It sounds counterintuitive to most of us, who’d dearly love a pay raise. But when Jobs returned to Apple as CEO in after a twelve-year absence, the company was really struggling. He preferred to take the million dollars he could have earned as salary and put it back into the company, investing in its future. Also, Jobs held lots of Apple shares, and knew that if he could make the company a success again, he’d be compensated by seeing their value rise dramatically. In the meantime, he had more than enough of his own savings and investments to keep the wolf from the door. What we can learn from Steve Jobs Now, it might seem hard to translate that into your own life.
Apple is worth twice as much as Disney and Bank of America together. It is truly a remarkable milestone that has only been achieved a handful of times in modern history. It’s especially remarkable when you consider that Apple was on the verge of bankruptcy in So by the power of simple math, his net worth today must have been roughly 4X what it was back in , right? Well, actually no. Believe it or not, at the time of his death, the majority of Steve Jobs net worth had noting to do with Apple at all. Jobs and Sculley got along well for about a minute. By , Steve had caused so much internal conflict and frustration that he was fired by the company’s board. He kept that last share only so he could continue receiving the company’s annual report. Amazingly, Jobs-less Apple actually surged in popularity and revenue for the next few years. Unfortunately, after a year of operating, Jobs was extremely low on funds and the company had no product to show for its efforts. Meanwhile, over at Apple the good times did not last. John Sculley was ousted in as the company failed to come up with fresh ideas and their old product sales had stalled to almost nothing. They were literally teetering on the verge of bankruptcy. The struggling company decided to make a big bet.
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Jobs is widely recognized as a pioneer of the personal computer revolution of the s and s, along with Apple co-founder Steve Wozniak. Jobs was born in San Francisco , California, and put up for adoption. He was raised in the San Francisco Bay Area. He attended Reed College in before dropping out that same year, and traveled through India in seeking enlightenment and studying Zen Buddhism. His declassified FBI report states that he used marijuana and LSD while he was in college, and once told a reporter that taking LSD was «one of the two or three most important things» he had done in his life. Together the duo gained fame and wealth a year later with the Apple II , one of the first highly successful mass-produced microcomputers.
Quick Facts
Steve Jobs ‘ vision of a «computer for the rest of us» sparked the PC revolution and made Apple an icon of American business. But somewhere along the way, Jobs’ vision got clouded — some say by his ego — and he was ousted from the company he helped found. Few will disagree that Jobs did indeed impede Apple’s growth, yet without him, the company lost its sense of direction and pioneering spirit. After nearly 10 years of plummeting sales, Apple turned to its visionary founder for help, and a little older and wiser Jobs engineered one of the most amazing turnarounds of the 20th century. The adopted son of a Mountain View, Calif. While in high school, he boldly called Hewlett-Packard co-founder and president William Hewlett to ask for parts for a school project. Impressed by Jobs, Hewlett not only gave him the parts, but also offered him a summer internship at Hewlett-Packard. It was there that Jobs met and befriended Steve Wozniak , a young engineer five years his senior with a penchant for tinkering. He had become fascinated by Eastern spiritualism and took a part-time job designing video games for Atari in order to finance a trip to India to study Eastern culture and religion. When Jobs returned to the U. To Wozniak, it was just a hobby, but the visionary Jobs grasped the marketing potential of such a device and convinced Wozniak to go into business with him. In , the year-old Jobs and Wozniak set up shop in Jobs’ parents’ garage, dubbed the venture Apple, and began working on the prototype of the Apple I. Although the Apple I sold mainly to hobbyists, it generated enough cash to enable Jobs and Wozniak to improve and refine their design. In , they introduced the Apple II — the first personal computer with color graphics and a keyboard. Designed for beginners the user-friendly Apple II was a tremendous success, ushering in the era of the personal computer. But by , Apple’s shine was starting to wear off. Faced with declining sales, Jobs introduced the Apple Macintosh in The first personal computer to feature a graphical-user interface controlled by a mouse, the Macintosh was a true breakthrough in terms of ease-of-use.
Steve Jobs explains how he started Apple Computer — MUST WATCH
Steven Paul Jobs was an American inventor, designer and entrepreneur who was the co-founder, chief executive and chairman of Apple Computer. Apple’s revolutionary products, which include the iPod, iPhone and iPad, are now seen as dictating the evolution of modern technology. Born in to two University of Wisconsin graduate students who gave him up for adoption, Jobs was smart but directionless, dropping out of college and experimenting with different pursuits before co-founding Apple with Steve Wozniak in Jobs left the company inlaunching Pixar Animation Studios, then returned to Apple more than a decade later. Jobs died in following a long battle with pancreatic cancer. The couple gave up their unnamed son for adoption. His mother, Schieble, worked as a speech therapist. It was not until Jobs was 27 that he was able to uncover information on his biological parents. Clara worked as an accountant and Paul was a Coast Guard veteran and machinist. Jobs was born on February 24,in San Francisco, California. He lived with his adoptive family in Mountain View, California, within the area that would later become known as Silicon Valley. As a boy, Jobs and his father worked on electronics in the family garage. Paul showed his son how to take apart and reconstruct electronics, a hobby that instilled confidence, tenacity and mechanical prowess in young Jobs. While Jobs was always an intelligent and innovative thinker, his youth was riddled with frustrations over formal schooling. Jobs was a prankster in elementary school due to boredom, and his fourth-grade teacher needed to bribe him to study. Jobs tested so well, however, that administrators wanted to skip him ahead to high school — a proposal that his parents declined. Lacking direction, he dropped out of college after six months and spent the next 18 months dropping in on creative classes at the school.
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