According at an analysis by breakingviews.com (available for viewing without a subscription on the New York Times’ website), the market has concluded that Steve Jobs is worth $20 billion to Apple.

To reach this conclusion, revenue streams were tallied from Apple’s Macintosh, iphone, ipod and software businesses and then compared to the firm’s market capitalization.

• Do the sums, and Apple’s slices are worth about $60 billion. Its current market value hovers around $80 billion. One could argue the difference is a measure of the “Jobs premium.” Apple is worth more than its parts because it has successfully harnessed the convergence and synergies of computers, cellphones and entertainment.
• If the man who engineered this harmony were to fall ill, investors might not accord such a high premium. That’s all the more reason for Apple to reassure shareholders with a rock-solid succession plan.

Even if you don’t think the numbers add up to $20 billion, you can’t deny how important Steve Jobs’ vision is to his company. But has he lacked a vision when it comes to building an institution that can outlast him? How have other startups incorporated the vision and values of their founders without staying totally dependent on them?

Categories: Business, CEOs, Finance, Mobile, Music