Why he sold Apple’s 10% stake for $800 which is more than $80 billion today (Video)

Three co-founders of Apple

There is a third co-founder of Apple named “Ronald G Wayne” who had a 10% stake of the company at the point of starting and he decided to sell his ownership back to the other two shareholders for $800 in 1976. Today 10% stake of Apple is worth more than 80 billion dollars. His reason for selling the stake was that the other two Steve Jobs and Steve Wozniak had zero bank accounts, but Wayne had bank accounts, a car and a house, he was matured than the other two. If the company had debts that couldn’t be paid, owners will have to pay off them with their own funds.

Jobs has already taken $15000 loan to buy materials for delivering one of the orders. Wayne got scared that he will end up paying all the debts since he is the richer person out of the three, to avoid the risk he decided to sell and quit today’s $80 billion stake in 1976 for $800. Even today Wozniak appreciate Wayne’s knowledge towards documentation at that time and “Jobs had lot of respect for him for that” he said. Also, it was Wayne who designed the first Apple logo which was changed after some time to the present one.

When Wayne’s was asked whether he regrets on the decision to sell his shares. His answer is that if he had stayed with Apple he would have stayed rest of his life handling whole bunch of documents and that is not what he wanted to do. His message to everyone was “Find something that enjoying doing”.

Wozniak said one of his interviews that Wayne doesn’t have enough money to afford Apple products today. Wayne says Steve Jobs is not a nice person, but it really doesn’t matter, what matter is how he brought Apple from where it was to where it is.

It’s not only that about Wayne’s luck, also he had the original agreement signed by all three of them with him until early 1990’s, he says it was covered with dust hence he decided to sell it off and sold it for $500. In year 2011 the same document sold in an auction for $1,590,000.

Steve Jobs became a very rich person, but he couldn’t live more that 56 years despite having all the money. Wayne did not continue his stake with Apple hence could not be as rich as Jobs, but he is still alive at 84.

Who is more successful?

Raphel Shervon

@sfernandopulle

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