Laurene Powell Jobs and Anonymous Giving in Silicon Valley

In Silicon Valley, people get very rich, very fast, often when they are very young. As a result, they are often criticized for not giving away enough of that money. There are signs that is changing, as people like Mark Zuckerberg become more philanthropic. But many in tech are still in their 20s, and say they are working long days running companies and trying to improve the world with their products, and will be able to focus on philanthropy later in life. There is another story line, though, one brought to light by the tale of Laurene Powell Jobs.

She is the widow of Steve Jobs, one of the tech titans who received the most criticism for a lack of philanthropy. Yet for more than two decades, his family has been giving away money — anonymously. One of the main ways she is able to do that is because of the way she has structured her organization, Emerson Collective. It is an LLC, like a small business, instead of a tax-exempt 501(c)(3), like a charitable organization or foundation. That means that Emerson can make grants, for-profit investments and political donations — and does not have to publicly report its donations as a foundation does.