The Golden Report

SPECIAL EDITION: THE DEATH OF STEVEN P. JOBS

Steve Jobs, the co-founder of Apple, Inc., died today at the age of 56. 

Jobs was born February 24, 1955 in San Francisco and adopted by Paul and Clara Jobs of Mountain View, California. He graduated from Homestead High School in Cupertino, California in 1972 and attended Reed College in Portland, Oregon, but dropped out after one semester. Jobs co-founded Apple with Steve Wozniak and Ronald Wayne in 1976. Eight years later, he led the team that founded the Macintosh Computer. All told, Jobs’ name is attached to 338 United States patents or pending patent applications. 

In 1982, Time Magazine named the Computer as the “Machine of the Year” and, in a profile of Jobs, called him “the most famous maestro of the micro.” During a 12-year gap from working at Apple in the late 1980s and 1990s, Jobs started a company called NeXT and another animation company called Pixar and later partnered with Disney to create the iconic movie “Toy Story” which Jobs worked on for over half a decade. Jobs returned to Apple, which purchased NeXT, and became Chief Executive Officer- a position he held until his resignation in August of this year. In 2006, Disney purchase Pixar for $7.4 billion and Jobs became one of the largest shareholders of the Walt Disney Corporation- holding approximately 7% of the company’s stock. Until his death, Jobs remained Chairman of the Apple Board of Directors. Jobs had battled pancreatic cancer since 2004 and underwent a liver transplant in 2009. 

New York Times Obituary: “Steven P. Jobs, the visionary co-founder of Apple who helped usher in the era of personal computers and then did nothing less than lead a cultural transformation in the way music, movies and mobile communications were experienced in the digital age, died Wednesday in Palo Alto, Calif.. He was 56.” 

New York Times Graphics- Steve Jobs’ Patents

Wall Street Journal Obituary: “Steven P. Jobs, the Apple Inc. chairman and co-founder who pioneered the personal computer industry and changed the way people think about technology, died Wednesday at the age of 56.

Statement from Bill Gates: “I’m truly saddened to learn of Steve Jobs’ death. Melinda and I extend our sincere condolences to his family and friends, and to everyone Steve has touched through his work. Steve and I first met nearly 30 years ago, and have been colleagues, competitors and friends over the course of more than half our lives. The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come. For those of us lucky enough to get to work with him, it’s been an insanely great honor. I will miss Steve immensely”
Statement from Michael Bloomberg: “Tonight, America lost a genius who will be remembered with Edison and Einstein, and whose ideas will shape the world for generations to come. Again and again over the last four decades, Steve Jobs saw the future and brought it to life long before most people could even see the horizon. And Steve’s passionate belief in the power of technology to transform the way we live brought us more than smart phones and iPads: it brought knowledge and power that is reshaping the face of civilization.”

White House Statement of the President, in part: 

“Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it.

By building one of the planet’s most successful companies from his garage, he exemplified the spirit of American ingenuity.  By making computers personal and putting the internet in our pockets, he made the information revolution not only accessible, but intuitive and fun.  And by turning his talents to storytelling, he has brought joy to millions of children and grownups alike. Steve was fond of saying that he lived every day like it was his last.  Because he did, he transformed our lives, redefined entire industries, and achieved one of the rarest feats in human history: he changed the way each of us sees the world.   

The world has lost a visionary. And there may be no greater tribute to Steve’s success than the fact that much of the world learned of his passing on a device he invented. Michelle and I send our thoughts and prayers to Steve’s wife Laurene, his family, and all those who loved him”

APPLE.COM’s homepage is a picture of Steve Jobs and, in boldface type on the left hand side, simply, “Steve Jobs: 1955-2011”. It links to apple.com/stevejobs, which reads “Apple has lost a visionary and creative genius and the world has lost an amazing human being. Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple.” 

“If you would like to share your thoughts, memories, and condolences, please email rememberingsteve@apple.com”

APPLE STOCK (AAPL) closed today up 5.75 points (1.54%) to $378.25 on the NASDAQ. Jobs held 5.426 million shares of Apple. 

In 2010, FORBES MAGAZINE estimated Jobs’ net worth at $8.3 billion, making him the 42nd wealthiest American. Jobs did not engage in public philanthropy, at least in the traditional sense, in his life. Although several large gifts are rumored to have come anonymously from Jobs he did not, for example, establish a personal foundation, focus on specific initiatives, or join public initiatives such as The Giving Pledge.

In June 2005, Jobs delivered the commencement address at STANFORD UNIVERSITY. The YouTube clip of the 15-minute speech has been watched over 6 million times. In the speech, Jobs talked publicly about his health condition for the first time, saying,

“Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.”

Full Transcript
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THE OTHER TOP STORY:

Former Alaska Governor and Republican Vice-Presidential Candidate Sarah Palin announced tonight that she will not seek the 2012 Republican Presidential Nomination, putting to rest persistent speculation since 2009 that she would return to public life after resigning as Alaska’s Governor and mount a bid for The White House. The announcement came on the Mark Levin Show this evening and in a statement released afterwards, Palin said, “As always, my family comes first and obviously Todd and I put great consideration into family life before making this decision. When we serve, we devote ourselves to God, family and country. My decision maintains this order.”
Republicans who were seriously considering a presidential bid this cycle but declined: Former Indiana Governor Mitch Daniels, Former South Dakota Senator John Thune, Former New York Governor George Pataki, Mississippi Governor Haley Barbour, New Jersey Governor Chris Christie, Former Arkansas Governor Mike  Huckabee, Indiana Rep. Mike Pence, Louisiana Governor Bobby Jindal and billionaire Donald Trump

With Palin’s announcement today- and Christie’s yesterday- the Republican field is now set, with 89 days before the Iowa Caucuses.

WALL STREET TODAY:

• DOW up 131
• NASDAQ up 55
• S&P 500 up 20