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Steve Jobs' wife to manage trust of $4.6 billion in Disney shares

post #1 of 51
Thread Starter 
Laurene Powell, the widow of Apple co-founder Steve Jobs, will manage a $4.6 billion trust containing the 138 million shares of the Walt Disney Co. that Jobs acquired when he sold Pixar in 2006.

In the wake of Jobs' death last month, speculation arose on what would be done with his estate, estimated to be worth $7 billion. Securities filings on Wednesday revealed that his Disney shares, which represented the majority of his wealth, have been placed in a trust.

The trust is Disney's largest shareholder with a 7.7 percent stake in the media conglomerate. Jobs originally acquired the shares in 2006 when he sold Pixar to the company for $7.4 billion. At the time, Jobs owned more than half of Pixar's stock.

Tax experts recently suggested that Jobs' family should sell off all of his Apple and Disney stock in order to avoid higher taxes later on and diversify the investment portfolio. According to a recent report from Bloomberg, the family could have saved $867 million in capital gains taxes.

"I can't see any reason not to sell all of it," Kacy Gott, chief planning officer at the wealth-management firm Aspiriant, told the publication. "They should have been looking to diversify years ago."

However, placing the shares into a trust is method for mitigating tax exposure on gains made from the shares, though it's not immediately clear what type of trust was set up in this case. According to Bloomberg, earlier proxy statements did show that Jobs was moving his assets into trusts toward the end of his life.

Some have speculated that Powell will use a portion of the trust's funds for philanthropic work. She has been an active participant in the non-profit sector and currently sits on the board of the Teach for America program.
post #2 of 51
Ah, the rich people. Always looking more ways to save money rather than paying taxes that could built schools etc. but then this is America, most of it (tax money) will go to their cronies at the congress and a large portion to pay for unwarranted wars.
post #3 of 51
I'm shocked, SHOCKED, that she didn't take the advice of "tax experts" or Bloomberg.
post #4 of 51
Quote:
Originally Posted by AppleInsider View Post

"I can't see any reason not to sell all of it," Kacy Gott, chief planning officer at the wealth-management firm Aspiriant, told the publication.

How about she wanted to be the largest shareholder of Disney (or any of a few dozen other reasons)?
post #5 of 51
She has a BA in Economics and her MBA from Stanford.

From her Wiki:

" Before business school, Jobs worked for Merrill Lynch Asset Management and spent three years at Goldman Sachs as a fixed-income trading strategist."

I'll she'll be managing that money just fine.
post #6 of 51
How about the millions in dividends it pays her every year? Jobs made close to 300 million in dividends from the Disney stock since he sold Pixar.

Quote:
Originally Posted by Chris_CA View Post

How about she wanted to be the largest shareholder of Disney (or any of a few dozen other reasons)?
post #7 of 51
Go to Vegas and put it all on red ;-)
post #8 of 51
Laurene is a very smart woman who has several altruistic projects she can better serve by being the largest shareholder in Disney and to continue Steve and Her legacy.
post #9 of 51
Quote:
Originally Posted by Splash-reverse View Post

Ah, the rich people. Always looking more ways to save money rather than paying taxes that could built schools etc. but then this is America, most of it (tax money) will go to their cronies at the congress and a large portion to pay for unwarranted wars.

Aww c'mon...lighten up! Surely, at least some of it will go to pay for warranted wars?!??!?
post #10 of 51
Quote:
Originally Posted by AppleInsider View Post

Tax experts recently suggested that Jobs' family should sell off all of his Apple and Disney stock in order to avoid higher taxes later on and diversify the investment portfolio. According to a recent report from Bloomberg, the family could have saved $867 million in capital gains taxes.

"I can't see any reason not to sell all of it," Kacy Gott, chief planning officer at the wealth-management firm Aspiriant, told the publication. "They should have been looking to diversify years ago."

These tax-planning people are such idiots. All they are interested in are the fees they can generate for themselves.
post #11 of 51
I know she is a Widow. But it just doesn't sound right to say Steve Jobs 's Widow. She is Steve Jobs's Wife. And She is a Widow.
post #12 of 51
Quote:
Originally Posted by Market_Player View Post

Go to Vegas and put it all on red ;-)

What a silly idea...


...put it on evens.
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Better than my Bose, better than my Skullcandy's, listening to Mozart through my LeBron James limited edition PowerBeats by Dre is almost as good as my Sennheisers.
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post #13 of 51
Its sad to have to deal with all that money. Maybe they have a billionaires support group. Hello my name is "insert your name". I suffer from too much money. I am so glad I am not a billionaire. I am so glad that I am poor. Money, boy is it over rated.
An Apple man since 1977
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post #14 of 51
Quote:
Originally Posted by Soundvision View Post

She has a BA in Economics and her MBA from Stanford.

From her Wiki:

" Before business school, Jobs worked for Merrill Lynch Asset Management and spent three years at Goldman Sachs as a fixed-income trading strategist."

I'll she'll be managing that money just fine.

Big +1 for that. Money managers just want a piece of that pie.
post #15 of 51
Quote:
Originally Posted by Splash-reverse View Post

Ah, the rich people. Always looking more ways to save money rather than paying taxes that could built schools etc. but then this is America, most of it (tax money) will go to their cronies at the congress and a large portion to pay for unwarranted wars.

Apparently you can't read all that well as Powell is involved in education. It is almost a certainty that she will be able to do more good with that money than the government ever could via taxing people.

As for those jerks in congress wouldn't you think the best thing to do is to keep this money out of their hands. It is only our passive acceptance of taxes that allows for the corrupt government we now have.
post #16 of 51
Or they can just mind their own businesses. She's a very intelligent woman.
post #17 of 51
Quote:
Originally Posted by mdriftmeyer View Post

Laurene is a very smart woman who has several altruistic projects she can better serve by being the largest shareholder in Disney and to continue Steve and Her legacy.

Yeah, according to Walter Isaacson, Laureen Powell is one of the smartest and most grounded people he have ever met.
Maybe she wants to keep it because there's a high chance that we can see Reed Paul Jobs in the future.

Quote:
Steve Jobs Let His Son Sit In Closed Door Meetings As Apple Grappled With The Antennagate Fiasco

During the whole iPhone 4 "Antennagate" crisis of summer 2010, Steve Jobs and other high level executives spent two straight days hammering out a PR strategy.

But the most interesting detail of those strategy sessions was that Jobs decided to bring his son Reed, then a high school senior, to sit in.

The family was on vacation in Hawaii when reports of the iPhone 4 antenna problems rolled in, prompting Jobs to cut his trip short so he could deal with the crisis.

According to Walter Isaacson's biography, Jobs told Reed:

“I’m going to be in meetings 24/7 for probably two days and I want you to be in every single one because you’ll learn more in those two days than you would in two years at business school,” he told him. “You’re going to be in the room with the best people in the world making really tough decisions and get to see how the sausage is made.”



post #18 of 51
You think I can seduce her and get involved in some scandal?

I'm gon' be on TMZ ya'll.
post #19 of 51
Fortunately she will never read the whining in this blog.

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post #20 of 51
Quote:
Originally Posted by Splash-reverse View Post

Ah, the rich people. Always looking more ways to save money rather than paying taxes that could built schools etc. but then this is America, most of it (tax money) will go to their cronies at the congress and a large portion to pay for unwarranted wars.

Gotta love the whiners who always know what others should do since they don't, can't or won't do it themselves.

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post #21 of 51
.

This Story made my Heart Soar Like the Eagle

Of all the ink spilled about Steve's passing

Very little included the Disney connection

And as WE know here

Whole is greater than sum ... etc

.

Glad to hear his Wife

Recognizes that connection

And wants to stay connected

Wise Lady

But ...

She did marry Steve, yea ?



.
post #22 of 51
Redacted because it's thanksgiving and Realistic said it better...
post #23 of 51
So is she going to be criticized for being part of the 1%, or will she get a pass because she's a liberal?
post #24 of 51
Quote:
Originally Posted by hill60 View Post

What a silly idea...


...put it on evens.

"Do you play roulette? Always bet on black"



Quote:
Originally Posted by ArchAngel21x View Post

So is she going to be criticized for being part of the 1%, or will she get a pass because she's a liberal?

I don't hear anyone bitch at Warren Buffet about being part of the 1% and he clearly makes tons of money. Steve never signed the promise to give away vast sums of money, but maybe Laurene has that in mind. We don't know. Honestly tho, her husband earned his money from creating and building companies and making smart decisions. She was married to him for 20 years, so you know she's been there through a huge chunk of it. I give her a pass b/c I haven't seen a reason to do otherwise. What has she done w/her money over the years? Created a charitable organization, made sure her kids went to the schools they wanted and they had a fulfilling life. They didn't spend it on 60,000+ sq ft homes or stuff it all away in cayman bank accounts. Their money was largely in stock in US corporations. What she chooses to do w/the stock left to her when Steve died is her business and given her degree and business experience, that shouldn't be a problem for her.
post #25 of 51
Quote:
Originally Posted by ArchAngel21x View Post

So is she going to be criticized for being part of the 1%, or will she get a pass because she's a liberal?

Oh, she's got a free pass for LIFE from us liberals. She could be smoking cigars made by 6-year old Cuban children dipped in baby Arctic fur seal oil and we'd still worship the Jobs dynasty. Heil!
post #26 of 51
Quote:
Originally Posted by ksec View Post

I know she is a Widow. But it just doesn't sound right to say Steve Jobs 's Widow. She is Steve Jobs's Wife. And She is a Widow.

Thanks for changing the title.
post #27 of 51
She's the best person to manage her money rather than any government or advisor.
post #28 of 51
Quote:
Originally Posted by Splash-reverse View Post

Ah, the rich people. Always looking more ways to save money rather than paying taxes that could built schools etc. but then this is America, most of it (tax money) will go to their cronies at the congress and a large portion to pay for unwarranted wars.

Ah, the armchair quarterbacks who are jealous of rich people, always making assumptions and assertions they know nothing about that make them look like fools and ignoramuses....
post #29 of 51
Quote:
Originally Posted by slapppy View Post

Or they can just mind their own businesses. She's a very intelligent woman.

can't fathom how the steve would ever have been satisfied with any woman who wasn't smart enough to fascinate and challenge him. May she accomplish every endeavor she undertakes...
post #30 of 51
Quote:
Originally Posted by makingdots View Post

Yeah, according to Walter Isaacson, Laureen Powell is one of the smartest and most grounded people he have ever met.
Maybe she wants to keep it because there's a high chance that we can see Reed Paul Jobs in the future.
[/I]

I wish you hadn't said that. it starts one to thinking how cool it would be to have a real-life sort of Tony Stark rise up....and would it not be utterly amazing to see the kid follow those footsteps? Lets hope he has similar talents....
post #31 of 51
Quote:
Originally Posted by nvidia2008 View Post

Oh, she's got a free pass for LIFE from us liberals. She could be smoking cigars made by 6-year old Cuban children dipped in baby Arctic fur seal oil and we'd still worship the Jobs dynasty. Heil!

that goes double for us conservatives. ESPECIALLY the baby seal fur oil....

post #32 of 51
Quote:
Originally Posted by Splash-reverse View Post

Ah, the rich people. Always looking more ways to save money rather than paying taxes that could built schools etc. but then this is America, most of it (tax money) will go to their cronies at the congress and a large portion to pay for unwarranted wars.

How clueless can you possibly be?
post #33 of 51
I'd rather remove my comment.

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post #34 of 51
If I was Mrs Jobs I would start giving the money to charity.

That loud noise is Steve spinning in his grave......

 

 

 

 

 

 

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post #35 of 51
Quote:
Originally Posted by echosonic View Post

Ah,.... always making assumptions and assertions they know nothing about that make them look like fools and ignoramuses....

right back at ya.
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post #36 of 51
OBSCENE.
80% of the world population is dying of hunger.
20% of the world has 80% of the wealth.
OBSCENE.

Why not do what Bill Gates and others did?
post #37 of 51
The greatest philanthropic work would be to destroy Microsoft. I have personally seen Windows destroy many, many hundred of thousands of scientific hours of work. We would have flying cars, clean energy and cure to cancer if Windows did not exist.
post #38 of 51
Quote:
Originally Posted by morgajx View Post

If I was Mrs Jobs I would start giving the money to charity.

That loud noise is Steve spinning in his grave......

If you'd put a long copper wire around him, your comments would generate electricity and solve the energy crisis

Social Capitalist, dreamer and wise enough to know I'm never going to grow up anyway... so not trying anymore.

 

http://m.ign.com/articles/2014/07/16/7-high-school-girls-are-kickstarting-their-awa...

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Social Capitalist, dreamer and wise enough to know I'm never going to grow up anyway... so not trying anymore.

 

http://m.ign.com/articles/2014/07/16/7-high-school-girls-are-kickstarting-their-awa...

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post #39 of 51
Quote:
Originally Posted by zunx View Post

OBSCENE.
80% of the world population is dying of hunger.
20% of the world has 80% of the wealth.
OBSCENE.

Why not do what Bill Gates and others did?

I am not known for being pro-capital, but this is just SO off.
The Jobs family enjoys extreme capital, because Steve worked himself to death making products that rendered the world better. I cannot see any reason why they should not enjoy it, and use it as they see fit, rather than give it out to a charity so that the "manager" of that charity, or worse the managers of the hedge funds for that charity, may have a bigger yacht/car.


The only reason for avoiding big concentrations of capital is clueless people (read Steve Ballmer) using their inherited money and political clout coming from being sired in a wealthy family to stay rich. Steve's son still can prove himself to be worthy of his father, and his wife has already proven to be much worthier than you, sir, whoever you may be.

Social Capitalist, dreamer and wise enough to know I'm never going to grow up anyway... so not trying anymore.

 

http://m.ign.com/articles/2014/07/16/7-high-school-girls-are-kickstarting-their-awa...

Reply

Social Capitalist, dreamer and wise enough to know I'm never going to grow up anyway... so not trying anymore.

 

http://m.ign.com/articles/2014/07/16/7-high-school-girls-are-kickstarting-their-awa...

Reply
post #40 of 51
Someone wants her to sell, cause they want to be the largest shareholder of these companies. She should keep them
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