B1 Intermediate 52 Folder Collection
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Apple makes so much money, that any other company in comparison looks insignificant.
In just one-quarter, Apple made more money than Amazon has since its inception.
The company has become a money-making machine with over two hundred billion dollars in its
bank accounts. In fact, it makes more money than Microsoft,
Facebook and Alphabet combined. That's why investors love Apple, unlike other
tech giants that promise huge profits in the future, Apple is making huge profits now.
However, the person who founded Apple and led it to greatness never became the worlds
richest man, unlike some others. In fact, even if he would be alive today, he still
wouldn't be even in the top 10 richest people even though he has built the worlds most valuable
company from scratch. So, let's try to find out why Steve Jobs
wealth had nothing to do with Apple even though he spent his entire life building it.
You see, Steve Jobs had a complicated relationship with Apple.
Just after 2 years of starting Apple, Job's net worth was already over a million dollar.
In fact, Apple 2 was so successful that by the time Steve was 25, his net worth exceeds
250 million dollars. That made him one of the youngest people ever on Forbes' list
of the richest people in the United States. What's more, he was part of a very tiny
group of people under 30 to make the list with no inherited money.
Even When the company completed its initial rounds of fundraising, Jobs still held 26%
of the company which would worth today over 214 billion dollars.
Nonetheless, along the way, Jobs kept selling his shares and after 5 years of the company
going public, Jobs stake of the company has dropped to only 11 percent.
However, this incredible success didn't last long. After recruiting John Sculley,
the head of Pepsi-Cola, to be its new chief executive (CEO). Things went bad for Jobs.
These two men had absolutely different visions for the company and in the spring of 1985,
the board sided with John Sculley and removed Jobs from His position.
He left the company and sold all of his shares for 130 million dollars. He did retain a single
share so that he could receive the company's annual report.
It's at that time when Jobs made most of his fortune.
4 Steve went to find another computer company
that he named NeXT. It mostly focused on building computers for companies, scientist and academic
purposes. And it had achieved relatively good success, especially with software.
Simonteously, Steve founded Pixar, the animation company that created some of the most popular
animated films in the world such as toy story, Finding Nemo, Cars, A Bug's life and many
more that were extremely successful. By 2004, as Pixar's contract with Disney was
running out,  Jobs announced that Pixar would seek a new partner to distribute its films,
However, Pixar was too important for Disney, so they agreed to purchase Pixar in an all-stock
transaction worth $7.4 billion. The deal netted Jobs $4.3 billion in Disney stock and
made him the company's biggest single shareholder. In fact, he made more money from this deal
that he ever had from apple.
Speaking of apple, after the resignation of Steve, the company crippled and went to a
long lasting crisis. Apple brought multiple CEOs on the board, however, no one could get
back apple to its knees and the company was left with no other choice but to get Steve
back on the board. But it wasn't easy since they forced him
out of the company in the first place. So, Apple agreed to purchase NeXT for almost
half a billion dollars (427 M) in 1996 and appoint Jobs first as Interim CEO and as the
CEO. On top of that, Apple granted Steve 1.5 million
shares, however, he quickly sold them upon getting his position.
under Job's leadership, the company introduced multiple revolutionary products and the company
stock price increased from under a dollar to almost 60 dollars per share.
And before he passed away, his net worth was around 10 billion dollars which mostly consisted
of Disney shares. It's only after he died, the company's
valuation soared to over a trillion dollars (graph). If jobs had kept his 26 percent stake,
it would worth a whopping amount of 209 billion dollars.
Even his 11 percent stake that he held after the company went public would worth today
over 88 Billion dollars (88 660 000 000). That would make him the 3rd richest person
in the world. Nonetheless, you can't really blame him for
selling his shares since he couldn't have expected to be back at Apple after he was
forced out. And that's why the man who built the worlds
most valuable company never became the worlds richest man.
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Why Steve Jobs Never Became The World's Richest Person

52 Folder Collection
Summer published on August 8, 2020
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