Ronald Wayne, the lesser-known third co-founder of Apple, initially held a 10% stake in the company when it was formed in 1976. Wayne, who was in his 40s and working at Atari, played a pivotal role in the founding process, even drafting the initial contract. However, just 12 days after launch, he sold his share for $800, a decision he later described as a means of securing his financial future amidst uncertainties regarding the company’s viability. Today, Wayne’s share could be valued at upwards of $75 billion, reflecting Apple's monumental growth.
Wayne's decision to cash out may look foolish in hindsight, but in the moment, the then-41-year-old believed he was looking out for his own financial wellbeing.
Wayne cited concerns about Apple's financial stability, especially with Jobs borrowing money to purchase inventory from a retailer known for not paying their bills.
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