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The gambling man who co-founded Apple and left for $800

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posted on Jun, 24 2010 @ 01:24 PM

Ron Wayne is usually just another gambler at the Nugget Hotel & Casino in Nevada. He comes here a couple of days a week to try his luck on the video poker machine. But on this trip, he drew some curious onlookers, as he was escorted by a CNN camera crew. A gift-shop worker asked him if he's famous.

"Well, I'm one of the founders of Apple Computer," Wayne responded.


The irony of being inside a casino is not lost on Wayne. After all, if his short-lived career at Apple had gone differently, he would be holding a different kind of winnings: 10 percent of Apple's stock.

Today, that stock would be worth $22 billion.

Wayne left Apple for only $800.

Wayne's tenure at Apple began on April 1, 1976. His name is signed on the legal document that established Apple -- next to those of Steve Jobs and Steve Wozniak, the Silicon Valley giants most people associate with the popular tech company, which makes the iPhone and iPad.

But Wayne had early misgivings. He had been unsuccessful in starting a slot-machine manufacturing business. He racked up thousands of dollars in debt.

With Apple, he was concerned history would repeat itself.

"I could see myself getting into this situation again, and I was really getting too old for that kind of thing," Wayne said, noting that his partners at Apple were 20 years younger than he was.

"The way these guys were going, they were going to bulldoze through anything to make this company succeed. But it was going to be very rough ride, and if I wasn't careful, I was going to be the richest man in the cemetery."

Eleven days after Apple was formed, Wayne removed himself from the company charter. He eventually was given $800 for his stake in Apple, and he let go of that valuable Apple stock, which has exploded in value since.

I found that story very interesting, I never knew this guy existed.

posted on Jun, 24 2010 @ 05:03 PM
I can only imagine the mind job. But, there is nothing to say Apple would of succeeded or he would of kept the stock.

There are lots of stories like this. Like a former member of Rolling Stones before they were famous, who is now a janitor sweeping up a stadium after one of their concerts.

But who is to say if he stayed in the band they would of become famous?

Same thing. There may only be success becuase the variables happened like they did.

posted on Jun, 30 2010 @ 01:20 AM
Poor guy, that's a bad beat on himself by himself.

Thanks for reminding me about this guy, I had forgotten about him and his story. I read about Mr Wayne in some random poker book or a Malcolm Gladwell book awhile back, I cant remember which one it was. I believe the book brought up the question, if it wasn't for his failed attempt in the slot machine business, would he of let it ride on Apple?

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