Basic Information About Ronald Wayne
|Date of birth
|1934-05-17 (89 years old)
|Place of birth
|United States of America
Net Worth Details
Ronald Wayne, an American investor and technologist, is best known for being one of the co-founders of Apple Inc. His net worth is estimated to be $400 thousand. However, Wayne is infamous for making a monumental mistake in his early days at Apple. He sold his 10% stake in the company back to Steve Jobs and Steve Wozniak in 1976 for a mere $800. Today, that stake would be worth over $200 billion.
What is Ronald Wayne known for?
Ronald Wayne is primarily known for being a co-founder of Apple Computers. However, his role in the company was short-lived, as he decided to sell his stake early on due to fears about personal liability and a desire to pursue his true passion of product engineering.
Early life and education
Ronald Wayne was born on May 17, 1934, in Cleveland, Ohio. He showed an early aptitude for technical skills and pursued training as a technical draftsman at the School of Industrial Arts in New York. At the age of 22, he moved to California, where he would later embark on his entrepreneurial journey.
After working for various companies, Wayne came up with an idea for his first business venture – a company selling slot machines. Unfortunately, the venture proved to be unsuccessful, and Wayne realized that his strengths lay more in engineering rather than business acumen.
It was during his time at Atari that Wayne crossed paths with a young developer named Steve Jobs. Through Jobs, Wayne also met Steve Wozniak. The three would go on to discuss technology and business ideas during a meeting at Wayne’s home, which ultimately led to the formation of Apple Computers in 1976.
During his tenure at Apple, Wayne contributed to the company’s early stages by illustrating Apple’s first logo and writing the manual for the Apple I. However, his risk-averse nature and concerns about personal liability led him to sell his 10% stake in the company for $800 just a few weeks after its formation. He also relinquished all rights of ownership for an additional $1,500 when Apple became an official corporation.
Despite his short-lived involvement with Apple, Ronald Wayne played a significant role in the company’s early days. He made significant contributions through his design work for Apple’s logo and the creation of the manual for the Apple I. Wayne’s decision to co-found Apple also showcased his keen eye for potential innovation and opportunity.
However, it is Wayne’s decision to sell his stake in Apple that has garnered the most attention. With that 10% stake now worth more than $200 billion, it has become one of the most infamous mistakes in the history of the tech industry. Wayne has maintained that he made the best decision with the information available to him at the time and does not regret his choice.
After his departure from Apple, Wayne continued working in various industries and even started his own stamp shop. He retired to Pahrump, Nevada, where he currently sells stamps and rare coins. Wayne has published a memoir titled “Adventures of an Apple Founder” and a socioeconomic treatise called “Insolence of Office.” Despite not owning an Apple product until later in life, Wayne’s legacy will forever be tied to his brief period as one of the original co-founders of Apple Computers.