Apple’s third co-founder sold his 10% stake for just $800 — it would be worth $345 billion today, but he says the stress wasn’t worth it

In the big Silicon Valley story, Apple Inc. is often reminiscent of the dynamic duo of Steve Jobs and Steve Wozniak. But there’s a lesser-known character in this story, a man who played a crucial role in Apple’s early days but has faded into the background of history: Ronald Wayne.

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Wayne was the third co-founder of Apple, a man whose short tenure at the company became a legendary story of what could have been. He sold his 10 percent stake in the company for just $800—a decision that, in retrospect, seems almost unimaginable. Today, thanks to Apple’s current market value of about $3.45 trillion, Wayne’s stake would be worth about $345 billion.

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Ronald Wayne, born in 1934, was already an experienced engineer and entrepreneur when he joined forces with the much younger Jobs and Wozniak in 1976. At 41, Wayne brought maturity and stability to an otherwise energetic and ambitious team youthful. His job was to provide “adult supervision” to the startup, handle mechanical engineering and handle the necessary paperwork. Wayne was instrumental in drafting the initial partnership agreement and even designed Apple’s first logo. Despite his significant contributions, Wayne’s time with Apple was incredibly short – just 12 days.

So why did he leave? Wayne was concerned about the financial risks involved. Jobs took out a $15,000 loan to fulfill an order for The Byte Shop, a retailer with a shaky reputation. As the only one with substantial personal assets (including a house), Wayne feared that his debt would fall through if the business failed. Jobs and Wozniak, having no real assets then, had little to lose, but Wayne was not in the same position. Fear of financial ruin led him to sell his shares to Jobs and Wozniak for that fateful $800.

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Looking back, it’s easy to see Wayne’s decision as a monumental mistake, especially given Apple’s incredible success. But Wayne himself has no regrets. He often said that if he had stayed with Apple, the stress would have killed him, making him “the richest man in the graveyard”.

The story continues

The story of Ronald Wayne is a compelling reminder of the unpredictable nature of entrepreneurship. Although he missed out on becoming one of the richest men in the world, he is at peace with his decision, valuing his well-being over wealth. Today, there is a growing recognition of his contributions, with many now acknowledging his role in the birth of Apple.

His legacy, in the end, is not defined by the wealth he gave up, but by the fact that he was there at the very beginning, laying the foundation for one of the most influential companies in history.

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This article Apple’s third co-founder sold his 10% stake for just $800 — it would be worth $345 billion today, but he says the stress wasn’t worth it originally appeared on Benzinga.com

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