved significantly in 2007: Stocks were worth $199.99 a share—a record-breaking number at that time — and the company boasted a staggering $1.58 billion profit, an $18 billion surplus in the bank and zero debt. In 2008, Apple became the second-biggest music retailer in America — second only to Walmart, fueled by iTunes and iPod sales. Apple has also been ranked No. 1 on Fortune magazine’s list of “America’s Most Admired Companies,” as well as No. 1 among Fortune 500 companies for returns to shareholders.
Before his death in the year 2010, Jobs’ net worth was estimated to be 5.5 million dollars by the Forbes 2010 magazine. He was rated as the 136th richest man in the world. After his death, his widowed wife Powell continued the legacy. Powell and family have been rated as #27 richest people on the Forbes list of billionaires, the real net worth being $16.1 Billion.