“Apple’s stock — at one point the most valuable in the world — is up more than 43,000 percent since its IPO exactly 38 years ago Wednesday,” Sara Salinas and Christopher Hayes report for CNBC.
“The company first listed its shares on public exchanges on Dec. 12, 1980, at $22 a share,” Salinas and Hayes report. “Several stock splits and more than a billion iPhones later, the stock has gained 43,371 percent on a price appreciation basis.”
“Price appreciation is change in the stock price, not including dividends paid to the investor,” Salinas and Hayes note.
Read more in the full article here.
MacDailyNews Take: That’s a lot of wealth creation! Let’s hear more about that from Steve Jobs:
I saw a lot of other people at Apple, especially after we went public, how it changed them. A lot of people thought they had to start being rich. A few people went out and they bought Rolls-Royces, they bought homes, and their wives got plastic surgery. I saw these people who were really nice, simple people turn into these bizarre people. I made a promise to myself: I said, ‘I’m not going to let this money ruin my life.
You know, my main reaction to this money thing is that it’s humorous, all the attention to it, because it’s hardly the most insightful or valuable thing that’s happened to me in the past 10 years.
I was worth about over $1 million when I was 23, and over $10 million when I was 24, and over $100 million when I was 25, and it wasn’t that important. I never did it for the money.