Steve Jobs’ Trust gets richer from sales of DROID branded phones
We’ve heard how Steve Jobs threatened a “thermonuclear war” to destroy the Android platform, which he considered a “stolen product”. Yet, the Steve P. Jobs Trust, managed by Job’s own wife, is making very good money from the sale of each Android flavored Motorola DROID branded phone. How ironic!
The sale of Pixar to the Walt Disney Company on January 24th 2006 was a $7.4 billion all-stock transaction, due to which Steve Jobs became the largest individual shareholder of Disney.
After Jobs’ death, his shares were transferred to the Steven P. Jobs Trust, managed by his wife. Today, the Trust is the largest individual owner of Disney shares. Disney, as you might have heard, has purchased Lucasfilm for $4.05 billion. But back in 2009, George Lucas had made a deal with Verizon for the use of the DROID name. This is how overseas versions of the same Motorola phones do not use the DROID moniker, while on most ads or documents related to a Motorola DROID phone, you will see the statement “DROID is a trademark of Lucasfilm Ltd. and its related companies. Used under license.”
So what does this all mean? It means that Disney will now get the licensing fees and royalties from Verizon for using the DROID name which could result in a higher stock price. And who benefits the most from a higher price for Disney shares? That would be the company’s largest shareholder, the Steve P. Jobs Trust.
Despite his deep and profound hatred of the platform, sales of Motorola DROID handsets could make Steve Jobs richer. Isn’t it really ironic?! Of course, Jobs can’t spend a penny of this windfall which is another irony, albeit a sadder one.
