Why Steve Jobs’ Children Didn’t Receive An Inheritance After His Death

Steve Jobs, Apple co-founder, transformed technology. He wore a black turtleneck, had a piercing stare.

He shaped culture with simple, perfect products. Jobs believed those crazy enough to change the world actually did.

He aimed to make his mark on the universe. He died in 2011, health issues in tabloids, shocking fans. Many learned of his death on devices he pioneered.

Despite his professional life, Jobs was a husband and father of four. His net worth at death was $10.2 billion.

He shrugged off wealth, saying, “Being the richest in the cemetery doesn’t matter to me.” Did he care if his kids inherited his immense wealth?

Why Steve Jobs children didn't receive an inheritance after his death
Image source (Canva)

Steve Jobs had four children

Steve Jobs, as detailed in his Biography, had a total of four children. In 1978, at the age of 23, his first daughter, Lisa Brennan-Jobs, was born to his girlfriend, Chrisann Brennan.

Initially denying paternity by asserting his infertility, Jobs’ claim was eventually disproven through a DNA test.

He then began providing financial support for his daughter, but it took several years before he established a meaningful relationship with her.

The remaining three children, Reed, Erin, and Eve Jobs, were born from Steve’s marriage to Laurene Powell-Jobs on March 18, 1991.

Why Steve Jobs' Children Didn't Receive An Inheritance After His Death
Image source (MSN)

While his relationship with these younger children was less tumultuous than with Lisa, Jobs struggled with fatherhood overall.

According to Walter Isaacson’s biography of Jobs, he formed a strong connection with Reed, but with his daughters, he often exhibited a more distant demeanor.

Jobs would occasionally focus on them, but just as frequently, he would completely disregard them when preoccupied with other matters.

The inheritance went to two people

The tycoon was diagnosed with pancreatic cancer in 2004. Five years later, he had a liver transplant operation, but it was too late and his health was too weak.

The tumor metastasized, and he couldn’t recover. October 5, 2011, marked the fateful day of his passing.

His work in technology amassed a fortune of $10.2 billion. This included $5.5 million in Apple shares and $138 million in Disney shares, as he owned 7% of the company.

Surprisingly, none of his three children received any inheritance. Only two individuals received inheritance after Steve Jobs’ death: his wife Laurene and Lisa Brennan.

Brennan, his first daughter from a previous relationship, only acknowledged him as her father after many years.

To compensate for the rejection and lack of support, the inheritance was directed solely to these two individuals.

Read more: Who can inherit if there is no will?

He didn’t believe in generational wealth

Steve Jobs didn't believe in generational wealth
Image source (Canva)

Upon succumbing to pancreatic cancer in 2011, Steve Jobs bequeathed a legacy comprising four children, his widow Laurene Powell-Jobs, and a substantial fortune that elevated her to the 35th position among the world’s wealthiest individuals by 2020.

However, the accumulation of wealth did not lead Laurene or her offspring down a path of extravagance.

In a 2020 interview with The New York Times, she articulated her belief that amassing an exorbitant fortune equivalent to the combined wealth of millions of others is inherently unjust.

She asserted, “There’s nothing fair about that.” Further expressing her stance, she declared, “I’m not interested in perpetuating a legacy of vast wealth, and my children are aware of that… Steve had no interest in such pursuits. If I live long enough, it concludes with me.”

Despite Steve Jobs’ reservations about generational wealth, he did not leave his children without provision.

As disclosed by his eldest daughter, Lisa Brennan-Jobs, in a 2018 interview with The New York Times, both she and her younger siblings inherited millions.



Leave a Comment