Laurene Powell Jobs, widow of the late Apple founder Steve Jobs, is purchasing a 20% stake in Monumental Sports — owner of the Washington Wizards NBA team and Washington Capitals of the NHL.
According to CNBC and Washington Post, Jobs’ stake is valued at $500 million.
Laurene is one of the wealthiest women in America with a net worth of nearly $20 billion from stock holdings in Apple and Disney. Steve Jobs was founder and CEO of Pixar Entertainment when it was purchased by Disney for $7.4 billion in stock in 2006, making him Disney’s largest private shareholder.
According to The Washington Post, Laurene Powell’s two brothers are longtime friends and college classmates of Monumental Sports’ Vice Chairman Raul Fernandez.
Laurene is currently President of Emerson Collective, a philanthropic organization.