Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, has a new title: pro sports owner.
Powell Jobs is purchasing a 20 percent stake in Monumental Sports & Entertainment, the Washington, DC-based organization that owns the NBA's Washington Wizards, the NHL's Washington Capitals and the WNBA's Washington Mystics, as well as the Capital One Arena. The purchase was revealed Tuesday.
One of the world's richest women, worth an estimated $20 billion, the 53-year-old Powell Jobs is a philanthropist, entrepreneur and president of the Emerson Collective, whose mission includes "removing barriers to opportunity so people can live to their full potential."
"We have an agreement with Laurene Powell Jobs, founder and president of Emerson Collective, to join the Monumental Sports & Entertainment ownership group," Monumental said in an emailed statement. "The process is underway and is pending league approvals."
Terms of the deal weren't disclosed. An Emerson spokeswoman declined to comment.
Powell Jobs will join the ranks of tech industry luminaries who own sports franchises. Others include venture capitalist Joe Lacob, co-owner of; former Microsoft CEO Steve Ballmer, who owns the Los Angeles Clippers; Microsoft co-founder Paul Allen, who owns the Portland Trail Blazers and the NFL's Seattle Seahawks; and Dallas Mavericks' owner Mark Cuban, who founded software integrator MicroSolutions.
Powell Jobs will have the second-largest stake in the 19-person Monumental group, behind only Monumental CEO and Chairman Ted Leonsis. Her purchase comes more than two months after she and Emerson purchased a majority share of The Atlantic magazine.
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