Saturday, August 27, 2011

Third Apple co-founder sold 10% stake to avoid paper pushing, risk

Ron Wayne, the Apple co-founder who sold his 10 percent stake in Apple for just $2,300, said in an interview this week that he backed out of the company because he feared his role would involve shuffling papers for the rest of his life.

In an interview with Bloomberg Television earlier this week, Wayne and another Apple co-founder Steve Wozniak discussed the early days of the company.

According to the interview, Steve Jobs brought Wayne on as a "trustable person." He was given a 10 percent stake to serve as a mediator for Jobs and Wozniak, who each held 45 percent.

read on and WATCH VIDEO HERE

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