Billionaire Laurene Powell Jobs, widow of Steve Jobs, is investing more of her fortune in Hollywood by backing a movie studio alongside Oscar-winning director Davis Guggenheim, according to people with knowledge of the situation.
Emerson Collective LLC, a philanthropic firm founded by Powell Jobs, has co-founded a startup tasked with producing and financing documentary films and series, said the people, who asked not to be identified.
The Venice, California-based business goes by the name Concordia Studio and already has a film to its credit, “Kailash,” which was honored at the Sundance Film Festival.
The film examines child slavery and human traffickers through the story of Nobel Peace Prize winner Kailash Satyarthi.
Though her role in backing the studio hasn’t been publicly announced, Powell Jobs was listed as executive producer of “Kailash,” which won the U.S. Grand Jury Prize at this year’s Sundance Film Festival.
Read the story at Bloomberg.
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