The Associated Press is reporting that Laurene Powell Jobs, the widow of Steve Jobs, has agreed to buy a 20 percent stake in Ted Leonsis’ Monumental Sports & Entertainment. Powell Jobs will have the second-largest stake in the 19-person Monumental group. Leonsis would remain the majority owner, chairman, and CEO.
The 53-year-old business woman has a net worth of $14.3 billion (as of May 2017). According to Wikipedia, she is the executive and the founder of Emerson Collective, which advocates for policies concerning education and immigration reform, social justice, and environmental conservation.
According to the AP’s Stephen Whyno, there is an agreement but the NBA and NHL must approve the move.
A spokeswoman for Monumental confirmed to The Associated Press that there is an agreement in place with Powell Jobs pending approval from the NBA and NHL. Monumental owns the Washington Wizards, Capitals, Mystics and the Arena Football League’s Washington Valor and Baltimore Brigade.
“Through her work at Emerson Collective, Laurene has been a longtime leader in areas of education, immigration, social justice and the environment, and has demonstrated that she shares Ted Leonsis’s belief in a double bottom line philosophy: that the companies that do best are those that do good in their communities,” a Monumental spokesman told to the AP.
Russian Machine Never Breaks is not associated with the Washington Capitals; Monumental Sports, the NHL, or its properties. Not even a little bit.
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