Apple cofounder Ronald Wayne sold his 10% stake for $800 in 1976—today it’d be worth up to $400 billion |
Apple cofounder Ronald Wayne sold his 10% stake for $800 in 1976—today it’d be worth up to $400 billion
Apple’s little-known third cofounder, Ronald Wayne, was originally given a 10% stake in the now $4 trillion computer company. He cashed out just 12 days after Apple’s inception for $800, and he said at the time he had no regrets. As Apple celebrates 50 years since its inception, Wayne may not be celebrating, as his stake today would be worth billions.
Fifty years ago, Steve Jobs and Steve Wozniak put ink to paper to officially create Apple. This week, that same founding document made history of its own, selling for $2 million at a Christie’s auction.
But the contract didn’t just bear the names of the two Steves. There was a third signature: Ronald G. Wayne, a friend of Jobs’ who helped persuade Wozniak to formalize the company—and who typed up the agreement himself. For his role as the group’s steady hand, Wayne received a 10% stake, while Jobs and Wozniak each took 45%.
But less than two weeks after the ink had dried, Wayne had removed himself from the contract—a decision that might be one........