So Apple Inc is one of the biggest tech companies in the world, and it has quite a very interesting history, from its products, to the people that made it what it is today. So today, lets take a look at some of the very interesting facts, that you might not know about this Cupertino company.
1. The Worst Investment Decision Ever
Now in case you don’t know, Apple once had three co-founders, which are Steve Jobs, Steve Wozniak, and the third person that not a lot of people know about, is Ronald Wayne. So twelve days after Apple was founded, Wayne left the company and sold his share which was 10% back to Steve Jobs and Steve Wozniak for just $800. Now the most crushing part is, if he had stayed and stuck with the company, his share would now be worth nearly a $10 Billion. Tragic.
2. Apple Has Twice As Much Cash As The US Treasury
Yes Apple has twice as much cash as the United States treasury. To be fair, Microsoft also has more cash on hand than the US treasury, but you know, the government can just print more money when they need it. So its not really a big deal, but still a fun fact you know.
3. Steve Jobs Was Basically Fired From Apple In 1985
Now one question that should be going through your mind right now is “How can someone who is the founder of a company get fired?“.. Well, the thing is, once a company goes public, the key decisions are being made by a group of persons known as the “Board of Directors” (BOD). And these Board of Directors are appointed by the founder of the company, or based on the shares. If four out of seven of the board of directors decides to fire the founder of that same company, which they can, and that was what happened with Steve Jobs.
Basically he wasn’t fired though, what happened was, in 1983, Steve Jobs recruited the then Pepsi-Cola executive, John Sculley, to run Apple. But Sculley and Jobs visions for the company greatly deferred. In 1985, Sculley proposed a plan to the board of directors, to remove Steve Jobs from the Macintosh group, and put him in charge of new product development. This move would defectively render Steve Jobs powerless within Apple. Obviously Steve tried to fight back, and made a plan to remove Sculley from Apple. This plan got leaked and Steve had to leave Apple.
4. Apple Brought Back Steve Jobs for $427m
After leaving Apple, Steve Jobs built a new company called “NeXT“. In 1996,eleven years after Steve left, Apple bought his company for $429m, and thus bringing back Steve Jobs. The NeXT operating system then became “Mac OS X“, and the company moved back to profits again. But Steve was only appointed as the CEO again in the year 2000. Until then, he used the title Interim CEO, and he used to joke about it, and used to call himself as ICEO.
Well if course, that being said, i’m thinking of making a second part of this article, so let me know your thoughts in the comments section below, subscribe to our free newsletter if you haven’t done so, keep sharing this article, and as always, I’ll see you all tomorrow.. #Peace Out