Before Apple Computer held its initial public offering (or IPO) in 1980, Steve Jobs played a bit of a dickish move.
Jobs decided not to grant stock options to a few of the earliest Apple employee’s – such as Daniel Kottke, Chris Espinosa and Bill Fernandez.
As a result, these men who helped found a soon to be billion dollar company were to make no money from the upcoming IPO, which would be the biggest since Ford Motor’s in 1956.
Here’s what Wozniak did.
Wozniak sold some of his own shares to his friends (at very low prices) because he thought Jobs was being an unfair anal cavity.
So at the end of it, Wozniak was left with fewer shares than Jobs and so made less money than Jobs after the IPO.
Steve Jobs eventually went on to invest very wisely in Pixar Animation Studios, which made him a healthy $1B when Pixar held its very own IPO.
He founded his own computer company, after leaving Apple in 1985, which was called ‘NeXT’.
When Steve Jobs finally returned to Apple, he eventually got a megagrant of stock which made him another twenty or thirty million USD.
So it was out of both Wozniak’s generosity and Jobs’s own investments that put Jobs valued at about $8 Billion, whereas Steve Wozniak’s net worth is estimated to be somewhere around US$100 million today.
Wozniak is still richer than most, and his hobbies involve riding on Segways.