Finding Apple

apple cofounded sold his shares

That’s right folks, Steve Jobs and Steve Wozniak had a third co-founder, and his name is Ronald Wayne. He was apparently meant to serve as the “adult supervision” for the others, with Jobs only being 21 and Wozniak being 26. He was a part of the company for a mere 2 weeks before deciding that it wasn’t worth it for him to risk all of his assets so he took an $800 payout for his shares in the fledgling company. He had attempted to start a slot machine sales company in 1971, but it failed miserably and he was gun-shy when it came to the possibility of losing everything he had rebuilt over the previous 5 years. Can you imagine?

After the $800

The $800 was to pay him for his shares, and in 1977 just around a year after his departure from Apple he was paid an additional $1,500 to relinquish any claims on Apple. Altogether that amounts to $9,296 (in 2016) when you adjust for inflation. Less than 10k when he had the possibility of being worth nearly $60 billion. I guess the lesson in this is sometimes you should take chances! You never know if you’re working with the next Steve Jobs!

BONUS FACT!

Ronald Wayne made another weird choice in the early 1990s. He had kept the original Apple company agreement that was signed by all of the founders in 1976, but in the early 90s he sold it for $500. Unfortunately for Wayne by 2011 the contract was apparently worth $1.6 million, because that is what someone paid for it at an auction!

Just one more…

If Wayne had stuck with Apple the logo would have looked like this:

It’s cool, but it would certainly look strange on the back of a smart phone!

Image Source: https://en.wikipedia.org/wiki/Ronald_Wayne#/media/File:Apple_first_logo.png

 

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