HOW #RONALD #WAYNE LOST $100 BILLION
…The Biggest Financial Mistake in Human History…
Usually, when we eat an apple and find it sour, we often throw it into the thrash can. That was the story of Ronald Wayne, the man who abandoned Apple Computers 42 years ago. He took a bite and abandoned the apple. That “bite” today, is valued at over $100 Billion. Wayne is 84 today and lives in the United States.
On April 1, 1976, two boys and one man met in a garage to start what would go on to become the most valuable company in human history – The Apple Computers (now Apple Inc.)
Two Steves, (Jobs, 27 and Wozniak, 25) and one Ronald, 42. Jobs was the man at the helm and he was a burst of ambitious energy. You were either working or working.
Less than two weeks from the day of the opening at the garage, Ronald Wayne had sold his 10% stake of the company back to Jobs and Wozniak for $800 on April 12, 1976.
He could not endure the compulsory pace at which Jobs set every activity. In fact, within the first two weeks of operation, there was no day of break and everyone had a maximum of 4 hours to rest and 20 hours on the desk and no visit was allowed.
That was 42 years ago. Steve Jobs has even died, but he left mavericks behind at Apple Inc he co-founded.
In November 2017, the Apple company Ronald Wayne abandoned was valued at $850 Billion and economic projections had it that in 5 years time it could be worth $1 Trillion in market capitalization.
That would be magical and even phenomenal everyone thought. But the mavericks at Apple Inc. had a different plan altogether. Just 9 months later, 4 years before the predicted time, on Thursday 2nd August 2018, the Apple Inc. hit the $1 Trillion mark on the stock market. The first company to ever reach the mark.
Just like the marathon, once medically considered an impossible reach, until the first man dared the limits and did the once impossible. Today, running a marathon has become a norm, so normal that even overweight individuals and even geriatrics have attempted it with many succeeding. Now that the Apple Inc. has crossed the impossible border mark and in less than 5 years, more than 20 companies would have crossed that same border.
But that’s by the way. At 84 today, Ronald Wayne could have held on to his 10% of the Apple Inc stake and would have been worth a staggering $100 Billion. A value that would have ranked him as the world’s second richest individual, even two steps ahead of the Sage of Omaha, Warren Buffet, the all time wizard of investment. But Wayne could not wait it out, he took $800 and left billions that could have lasted generations and given him platform to do even much more.
Another time, in another post, I will tell us how Steve Jobs was able to turn an incomplete Apple into a global phenomenon.
Today the Apple logo (an apple with a bite that represents a 10% of abandoned stake) reminds us of the power of endurance, stamina, foresight and commitment to our days of little beginning.
It teaches us that young people in Africa has all it takes to make the difference which Africa heavily needs and yearns for.
It reminds us that Wayne’s age at 42 was not wiser than the zeal of the two Steves in their 20s. Older and more established people in Africa must not give up on young people and their young ideas. Wayne may have left when from his “expert” analysis he easily concluded in just two weeks of working at Apple that the company was bound to fail.
Impossibility is nothing
That is what I say to myself everyday. I would look the mirror and say to myself daily
“I am OVO, and all things are possible!”
That’s my personal motivation mantra.
What’s your Personal Motivation Mantra ? #PMM?