Steve Jobs Net Worth At Death – How Did He Get Rich? Exposed!

Steve Jobs Net Worth At Death

Steve Jobs had an estimated net worth of $10.2 Billion at death. He co-founded Apple Computers with Steve Wozniak. Under Jobs’ guidance, the company pioneered a series of revolutionary technologies, including the iPhone and iPad. He earned the majority of his income from Apple.

Steven Paul Jobs was an American inventor, designer, and entrepreneur who co-founded, served as CEO, and was the chairman of Apple Computer. Apple’s groundbreaking products, such as the iPod, iPhone, and iPad, are now viewed as dictating the evolution of modern technology.

Jobs, who was born in 1955 to two University of Wisconsin graduate students who gave him up for adoption, was bright but aimless, dropping out of college and dabbling in various fields before co-founding Apple with Steve Wozniak in 1976. Jobs left Apple in 1985 to found Pixar Animation Studios, then returned to the company more than a decade later. Jobs passed away in 2011 after a long battle with pancreatic cancer.

To calculate the net worth of Steve Jobs, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Steve Jobs
Net Worth: $10.2 Billion
Monthly Salary: $40 Million+
Annual Income: $500 Million+
Source of Wealth: Entrepreneur, Inventor, Designer

Steve Jobs’ Parents and Adoption

Jobs was born to two University of Wisconsin graduate students, Joanne Schieble (later Joanne Simpson) and Abdulfattah “John” Jandali. The couple placed their unidentified son for adoption.

Jandali Jobs, Jobs’ father, was a Syrian political science professor. Schieble, his mother, was a speech therapist. Jobs’ biological parents married and had another child, Mona Simpson, shortly after he was placed for adoption. Jobs did not discover information about his biological parents until he was 27 years old.

Jobs was named Steven Paul Jobs as an infant by Clara and Paul Jobs. Clara was a bookkeeper, and Paul was a Coast Guard veteran and machinist.

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Early Life

Jobs was born in San Francisco, California, on February 24, 1955. He lived in Mountain View, California, with his adoptive family, in the area that would later be known as Silicon Valley.

Jobs and his father worked on electronics in the family garage when he was a child. Paul taught his son how to disassemble and rebuild electronics, a hobby that instilled in him confidence, tenacity, and mechanical prowess.

Steve Jobs’ Education and College

While Jobs was always an intelligent and innovative thinker, his childhood was marred by frustrations with formal education. Jobs was a prankster in elementary school because he was bored, and his fourth-grade teacher had to bribe him to get him to study. Jobs tested so well, however, that administrators wanted to skip him to high school, which his parents refused.

Jobs attended Reed College in Portland, Oregon after graduating from high school. He dropped out of college after six months due to a lack of direction and spent the next 18 months taking creative classes at the school. Jobs later recalled how a calligraphy class sparked his interest in typography.

Jobs began working as a video game designer for Atari in 1974. He left the company several months later to seek spiritual enlightenment in India, traveling further and experimenting with psychedelic drugs.

Steve Wozniak and Steve Jobs

When Jobs was in high school, he met Wozniak, his future partner and co-founder of Apple Computer, who was attending the University of California, Berkeley.

Wozniak explained why he and Jobs got along so well in a 2007 interview with PC World: “We both loved electronics and the way we used to hook up digital chips.” “At the time, very few people knew what chips were, how they worked, and what they could do.” I’d designed a lot of computers, so I was way ahead of him in electronics and computer design, but we still shared interests. We both had a pretty independent attitude toward things in the world.”

Founding and Leaving Apple Computer

Jobs and Wozniak founded Apple Computer in the Jobs family garage in 1976, when he was only 21 years old. Jobs sold his Volkswagen bus, and Wozniak sold his beloved scientific calculator to fund their entrepreneurial venture. Jobs and Wozniak are credited with democratizing technology and making machines smaller, cheaper, more intuitive, and accessible to everyday consumers with Apple.

Wozniak envisioned a line of user-friendly personal computers, and with Jobs in charge of marketing, Apple initially sold them for $666.66 each. The Apple I earned the company approximately $774,000. Apple’s sales increased by 700% to $139 million three years after the release of its second model, the Apple II.

Apple Computer became a publicly traded company in 1980, with a market value of $1.2 billion by the end of its first trading day. Jobs looked to Pepsi-Cola marketing expert John Sculley to take over as Apple’s CEO.

However, Apple’s subsequent products suffered from significant design flaws, resulting in recalls and consumer disappointment. IBM unexpectedly surpassed Apple in sales, forcing Apple to compete in an IBM/PC-dominated business world.

Apple released the Macintosh computer in 1984, marketing it as part of a counterculture lifestyle: romantic, youthful, and creative. Despite strong sales and performance that outperformed IBM’s PCs, the Macintosh was not IBM-compatible.

Jobs, according to Sculley, was hurting Apple, and the company’s executives began to phase him out. Jobs was pushed into a more marginalized position as a result of not having an official title with the company he co-founded, and he left Apple in 1985.

NeXT

After leaving Apple in 1985, Jobs founded NeXT, Inc., a new hardware and software company. The company struggled to sell its specialized operating system to mainstream America, and Apple eventually purchased it in 1996 for $429 million.

Reinventing Apple

Jobs returned to the helm of Apple in 1997. Jobs is credited with revitalizing Apple in the 1990s, just as he was responsible for the company’s success in the 1970s.

Jobs put Apple back on track with a new management team, revised stock options, and a self-imposed annual salary of $1. Jobs’ innovative products (such as the iMac), effective branding campaigns, and stylish designs drew consumers’ attention once more.

In the years since, Apple has released revolutionary products such as the Macbook Air, iPod, and iPhone, all of which have influenced the evolution of technology. Competitors scrambled to produce comparable technologies almost immediately after Apple released a new product.

In 2007, Apple’s quarterly reports improved significantly: stocks were worth $199.99 per share, a record at the time, and the company boasted a staggering $1.58 billion profit, a $18 billion bank surplus, and zero debt.

Apple overtook Walmart as the second-largest music retailer in America in 2008, thanks to iTunes and iPod sales. Apple has also been named the No. 1 company in Fortune magazine’s list of “America’s Most Admired Companies,” as well as the No. 1 company in Fortune 500 for shareholder returns.

Steve Jobs and Pixar

Jobs bought an animation company from George Lucas in 1986, which later became Pixar Animation Studios. Jobs initially invested $50 million of his own money in Pixar because he believed in the company’s potential.

Pixar went on to produce wildly popular films such as Toy Story, Finding Nemo, and The Incredibles, grossing a total of $4 billion. In 2006, the studio merged with Walt Disney, making Jobs the company’s largest shareholder.

In 2011, Forbes estimated Jobs’ net worth to be between $6.5 billion and $7 billion as a result of his 2006 sale of Pixar to the Walt Disney Company. However, if Jobs had not sold his Apple stock when he left the company he founded and led for over a decade in 1985, his net worth would have been a staggering $36 billion.

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Wife and Children

Jobs married Laurene Powell on March 18, 1991. Powell was an MBA student at Stanford Business School when the two met in the early 1990s. They were married in Palo Alto, California, and had three children: Reed, Erin, and Eve.

Jobs had a daughter, Lisa, with girlfriend Chrisann Brennan in 1978, when he was 23 years old. In court documents, he denied paternity of his daughter, claiming he was sterile.

Lisa Brennan Jobs later wrote about her childhood and relationship with Jobs in her 2018 book Small Fry. According to Lisa, DNA tests revealed that she and Jobs were a match in 1980, and he was ordered to begin making paternity payments to her financially strained mother. Jobs did not start dating his daughter until she was seven years old. Lisa moved in with her father when she was a teenager.

Battle with Cancer

Jobs was diagnosed with a neuroendocrine tumor, a rare but treatable form of pancreatic cancer, in 2003. Instead of immediately undergoing surgery, Jobs decided to modify his pesco-vegetarian diet while considering Eastern treatment options.

Jobs delayed surgery for nine months, causing concern among Apple’s board of directors. Executives were concerned that if word got out that their CEO was ill, shareholders would withdraw their stock. However, Jobs’ confidentiality won out over shareholder disclosure in the end.

Jobs underwent successful surgery to remove a pancreatic tumor in 2004. Jobs, true to form, revealed little about his health in the years that followed.

Early in 2009, reports circulated about Jobs’ weight loss, with some predicting that his health issues, which included a liver transplant, had returned. Jobs responded to these concerns by claiming to be suffering from a hormonal imbalance. He took a six-month leave of absence a few days later.

Jobs told employees in an email that his “health-related issues are more complex” than he thought, then named Tim Cook, Apple’s chief operating officer, as “responsible for Apple’s day-to-day operations.”

On September 9, 2009, after nearly a year out of the spotlight, Jobs delivered a keynote address at an invite-only Apple event. Throughout much of 2010, he served as master of ceremonies, including the unveiling of the iPad.

Jobs announced his intention to take medical leave in January 2011. He stepped down as CEO of Apple in August, handing over the reins to Cook.

Steve Jobs’ Death and Last Words

Jobs died on October 5, 2011, in Palo Alto, California, after a nearly decade-long battle with pancreatic cancer. He was 56 years old at the time.

In a eulogy for Jobs, his sister Patty Simpson wrote that just before dying, Jobs looked for a long time at his sister, Patty, then at his wife and children, then past them, and said his final words: “OH WOW.” OH WOW. OH WOW.”

Movies

Jobs’ life was the subject of two films: Jobs (2013), starring Ashton Kutcher as Jobs, and Steve Jobs (2015), starring Michael Fassbender as the Apple co-founder.

Favorite Steve Jobs Quotes

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.”

 

“I’ve always been attracted to the more revolutionary changes. I don’t know why. Because they’re harder. They’re much more stressful emotionally. And you usually go through a period where everybody tells you that you’ve completely failed.”

 

“Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.”

 

“My model for business is The Beatles: They were four guys that kept each others’ negative tendencies in check; they balanced each other. And the total was greater than the sum of the parts.”

 

“Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations.”

 

“Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.”

 

“Getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again. It freed me to enter one of the most creative periods of my life.”

View our larger collection of Steve Jobs quotes.

Further Reading

Related Lists of Celebrities’ Net Worth

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How To Become Rich Like Steve Jobs?

Steve Jobs did not become rich by luck. To become as rich as Steve Jobs, you have to work smart.

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Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.

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You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.

If you seize this golden opportunity in time, you can become as successful as Steve Jobs one day.

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