Facts of Ronald Wayne
|Full Name||Ronald Gerald Wayne|
|Birth Name||Ronald Gerald Wayne|
|Birth City||Cleveland, Ohio|
|Birth Country||United States|
|Date of Birth||March 17,1934|
Ronald Wayne, an American electronics industry businessman is better known as the co-founder & former stakes-owner in Apple Inc. (founded on April 1, 1976).
Reportedly, after 12 days of the corporation foundation, Waye sold 10% stake in the company for only $800 & gave up further potential rights to the company for additional $1,500.
Had Ronald kept the stakes in Apple Inc., he would become a billionaire by now, as the corporation stand with a market cap of $1 trillion.
How Much Is Ronald Wayne's Net Worth In 2020?
After leaving Apple Inc., Wayne worked at Atari until 1978, that specializes on building internal corporate documentation systems. Later, Ronald started his own stamp show in Milpitas, California & retired from business.
According to Celebrity Net Worth, 85-year-old Ronald Wayne has a net worth of $400,000 as of April 2020.
Online sources cite that if the American electronic industry business had not sold his stakes (10%), it could be worth $100 billion today.
As per report from CNBC in 2019, Ronald's stake was estimated to be worth $94 billion; far much more than the sales price of $800 only in 1976.
Meanwhile as of April 6, 2020, the Apple Inc. has a market cap of $1.053 trillion & each share trades for $244.92.
Was Co-Founding Member Of Apple Inc.
In 1971, after moving to California, Ronald Wayne started his venture in slot machines selling company, however, it failed miserably.
Thereafter, by 1976, he was working in Atari (founded in 1972), where he built internal corporate documentation systems & met co-workers Steve Jobs and Steve Wozniak.
After proposals from Jobs and Wozniak, the trio signed a partnership agreement & founded Apple Computer (now Apple Inc.) on April 1, 1976.
Reportedly as per agreement, Steve Jobs & Steve Wozniak would have 45% stake in the company, leaving 10% to Ronald Wayne to act as tie-breaker.
Sold His Stakes After 12 Days
After only 12 days of Apple Computer creation, Wayne approached Jobs & Wozniak on April 12, 1976, to sell his 10% stake in the company for $800.
Following the company's incorporation to Apple Inc. on January 3, 1977, in Cupertino, California, Ronald Wayne received another $1,500 to give up his potential future rights to Apple Inc.
Altogether the stakes in Apple Inc. during the early stage, got Wayne a total of $2,300.
Why Did Ronald Wayne Sold His Stakes In Apple Inc.?
Indeed, with growing success of Apple Inc. in the market cap from millions then to billions & now in trillion dollars, Ronald Wayne is often in the talks for losing the potential billionaire-dollars share.
But, the Cleveland, Ohio-born businessman barely regrets anything & claims it was the best decision he could make that time.
Reportedly, before Apple Inc. was launched, Ronald Wayne already saw huge debts through his failed slot machine business & even, had repaid debt for a year voluntarily.
And during the Apple Computer creation, Steve Jobs had made $15,000 line of credit to buy product materials & equipment.
Since they were all on partnership agreement, the company (if had not succeeded) could have cost Ronald's ownership over his personal assets, unlike for Job & Wozniak.
Did you know? Even after Ronald Wayne left Apple Inc., Steve Jobs approached him with a business contact for the company, but he refused.
Regrets On Selling Contract Paper
During the early 90s, Ronald Wayne sold his original partnership contract-paper for $500, signed by him, Steve Jobs and Steven Wozniak in 1976.
Later, in 2011, the contract-paper reportedly sold at an auction for a whopping $1.6 million, which the American businessman claims to have regrets on.
What Did Wayne Do After Leaving Apple Inc.?
After selling stakes in Apple Inc., Ronald Wayne again worked for Atari until 1978 (where he initially had met Jobs & Wozniak).
Then, following stints at Lawrence Livermore National Laboratory & in an electronics company in Salinas, California, he ran a stamp shop in Milpitas, California in the late 70s.
Moreover, Wayne wrote a memoir 'Adventures of an Apple Founder' in July 2011, & then 'Insolence of Office', a socio-economic treatise- released on October 1, 2011.
Wayne Is Gay: Short-Bio & Relationship
Reportedly, in 1974, while working in Atari, he opened up about his homosexuality to colleague Steve Jobs.
Sources, report that Ronald never married & is low-key about his relationship status disclosure. He lives in Pahrump, Nevada, where he sells stamps and rare coins.
Ronald was born Ronald Gerald Wayne on May 17, 1934, in Cleveland, Ohio, the USA. An American by nationality, Wayne belongs from white ethnic background.
Initially, he trained at New York-based School of Industrial Art as technical draftsman & later moved to California in 1956, at the age of 22 to pursue career in business.
Interesting Fact: Wayne never held an apple product until he was given an iPad 2 in 2011 at Update Conference in Brighton, England.