“With a flourish of legalese, Ron Wayne drafted the three-page document that founded Apple Computer (AAPL) on April Fools Day, 1976,” Phillip Elmer-Dewitt reports for Fortune.
“Jobs and Wozniak each got 45% of the new company, and Wayne got 10%,” P.E.D. reports. “Eleven days later, Wayne got cold feet. He came back with a two-page document formally withdrawing from the partnership. The 10% he sold back to Jobs and Wozniak for $800 would today be worth $3.9 billion.”
P.E.D. reports, “At a sparsely attended Sotheby’s auction Tuesday the two documents sold for $1.35 million… The buyer, who followed the action by telephone, was unidentified.”
Full article here.
[Thanks to MacDailyNews Readers “Dan K.” and “Judge Bork” for the heads up.]
YUUUP!
It is funny thing that this poor Wayne guy lost “it” twice — when he initially sold Apple’s stock and when he sold his copy of founding papers years ago for little money. Now he could have these $1.35 million (minus auction fee and taxes, of course) himself.
There are two other originals that left supposedly in the hands of original owners or their heirs: one belongs to Jobs’ family, and the other one to Wozniak.
Wait these documents are not Ron’s ?
If not then wow… this guy just keeps striking out!
Yes, Ron sold it like 25 years ago.
Awesome! I’m sure Ron is pleased!
Apple’s market cap today is $361 billion. How does 10% of the company work out to $3.9 billion?
Ok, it’s $3.61 billion
Or in Ballmer words: it’s a rounding error
Sorry $36.1 billion
Well, still a round off error
The ownership percentages were diluted when the company went public and issued common stock.
AAPL was down today.
Ridiculous. Use the money to help somebody instead of buying useless paper.
It is not useless!
When the economy collapses these papers will come in handy starting a fire to keep warm!
Use your own fscking money to help someone.
Frivolous purchase? Maybe.
But the fact remains that it’s their GD money and they can damn well do what they want with it.
I’m sure the guy from whom they were purchased feels helped by his new $1.5 mil.