78 Percent of Steve Jobs’ Wealth Came From Disney, Not Apple
Reported by Ryan Brennan
However, there was actually a third founder of Apple, Ronald Wayne. According to Celebrity Net Worth, Wayne provided 100 percent of the company’s early funding.
It was also reported that Wayne was given 10 percent equity in the business for his services. With it, he made one of the worst business decisions in history. Twelve days after Wayne co-founded Apple, he reportedly sold his 10 percent stake to both Jobs and Wozniak. In return, he gained a very small amount of $2,300. Had he kept that stake until today, it would be worth a whopping $73 billion. That means a one percent stake in the company would be worth $7.3 billion.
Ever since this news hit the public, a strange question has been brought up. If a one percent stake gets you $7.3 billion, why was Steve Jobs only worth around $10 billion at his time of death? It was assumed that Steve Jobs had a massive stake in the company, so why wasn’t he worth several hundred billion dollars? To make this all the more strange, it was also said that the majority of his net worth didn’t come from Apple at all.
At the time of his death, Jobs was worth $10.2 billion. Of his net worth, around $8 billion came from Disney. In 2006, Disney decided to buy Job’s company, Pixar, for $7.4 billion in Disney stock. He received 138 million shares of Disney, which had a market value of $3.7 billion at the time.
As for Apple, he only made around $2 billion from the company. Up until 1997, Jobs had no shares in the company. He was named interim CEO in that year and fluctuated back and forth because he didn’t know how much he wanted to be involved. Once he made his decision to stay, he demanded that he finally get paid. Apple then rewarded Jobs with 5.5 million shares of Apple.
After doing the math, Disney accounted for the majority of Jobs’ net worth. To be exact, it covered a massive 78 percent of his net worth. With all that Jobs has done for Apple and the world of technology, one would think that he would be rewarded with more than that.