Steve Jobs is known as one of the greatest entrepreneurs of all times and the guy who is linked with success of Apple. The road to greatness started on February 24, 1955 when Steven Paul Jobs was born in San Francisco, California. His unwed biological parents had given him up for adoption.
He was later adopted by Paul & Clara Jobs. Both of them were middleclass and moved to Mountain View.
The Silicon Valley
In early 50s, a lot of semiconductor companies were starting their businesses towards the south of Bay Area. This area was becoming to get known as Silicon Valley and Steve Jobs was growing up in a neighborhood of engineering, business and hub of electronics.
At age 13, he met Steve Wozniak who was an inspirational techie as well a habitual prankster.
Steve wanted to study at Reed College. Despite heavy tuition fees, his foster parents fulfilled the promise with his biological parents of sending Steve to college. However, Steve dropped after one semester.
He started looking for job and got a job at young gaming studio, Atari. With his trip, he made a voyage to India. When he came back, he started taking interest in Wozniak’s activities.
Work of Wozniak
Wozniak was busy in attending meetings of group called Homebrew Computer Club. These were amateurs who showed off and discussed ideas of computer making.
Steve Jobs quickly realized a market. He convinced Wozniak to start a company and start making own computers. In this way, they could be sold to companies who wanted to write software without the hassle of establishing a computer kit.
On 1st April, 1976 Apple came into being.
Growth of Apple
The later days of both individuals were spent in Job’s garrison where they built computers and sold it to independent computer dealers.
Wozniak also started working on Apple II, which could support color graphics. With tech at their hand, Jobs started looking for venture capitalists. He convinced former Intel executive, Mike Markkula, to invest $250,000 in Apple. Mike had a belief that in next two years, Apple could make a spot in Fortune 500 in next two years.
Success of Apple II
Being easy to use and coming with interesting features, Apple II became a success. The sole sales of Apple II made the founding members millionaires.
Apple observed the largest increase in sales with the formation of software VisiCalc, which could make business calculations.
Investors decided it was time to take the company public. In December 1980, IPO took place and Steve Jobs net worth increased to $200 million at age 25.
Apple went on to introduce Lisa, Macintosh and iPod, making it the most profitable American company.
Cancer and death
In 2003, Jobs was diagnosed with rare type of pancreatic cancer. As opposed to doctor’s advice for surgery, he opted for alternative diets. In his famous speech of 2005, at Stanford, he declared that he had beaten cancer.
Yet in 2008, people observed his thin shape and in 2011, he started taking a medical leave. He died on
5th October, 2011 because of a respiratory arrest tumor linkage.
At $400 share price, his wealth before death would have been $31.6 billion.