The late Steve Jobs’ widow is no longer the single largest shareholder at Disney. As Variety reports, Laurene Powell Jobs has sold half of her position in the company according to regulatory filings. Powell Jobs’ sale of 64.3 million shares equates to about 4% of the company. Those shares were left to Powell Jobs after her husband death in 2011 and stem from The Walt Disney Company’s acquisition of Pixar.
A representative for Emerson Collective — a venture run by Powell Jobs — told Variety, “Laurene Powell Jobs remains a significant shareholder in the Walt Disney Co. after divesting a portion of her holdings as part of normal long-term financial planning and portfolio diversification. Such diversification is part of Powell Jobs’ philanthropic and impact investing efforts through her firm, Emerson Collective LLC, which focuses on education, immigration and the environment.”