Steve Jobs is not the only one: the new trend of millionaire leaders is not to leave their children inheritance

In 2011, the world fired Steve Jobs, the visionary behind Apple. But its legacy transcended the technology. Jobs not only revolutionized the industry, but also challenged conventions on inheritance and wealth.

Instead of his vast fortune to his children, Jobs made a bold decision: his wife, Laurene Powell Jobs, became the main heiress. His children, with the exception of Lisa Brennan-Jobs, were not part of the inheritance.

The reason behind this decision was not capricious. Jobs and his wife shared the idea that a great inheritance could be an obstacle to personal development. Powell Jobs, who manages fortune, has expressed his desire that the funds be used for philanthropic causes and that they «disappear» with it.

Through Emerson Collective and the Waverley Street Foundation, Powell Jobs has channeled resources towards education, social equity and the fight against climate change. Its objective is to generate a positive and lasting impact on the world.

Jobs’s vision is not unique. Billionaires such as Bill Gates and Warren Buffett have also adopted similar philosophies, committing to donate most of their wealth to beneficial causes through initiatives such as «The Giving Pledge.»

These business leaders believe that their children must build their own paths, without depending on an inheritance. Warren Buffett clearly expressed it: «I want my children to have enough to do something, but not so much so that they do nothing.»

In the entertainment world, figures such as Sting and Mick Jagger have also adopted this position. Sting has declared that his children «have to win» their own fortune, while Jagger has allocated their income to social causes.

Even new generations of entrepreneurs, such as Sam Altman, CEO of Openai, have joined this trend, committing to use their wealth for the benefit of society.

The children of Steve Jobs have followed diverse paths: Reed Jobs is dedicated to oncological research, Erin Jobs to architecture and Eve Jobs to modeling. Lisa Brennan-Jobs, on the other hand, has ventured into literature, exploring her relationship with her father in her writings.

The dynamics of inheritance is changing. What was previously considered a family obligation, is now seen as an opportunity to redistribute wealth and generate a positive impact on the world. For Jobs, Gates, Buffett and others, the greatest fortune they can leave is the possibility of building a better future for everyone.

Steve Jobs’s vision about salary:

Steve Jobs, from his return to Apple in 1997 to 2011, adopted a symbolic salary of one dollar a year. His true compensation came from the value of his shares in Apple, Pixar and Disney, which allowed him to accumulate a fortune of 8.3 billion dollars. Jobs believed in linking his success to Apple’s growth, prioritizing innovation on immediate benefit.