fifty years ago, Steve Jobs and Steve Wozniak Apple was officially created. This week, the same founding document makes its own history, Sell Sold for $2 million at Christie’s auction.
But there are more than just two Steves’ names on the contract. There was a third signature: Ronald G. Wayne, a friend of Jobs who helped convince Wozniak to formalize the company and typed the agreement himself. As the stable hand of the group, Wayne received 10% of the shares, while Jobs and Wozniak each held 45% of the shares.
But less than two weeks after the ink was dry, Wynn was released from his contract — a decision that may be one of the greatest missed financial opportunities in history.
Wayne sold his shares for $800 and later Received $1,500 If he gave up any claim on the company, his 10% stake could now be worth between $75 billion and $360 billion, thanks to the company’s current market cap of nearly $4 trillion (after five years of growth).
As new investors came on board and the company went public in 1980, Jobs and Wozniak’s ownership stakes were diluted over time — an outcome that could have faced Ronald Wayne as well.
Why did Wayne cash out?
In hindsight, Wayne’s decision to cash out may seem foolish, but for now, the circumstances The 41-year-old believes he was thinking about his finances.
Wayne recalled that on the company’s first day, Jobs borrowed $15,000 to fill an order for “50 or 100 computers” from Byte Shop, a retail store with a history of falling behind on its bills. business insider 2017.
“How are we going to repay $15,000 if we don’t get paid?” he said.
“Jobs and Woz didn’t have two cents to put together. I had a house, a car and a bank account – which meant if that happened, I would be in trouble.”
early retirement
Perhaps surprisingly, finances weren’t the only reason Wayne had his name removed from the contract. He also worried that the experience would have a fatal blow to his career. After all, both Jobs and Wozniak were young stars, nearly half his age at the time. Wayne took this to mean that they would be pushed forward and he would have to watch from the sidelines.
“If I had stayed at Apple, I would have ended up being the richest man in the graveyard,” the now 91-year-old recalled. CNN.
“I knew I was standing in the shadow of a giant and I would never have my own project,” he responded Business Insider. “I would end up in the documentation department and deal with files for the next 20 years, but that’s not the future I saw for myself.”
Although Wayne recalled having no regrets at the time, he later admitted that it would have been nice if he didn’t have to worry about money. To make ends meet, he relies on renting out part of his property and cashing his monthly Social Security checks.
“I’ve never been rich, but I’ve never been hungry,” he said.
A version of this story was originally published on wealth network June 24, 2025.