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Third Apple founder has no regrets over selling his stake for $800

Posted on Wednesday, April 21 2010 @ 02:25:31 CEST by


Ronald Wayne, the third founder of Apple, reportedly has no regrets over selling his 10 percent share in the company for just $800 in 1976. Today a 10 percent stake in Apple is worth over $22 billion, but Wayne explains he wanted to get out because the startup was in debt at the time and he couldn't take any more stress.
"If I had stayed I would be incredibly wealthy but I would have wound up the richest man in the cemetery — dying of a heart attack." "The thing that made me pull out was that Jobs had borrowed $15,000 to buy the materials to make computers."

"I was in debt for $1,500 — my ten per cent of that — and I had no idea where I would get that money.

"I had enough stress in my life and I couldn't take any more. I was looking for a quiet life."

The tabloid reports Wayne, 75, who now lives on a small state pension, in a modest home in the retiree town of Pahrump, Nevada, US, had no idea Apple would become such a big company.
More details at ComputerWorld.


 



 

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