Original Apple Contract to be auctioned off

BokehBokeh Member Posts: 1,636 ■■■■■■■□□□
Sotheby's to auction off Apple's founding contract - Computerworld

The big OOPS from the article:

The three-page document, dated April 1, 1976, was signed by co-founders Steve Jobs, Steve Wozniak and the lesser-known Ron Wayne.

Wayne was instrumental in the founding of Apple, according to Sotheby's, which cited the recent biography of Jobs penned by Walter Isaacson. Forty-one at the time -- and now 77 -- Wayne was recruited by Jobs to convince Wozniak to launch the partnership. For his part, Wayne was offered a 10% share in the new company, Apple Computers.

Jobs and Wozniak were to evenly split the remaining 90%, according to the contact.

Wayne, however, relinquished his part of the deal just days later, receiving $800 for his shares. He bowed out in part because of past business venture failures as well as the fact that all the partners were personally liable for any debts the new company might accrue.

At Apple's current market capitalization, Wayne's 10% would be worth approximately $3.5 billion.


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