“Laurene Powell Jobs, previously Walt Disney ’s largest single shareholder, recently cut her beneficial stake in the company in half, to about 64 million shares, according to regulatory filings,” Ed Lin reports for Barron’s.
“Powell Jobs is founder and president of Emerson Collective, an organization that supports ‘social entrepreneurs,’ people who are improving education, reforming immigration reform and other issues,” Lin reports. “[Steve] Jobs died on Oct. 5, 2011, and on Nov. 22, 2011 — the 16th anniversary of the release of Toy Story — his Disney shares were transferred to a trust run by his widow, Laurene Powell Jobs.”
“According to a regulatory filing, as of July 2, 2014, the Disney holdings of the former Steven P. Jobs Trust had been transferred to five trusts. The bulk of the holdings, 128,566,602 Disney shares, were held by the Laurene Powell Jobs Trust, although she was the sole trustee of all five trusts, beneficially owning 130,181,925 Disney shares,” Lin reports. “The latest filing from Powell Jobs shows that as of Dec. 31, 2016, she has cut her beneficial stake down to 64,320,416 Disney shares, or a 4.0% stake.”
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MacDailyNews Take: There’s a tidy sum!