A piece of paper that started, what is now, one of the most influential companies in the tech industry will be auctioned off on December 13 by Sothebys. According to them, this 35-year old contract is predicted to fetch anywhere from $100,000 to $150,000. This will be a part of a larger sale, which includes rare books and manuscripts.
From humble beginnings
The document, dated April 1, 1976 was signed by co-founders Steve Jobs, Steve Wozniak and Ronald Wayne, who helped draft the contract. Wayne was offered 10 percent share in the company, while the remaining 90 percent was evenly distributed between the other two members. Wayne was actually recruited by Jobs to convince Wozniak to get onboard and start the partnership. Within a few days though, Wayne backed out form the deal and was paid $800 and later $1,500 and was released from the contract. Had he stayed true to the contract, Wayne’s 10 percent share would have been worth roughly $3.5 billion in today’s market. Apple did not comment on whether they would be be biding on the document.
Published Date: Dec 09, 2011 10:47 am | Updated Date: Dec 09, 2011 10:47 am