Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, has a brand new title: professional sports activities proprietor.

Billionaire philanthropist and journal proprietor Laurene Powell Jobs is including professional sports activities proprietor to her checklist of jobs. 

Emerson Collective

Powell Jobs is buying a 20 % stake in Monumental Sports activities & Leisure, the Washington, DC-based group that owns  the NBA’s Washington Wizards, the NHL’s Washington Capitals and the WNBA’s Washington Mystics, in addition to the Capital One Area. The acquisition was revealed Tuesday. 

One of many world’s richest ladies, value an estimated $20 billion, the 53-year-old Powell Jobs is a philanthropist, entrepreneur and president of the Emerson Collective, whose mission contains “eradicating limitations to alternative so individuals can stay to their full potential.”

“We have now an settlement with Laurene Powell Jobs, founder and president of Emerson Collective, to affix the Monumental Sports activities & Leisure possession group,” Monumental mentioned in an emailed assertion. “The method is underway and is pending league approvals.”

Phrases of the deal weren’t disclosed. An Emerson spokeswoman declined to remark.

Powell Jobs will be a part of the ranks of tech trade luminaries who personal sports activities franchises. Others embody enterprise capitalist Joe Lacob, co-owner of NBA champions the Golden State Warriors; former Microsoft CEO Steve Ballmer, who owns the Los Angeles Clippers; Microsoft co-founder Paul Allen, who owns the Portland Path Blazers and the NFL’s Seattle Seahawks; and Dallas Mavericks’ proprietor Mark Cuban, who based software program integrator MicroSolutions.

Powell Jobs can have the second-largest stake within the 19-person Monumental group, behind solely Monumental CEO and Chairman Ted Leonsis. Her buy comes greater than two months after she and Emerson bought a majority share of The Atlantic journal.

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