"Apple" of contention: Why the share of one of the founders of Apple in the multi-billion dollar revenues of the company amounted to only $ 800?
Tips Makradar / / December 19, 2019
If you ask, who founded Apple's, 99% of people will respond - Steve Jobs and Steve Wozniak. Because few people know (read - remember), that was also the third. The name of this forgotten hero Ronald Wayne.
It was he who created the first Apple logo, and was a three-way partnership. In addition, Wayne helped attract initial venture capital to transform the organization into a corporation. For all his efforts, he received a 10% stake in the future of the technology giant. But even that, given the current market value of Apple ($ 400 billion), would be enough to be a multi-billionaire with a huge villa on the shore of the ocean and private jet. But he lives in a small Nevada town and leads a fairly modest life. And the thing is that 35 years ago, Wayne made the most disastrous business decision ever - sold his stake for $ 800.
Lucky case
In early 1976, the future iKona Steve Jobs worked junior technician in the company Atari, and Steve Wozniak worked as an engineer at Hewlett-Packard. The boys had been friends since high school, so when in the mid-70's WHO developed the first personal computer, Jobs had just returned from the apple plantations, offered to give him the name of Apple. According to him, this title is perfect for those who does not understand anything in the art - "a cheerful, sincere, and not frightening." Also, after the presentation of Apple, Jobs 1 at a meeting of the "Club of homemade computers" proposed to implement the invention as a friend independent commercial product - the first fully assembled PC (before computers were sold primarily as a model for assembly). For this purpose it was necessary to establish a company and get money.
Fortunately, Jobs learned that one of his colleagues on the Atari have some experience in the business organization. We are talking about the chief engineer of Atari, which had a number of companies in the production of slot machines - Ronald Wayne. He became the missing link between Wozniak, Jobs and big business.
The birth of Apple Computers
April 1, 1976 was an historic event - Steve Jobs, Steve Wozniak and Ronald Wayne founded Apple Computers company. On the last assigned a very important tasks: to prepare a tripartite partnership agreement, to draft guidelines User «Apple 1" and coordinate the activities of the young start-up with the height of his age (Wayne 20 years older than the boys) and professionalism.
Four months later, the first fully assembled computer «Apple» was sold for an ominous amount of $ 666.66 (as of today it is about $ 2800). "Machine" in demand, so that soon the market was able to promote more successful product - Apple II.
As a result, in 1976 the company's revenue was $ 175,000, and in 1977 - already $ 2.7 million. Three years later, «Apple» completed its initial public offering, which resulted in more than 300 of its employees have become millionaires. By 1982, after five years from the date of launch, the corporation's turnover was more than a billion dollars and friends of Stephen became very, very rich.
Stop! What about Wayne? Alas, he could watch the takeoff Apple only on the part of - just two weeks after the start of operation of the company, he sold his share for ridiculous $ 800. A little later another and exchanged For ambitious all his rights to the company at the check in 1500 dollars. Total: 800 + 1500 = 2300 dollars, which translated into modern money attain to the level $ 9400. So what prompted Wayne to give up one of the largest and most successful IT-companies?
"I could not risk it"
According to the law, and the partnership agreement, Jobs, Wozniak and Wayne bore personal responsibility for all debts arising from any of the partners in connection with the activities of the company. At the same time Jobs and Woz did not have anything except their youth, intelligence and enthusiasm. Ronald also had some property that could easily go under the hammer, if Apple fails to. In addition, he also did not want to risk their modest business for the production of slot machines. And what were the chances of success at the two young men, without the slightest experience, come up with some "toy"?
Wayne admitted that he could not risk it, because he already had a bad experience in business - "I am getting old, and those two things were uneasy."
Nothing ventured ...
To date, Apple is the second largest company in the world with a market capitalization of $ 406 billion, second only to the palm ExxonMobil. If Wayne sold his share, now it is the capital would amount to over $ 40 billion. And if he has left at least 1% of the shares - its assets totaled to $ 4.06 billion.
But Ronald Wayne not a billionaire or even a millionaire. After leaving Apple, he was engaged in a variety: collecting coins, in charge of their own little shop stamps. In addition, Ronald owns a dozen patents, but even they did not make him rich.
Wayne now lives in a small American town, his capital, acquired over 79 years of life, estimated at about 200 000 dollars. All that he has from the technology giant, whom he once helped "born» - iPad 2, presented by Wayne in 2011.
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