The worst business decision in history: A man sold his 10% of Apple...
Oscar Hoole@theoscarhoole
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May 13, 2025
~3 min read
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The worst business decision in history:
A man sold his 10% of Apple for $800.
Today, that stake would be worth $320,000,000,000.
He lives on social security in a small Nevada home.
The forgotten third founder who walked away from everything 🧵
A man sold his 10% of Apple for $800.
Today, that stake would be worth $320,000,000,000.
He lives on social security in a small Nevada home.
The forgotten third founder who walked away from everything 🧵
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April 1, 1976: In a California garage, three men start Apple:
Jobs: The visionary with no money
Wozniak: The genius with no business sense
Wayne: The adult with everything to lose
One would become the forgotten founder.
Jobs: The visionary with no money
Wozniak: The genius with no business sense
Wayne: The adult with everything to lose
One would become the forgotten founder.
0:40
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Ronald Wayne wasn't just along for the ride.
He designed Apple's original logo.
He wrote their partnership agreement.
He was given 10% ownership.
But something kept him awake at night...
He designed Apple's original logo.
He wrote their partnership agreement.
He was given 10% ownership.
But something kept him awake at night...
0:33
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Wayne was 41.
The Steves were in their 20s.
He had assets.
They had nothing.
He saw Jobs taking on debt.
As a partner, he'd be PERSONALLY liable.
The fear of losing everything consumed him.
The Steves were in their 20s.
He had assets.
They had nothing.
He saw Jobs taking on debt.
As a partner, he'd be PERSONALLY liable.
The fear of losing everything consumed him.
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Just 12 days after Apple began, Wayne panicked.
He drove to the registry office.
Filed paperwork to remove himself.
Took $800 for his 10% stake.
Later accepted $1,500 more to sign final release.
The clock was ticking...
He drove to the registry office.
Filed paperwork to remove himself.
Took $800 for his 10% stake.
Later accepted $1,500 more to sign final release.
The clock was ticking...
0:50
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Wayne returned to his safe job at Atari.
He later opened a small stamp shop.
He never worked in tech again.
He never got rich.
Meanwhile, Apple was about to change the world.
He later opened a small stamp shop.
He never worked in tech again.
He never got rich.
Meanwhile, Apple was about to change the world.
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The devastating irony?
Jobs and Wozniak incorporated Apple just ONE YEAR later.
This would have protected Wayne from all liability.
Had he waited just 12 months, he'd have kept his 10% with ZERO risk.
Jobs and Wozniak incorporated Apple just ONE YEAR later.
This would have protected Wayne from all liability.
Had he waited just 12 months, he'd have kept his 10% with ZERO risk.
0:42
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As Apple grew, Wayne's decision became increasingly catastrophic:
1980: $7.3 million lost
1995: $113.5 million lost
2010: $2.6 billion lost
2020: $120 billion lost
Today: $320 BILLION lost
From one decision made in 12 days.
1980: $7.3 million lost
1995: $113.5 million lost
2010: $2.6 billion lost
2020: $120 billion lost
Today: $320 BILLION lost
From one decision made in 12 days.
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In a cruel twist, Wayne's original Apple contract sold at auction for $1.6 million.
That's 695 times what he received for his actual stake.
Even the paperwork of his mistake became more valuable than what he got.
That's 695 times what he received for his actual stake.
Even the paperwork of his mistake became more valuable than what he got.
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Today, Wayne would be the 2nd richest person on Earth.
Instead, he lives on social security.
He sells stamps online.
He drives a modest car.
The contrast with Jobs and Wozniak couldn't be more stark.
Instead, he lives on social security.
He sells stamps online.
He drives a modest car.
The contrast with Jobs and Wozniak couldn't be more stark.
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The most mind-blowing part?
Wayne claims he has zero regrets.
"I made the best decision with the information I had. I'd have been the richest man in the cemetery."
But at what cost?
Wayne claims he has zero regrets.
"I made the best decision with the information I had. I'd have been the richest man in the cemetery."
But at what cost?
0:40
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With $320 billion, Wayne could have:
- Funded NASA for 15 years
- Ended world hunger for a decade
- Built 320 world-class universities
- Transformed medicine forever
Instead, he sells collectible coins from home.
- Funded NASA for 15 years
- Ended world hunger for a decade
- Built 320 world-class universities
- Transformed medicine forever
Instead, he sells collectible coins from home.
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Wayne never even owned an Apple product.
He used a simple Android phone.
He watched from the sidelines as Apple transformed society.
The company he helped create changed everything without him.
He used a simple Android phone.
He watched from the sidelines as Apple transformed society.
The company he helped create changed everything without him.
0:55
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The Ronald Wayne story is a brutal reminder:
The biggest opportunities look the riskiest.
Conviction matters more than being first.
12 days of patience can be worth $320 billion.
What opportunity are YOU walking away from?
The biggest opportunities look the riskiest.
Conviction matters more than being first.
12 days of patience can be worth $320 billion.
What opportunity are YOU walking away from?
0:57
15
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16
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Just the elite 1% of knowledge that separates the Ronald Waynes from the Steve Jobs.
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