Apple co-founder sold shares currently worth over ₹ 2911292 crore for just ₹ 32000, here’s why
Imagine having a 10% stake in Apple and sell it for just $800 because you’re uncertain about Apple’s fate as a company. In 1990, when $1 was trading at approx $On October 40, Apple’s third co-founder, Ronald Wayne, sold 10% of his shares for just $32,000. As of November 2024, Apple’s 10% stake will be worth up to $345 billion ( $2911292 billion VND).
Apple has three founders – Steve Jobs, Steve Wozniak and Ronald Wayne. While both Steves were in their twenties, Wayne was 42 years old. He designed the first logo for Apple and was also responsible for mechanical engineering and documentation. Speaking of logos, Wayne created the historic “Issac Newton eating an apple under a tree” logo for Apple.
For Wayne, the $800 bonus seemed reasonable in 1990 because he believed the pressure of work at Apple would kill him and he didn’t want to be “the richest man in the graveyard.”
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In Apple’s early days, a young Steve Jobs secured a $15,000 loan to fulfill the company’s first contract with The Byte Shop, a retailer notorious for not paying its bills. At the time, Jobs was working with Ronald Wayne and Steve Wozniak to get the company off the ground. However, Wayne, the less enthusiastic partner, feared the financial risks involved and doubted the venture would be successful.
Wayne has more to lose than his two colleagues. With few assets at his disposal, he worried that if the company went bust, it could leave him financially bankrupt. Faced with growing uncertainty, Wayne made the difficult decision to back out of the deal, selling his shares in the company for just $800. If he held those shares, today he would be worth an estimated $290 billion, potentially making him the richest person on the planet.
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No regrets despite the missed fortune
Despite the huge financial gain he missed, Wayne never regretted his decision. In later years, he repeatedly stated that his choice was based on the information available at the time. “I truly believe that Apple will succeed, but at the same time, I also see that there will be significant obstacles along the way,” he said.
Wayne admitted that, after difficult business experiences in the past, he could not take risks. “I got older and those two men, Jobs and Wozniak, were whirlwinds,” Wayne reflects. It was like being grabbed by the tail by a tiger.” “I can’t keep up with them.”
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Although Apple eventually became the most valuable company in the world, Wayne believed that sticking with it would subject him to unbearable pressure. “I’d probably kill the richest man in the cemetery,” he commented, acknowledging the toll the intense pace and pressure of the early days would take on him.
Another path
Today, Wayne’s decision remains a fascinating “what if” in the history of technology. Although his $800 was nothing compared to what he could have had, Wayne appeared satisfied with the life he had chosen. In his view, leaving Apple was the right decision at the time – a decision made with his financial security, health, and peace of mind in mind.
