History

Apple Co-Founder Sold His 10% Stock in 1976 for $800, Worth $59 Billion Today.

Apple Co-Founder Sold His 10% Stock in 1976 for $800, Worth $59 Billion Today.

In 1976, Apple co-founder Ronald Wayne sold his shares of the company – equaling 10% of Apple – for $800. Those shares today are worth about $59 billion.

Sponsored Links

Third Apple Co-Founder

While history remembers the early days of Apple Computer with Steve Jobs and Steve Wozniak building the company out of a garage, there was in fact a third founder of Apple named Ronald Wayne. He and Jobs worked together at Atari before founding Apple.

Shortly after the company was founded, Apple’s third co-founder feared he might lose his assets – unlike Steve Wozniak or Steve Jobs, who had no assets to speak of – if Apple went under. Deciding he didn’t want to take a chance with this new company with two young leaders, Wayne forfeited his claims against the company when they incorporated, and he received a $1500 “severance” check. He earned a total of $2300 at the company, factoring in the $800 stock sale. Wayne bowed out of the company 12 days after it was formed.

Ronald Wayne designed the original Apple logo and wrote the manual for the Apple I computer.

Wayne told Mercury News in 2010:

“I just wasn’t ready for the kind of whirlwind that Jobs and Wozniak represented. I felt certain the company was going to be successful; that wasn’t the question. But how much of a roller coaster was it going to be? I didn’t know that I could tolerate that kind of situation again. I thought if I stayed with Apple I was going to wind up the richest man in the cemetery.”

Wayne later worked as an engineer and has sold stamps during his retirement. Despite his early ties to Apple, Wayne never owned an Apple product until he was given an iPad2 in 2011.

While Wayne and Jobs worked together at Atari, Ron confided with his co-worker, telling Jobs that he was gay. “It was my first encounter with someone who I knew was gay,” Jobs later remembered.

Sources

Updated May 25, 2016
Originally published June 2015

Sponsored links
View Comments (1)

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

History

More in History

  • 10 Highly Educated Rock Stars

    Today we look at a few of the most educated rock stars who broke the stereotype that rock musicians are uneducated or unintelligent. Sponsored Links

  • Did Kissinger Call Military Men “Dumb Stupid Animals”?

    Today we look at the quote attributed to Henry Kissinger in which he allegedly stated that military men were “dumb, stupid animals.” Sponsored Links

  • Kennedy Quotes on Minute Men and the 2nd Amendment

    Today we look at two heavily-shared quotes attributed to President Kennedy related to “Minute Men” and the Second Amendment. Sponsored links

  • Symbolism Run Amok: The Demise of the Bellamy Salute

    With their right arms extended stiffly forward, angled upward with fingers straight, man, woman, and child reflexively spoke the familiar words in unison. While this scenario might easily be mistaken as coming straight out of a reviled chapter of European history, this particular description is not denoting a gesture of fascism, but...

  • A Fool’s Errand: Speculating on the Origin of April Fool’s Day

    The world is full of reasons to be serious. Poverty. Disease. Famine. War. When people have trouble choosing a good reason to be serious, they settle for one of their own. People argue over religion, over politics, over sports, and over nothing at all. And as this contentiousness has taken place throughout...

  • Should the U.S. Penny be Eliminated?

    In late 2011, a video trended on YouTube which re-addressed the question of whether or not the U.S. penny should be discontinued. While it wasn’t the first or the last time the topic has been addressed, it was an early viral social media video on a subject that seems to come up every year. Although...

  • Three Modern Science Experiments on Humans That Were Outrageously Unethical

    Here are three science experiments on humans in the 20th century that are now infamous for being outrageously unethical: The Stanford Prison Study, the Milgram experiment, and the Tuskegee syphilis study. These cases are widely studied by students of psychology when considering the ethics of scientific experimentation. Sponsored links

  • Did Bernie Sanders March in Selma with MLK?

    A photo allegedly shows a young Bernie Sanders participating in a march with Martin Luther King, Jr. in March 1965. Sponsored Links

Celebrating the weird and fake since 2008.

Copyright © 2008-2016 Wafflesatnoon.com, Inc. Theme by MVP Themes, powered by Wordpress.