Laurene Powell Jobs buys 20% stake in company that owns Washington Wizards & Capitals

Posted:
in General Discussion
Billionaire philanthropist Laurene Powell Jobs, who is still a significant stakeholder in both Apple and Disney, will enter into the professional sports business, taking a 20 percent share of the company that owns Washington D.C.'s Wizards basketball team and Capitals hockey team.




An entrepreneur and president of the Emerson Collective, Powell Jobs has taken a significant stake in Monumental Sports & Entertainment. Powell Jobs will reportedly invest hundreds of millions of dollars in the pending deal, which was confirmed to The Washington Post.

"The process is underway and is pending league approvals," the company said, citing acceptance from the National Basketball League, the National Hockey League and others.

Powell Jobs is the widow of Apple cofounder Steve Jobs. At 53 years old, she is one of the wealthiest women in the world, with an estimated worth of $20 billion.

In addition to being a major shareholder in Apple, she also holds a powerful stake in Disney.

Monumental Sports & Entertainment also owns the Washington Mystics of the Women's National Basketball Association. The company was founded by chairman, majority owner and Chief Executive Ted Leonsis.

Powell Jobs has been active in recent months with her fortune, as the Emerson Collective that she heads also bought a majority stake in The Atlantic in July. She has also taken a more public role on philanthropic efforts, including her stance hot button issues like immigration and education.

Comments

  • Reply 1 of 19
    Go DC!
  • Reply 2 of 19
    Seems like an odd choice, unless she's a big sports fan (which of course is possible).  I don't expect to see her court side screaming across the floor from Steve Ballmer (Clippers) or Mark Cuban (Mavs).
    SpamSandwich
  • Reply 3 of 19
    As far as I remember for a not too old report, Laurene'a boyfriend was a previous Major of Washington, DC. But I do not follow this type of news.
  • Reply 4 of 19
    williamhwilliamh Posts: 611member
    lmasanti said:
    As far as I remember for a not too old report, Laurene'a boyfriend was a previous Major of Washington, DC. But I do not follow this type of news.
    That’s true.  Sleep with dogs, wake up with fleas. She’s no Steve. 
    SpamSandwich
  • Reply 5 of 19
    maestro64maestro64 Posts: 4,274member
    This is how she spend Steve money, wonder if she still have his ship.
  • Reply 6 of 19
    williamh said:
    lmasanti said:
    As far as I remember for a not too old report, Laurene'a boyfriend was a previous Major of Washington, DC. But I do not follow this type of news.
    That’s true.  Sleep with dogs, wake up with fleas. She’s no Steve. 
    What dogs and what fleas? I know that’s an analogy but what do you mean by it here? And in what way and why would you expect her to be like Jobs? A product designer?
    iqatedoargonautGeorgeBMac
  • Reply 7 of 19
    So much money. Got to spend it on something I guess. I would buy a race horse. They poop during the national anthem and nobody cares. 
    iqatedoargonaut
  • Reply 8 of 19
    tshapitshapi Posts: 286member
    She doesn’t need to be a sports fan to recognize a good opportunity. 
    GeorgeBMac
  • Reply 9 of 19
    jSnivelyjSnively Posts: 324administrator
    williamh said:
    lmasanti said:
    As far as I remember for a not too old report, Laurene'a boyfriend was a previous Major of Washington, DC. But I do not follow this type of news.
    That’s true.  Sleep with dogs, wake up with fleas. She’s no Steve. 
    What dogs and what fleas? I know that’s an analogy but what do you mean by it here? And in what way and why would you expect her to be like Jobs? A product designer?
    This. Do enlighten us.
    iqatedoargonaut
  • Reply 10 of 19
    williamh said:
    lmasanti said:
    As far as I remember for a not too old report, Laurene'a boyfriend was a previous Major of Washington, DC. But I do not follow this type of news.
    That’s true.  Sleep with dogs, wake up with fleas. She’s no Steve. 
    What a stupidly moronic, useless comment. Like you know know a great deal about Steve, Laurene, Wizards, or Capitals.

    Go away. Thanks. 
    iqatedoSpamSandwichargonaut
  • Reply 11 of 19
    iqatedoiqatedo Posts: 1,579member
    Bill Gates and Steve Jobs had the good fortune both it seems, to have married smart women, to the point that Melinda Gates is the news maker in that household now. :-)
  • Reply 12 of 19
    mdriftmeyermdriftmeyer Posts: 7,142member
    Seems like an odd choice, unless she's a big sports fan (which of course is possible).  I don't expect to see her court side screaming across the floor from Steve Ballmer (Clippers) or Mark Cuban (Mavs).
    You got half of the sports associated. MLB and NHL. By the way, a lot of friends of Steve are huge NHL fans. She's from Pittsburgh/PA area so I'd bet she grew up heavy on sports.
    randominternetperson
  • Reply 13 of 19
    mdriftmeyermdriftmeyer Posts: 7,142member
    williamh said:
    lmasanti said:
    As far as I remember for a not too old report, Laurene'a boyfriend was a previous Major of Washington, DC. But I do not follow this type of news.
    That’s true.  Sleep with dogs, wake up with fleas. She’s no Steve. 
    Since I worked for him twice at NeXT and Apple and met Laurene personally I can simply say you don't know your head from your ass. Steve married up.
    iqatedoanantksundaramelectrosoftStrangeDaysjibberjargonautmacxpress
  • Reply 14 of 19
    Seems like an odd choice, unless she's a big sports fan (which of course is possible).  I don't expect to see her court side screaming across the floor from Steve Ballmer (Clippers) or Mark Cuban (Mavs).

    If I remember correctly, she was also bidding for the Clippers before Ballmer bought them. So it looks like she does invest in sports teams.
    randominternetpersonargonaut
  • Reply 15 of 19
    Seems like an odd choice, unless she's a big sports fan (which of course is possible).  I don't expect to see her court side screaming across the floor from Steve Ballmer (Clippers) or Mark Cuban (Mavs).

    If I remember correctly, she was also bidding for the Clippers before Ballmer bought them. So it looks like she does invest in sports teams.
    Fair enough.  My gender stereotypes are showing.  Can you name another female sports owner?
  • Reply 16 of 19
    SpamSandwichSpamSandwich Posts: 29,906member
    Seems like an odd choice, unless she's a big sports fan (which of course is possible).  I don't expect to see her court side screaming across the floor from Steve Ballmer (Clippers) or Mark Cuban (Mavs).

    If I remember correctly, she was also bidding for the Clippers before Ballmer bought them. So it looks like she does invest in sports teams.
    Fair enough.  My gender stereotypes are showing.  Can you name another female sports owner?
    https://en.m.wikipedia.org/wiki/List_of_NFL_franchise_owners
    edited October 2017 anantksundaramargonaut
  • Reply 17 of 19
    GeorgeBMacGeorgeBMac Posts: 2,900member
    So much money. Got to spend it on something I guess. I would buy a race horse. They poop during the national anthem and nobody cares. 
    Yes, some squander their wealth buying bobbles -- like sports teams.
    But this appears to be an investment -- one that any investor might make -- especially in today's world of low interest rates combined with a sky high stock market.

    It's why so many corporations are swimming in cash:  opportunities to invest it wisely are limited.  It says a lot about the U.S. economy that the wisest investment is not into industry but into entertainment.
  • Reply 18 of 19
    macxpressmacxpress Posts: 4,580member
    Seems like an odd choice, unless she's a big sports fan (which of course is possible).  I don't expect to see her court side screaming across the floor from Steve Ballmer (Clippers) or Mark Cuban (Mavs).

    If I remember correctly, she was also bidding for the Clippers before Ballmer bought them. So it looks like she does invest in sports teams.
    Fair enough.  My gender stereotypes are showing.  Can you name another female sports owner?
    Kelly Earnhardt Miller (Sister of Dale Earnhardt Jr) is co-owner of JR Motorsports in the NASCAR XFinity Series.
Sign In or Register to comment.