Experts: Jobs family should sell shares

Nov. 23, 2011 at 1:40 PM
| License Photo

SAN FRANCISCO, Nov. 23 (UPI) -- Apple founder Steve Jobs' heirs should sell their entire stock of Apple and Disney shares, worth nearly $7 billion, financial experts said.

"I can't see any reason not to sell all of it," Kacy Gott, chief planning officer at wealth-management company Aspiriant, told the San Francisco Chronicle. "They should have been looking to diversify years ago."

U.S. law allows Jobs' heirs to avoid $867 million in capital gains taxes from the sale of Apple and Disney shares, and if the estate was left to Jobs' wife, Laurene Powell Jobs, the family would not have to pay the 35 percent estate tax until she dies or gives some of the money to others, the newspaper said.

Jobs' 138 million shares of Disney were worth $4.74 billion Monday, and his 5.55 million shares of Apple were worth $2.05 billion, the Chronicle said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Topics: Apple
Latest Headlines
Top Stories
B-52 bombers demo long reach of U.S. air power
Army orders tactical trucks from Oshkosh
Reddit CEO Ellen Pao offers to improve communication in wake of firing scandal
Oil markets hammered by Greece, Iran and China
Eni starts production at giant Venezuelan gas field