Imagine having 10% stake in Apple and selling it for just $800 because you were unsure about the fate of Apple as a company.
In 1990, when $1 traded at around ₹40, Apple's third co-founder Ronald Wayne sold his 10% stake for just ₹32,000. As of November 2024, the 10% Apple share will fetch upwards of $345 billion ( ₹2911292 crore).Apple had three founders- Steve Jobs, Steve Wozniak and Ronald Wayne.
While both the Steves were in their twenties, Wayne was 42-years-old. He made the first logo for Apple and was also responsible for mechanical engineering and documentation.
Talking about the logo, Wayne created the historic “Issac Newton eating an apple under a tree” logo for Apple.For Wayne, the $800 payout seems justified in 1990 because he believed that work stress at Apple would have killed him and he did not want to be the "richest man in the graveyard”.Also read: Mukesh Ambani may get this key ₹10000000 site for free, Reliance just needs…In the early days of Apple, a young Steve Jobs secured a $15,000 loan to fulfil the company's first contract with The Byte Shop, a retailer with a reputation 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 succeed.Wayne had more to lose than his two counterparts.