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Apple contract Jobs signed sells for £1 million

A simple three page contract that Steve Jobs signed, establishing Apple Computer sold for $1.59 million (£1 million) at a Sotheby’s auction in New York today. The auction was estimated to generate around $100,000.

According to a report on Bloomberg Businessweek, the bidding started at $70,000 in a room of only 20 people. Six telephone and online bidders competed for the contract, which finally went to Eduardo Cisneros,  the chief executive officer of Cisneros Corporation.

Ron Wayne (right) with Steve Wozniak (centre). Wayne's part ownership of Apple would have been worth $36 billion today

The original contract, signed by Steve Jobs was issued on April 1st 1976. It was also signed by Steve Wozniak and Ronald Wayne. It was owned by Wayne, who met Jobs while working for Atari Inc. Wozniak at the time was working with Hewlett Packard and he was asked by Jobs to persuade Wayne to join Apple. Wayne had a 10 percent stake in the company at the time.

As the history books document, Wayne withdrew as a partner in the space of only 11 days, receiving only $800 for his 10 percent ownership of Apple. Later he received an additional payment of $1,500. If Wayne had held onto his part ownership, it would have been worth $36 billion.

Kitguru says: Who wouldn’t like to own 10 percent of Apple today?

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