Apple founding contract fetches $1.5 mln at auction
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The contract that established Apple (AAPL.O) as a corporate entity in 1976 sold at auction on Tuesday for $1.59 million, 10 times its estimated price, two months after the death of high-profile co-founder Steve Jobs. The contract, sold with another document that removed one of the company's initial three partners after just 11 days, was the subject of fierce bidding by six people taking part in the auction over the telephone and online, Sotheby's said.  Sold, for $1.5 Million, and it's just a piece of paper
But within days, Wayne had decided not be become involved with the fledgling technology company. Wayne was paid $800, and later another $1,500, and was released from the contract. His 10 percent share would today be worth $2 billion. Wayne sold the documents to a private collector in 1994. Jobs left Apple in 1984 following a power struggle with the company's board of directors but returned to the company in 1996. He would become the central figure in transforming Apple into one of the world's largest and most envied companies.
Reuters |
Tags: Apple founding contract , Apple Inc , Apple founding contract auction , Steve Jobs , Steve Wozniak , Ronald Wayne , Apple Contract
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