Choose your answer and the correct choice will be revealed.
Correct Answer:
Ronald Wayne
And now, for some context
Apple was co-founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and the lesser-known Ronald Wayne. At the time, Wayne was working at Atari, where he had met Jobs. In the company’s formative days, Wayne provided crucial administrative oversight and helped draft the original partnership agreement.
Despite his early contributions, Wayne sold his 10% stake in the company for just $800 less than two weeks after Apple was founded. He later received an additional $1,500 to forfeit any future claims to the company. Adjusted for inflation, this amounts to approximately $11,000 today.
Wayne’s decision to sell his shares stemmed from concerns about personal liability. While all three founders shared equal responsibility for the company’s debts, Wayne, unlike Jobs and Wozniak, had significant personal assets at risk. In retrospect, Wayne’s 10% stake would have been worth billions, but in interviews, he has consistently stated that he has no regrets. He believed he made the best decision given the circumstances and his financial situation at the time.
After parting ways with Apple, Wayne returned to Atari and eventually retired in Pahrump, Nevada, where he enjoys selling stamps and rare coins as a hobby. Interestingly, the first Apple product Wayne ever owned wasn’t an early invention from his time with the company, but an iPad 2, which was gifted to him years later.
