Codebreaker

Poor Ronald Wayne

Marc Sanchez Dec 14, 2011


He’s the guy who drew up the original Apple contract, which netted him 10% of Apple stock way back in 1976. Wayne quickly withdrew from the company and was paid a total of $2,300. You know the rest of the story: company’s profile goes up, stock goes bonkers, and everybody, even Mother, has an iPhone. Wayne kept the original contract, and auctioned it off in 1994. He made some cash, but nowhere near the billions his original shares would have been worth today.

Yesterday, Sotheby’s announced that the original contract went up for auction again. While it was expected to fetch around $150,000, it ended up going for a sweet $1.59 million.

Poor Ronald Wayne.

 

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.