Humble Beginnings
Steve Jobs was adopted at birth by Paul and Clara Jobs, a lower-middle class couple. His father Paul was a machinist and car mechanic while his mother was an accountant.
Learning Business Young
Growing up, Jobs worked at a young age, mainly taking on small jobs like mowing lawns for extra money. In high school, he called up William Hewlett, the President of HP, asking for parts to complete a frequency counter he was building. Impressed, Hewlett offered him a summer internship at his company. This taught Jobs the fundamentals of business and piqued his interest further.
Dropping Out But Going Forward
Leaving College Behind
In 1972, Jobs enrolled at Reed College but dropped out after the first semester. He was disillusioned by the required courses unrelated to his interests. Jobs remained around campus for a year and a half to audit creative classes that interested him including calligraphy. This informal education would shape the aesthetics behind Apple’s products later.
Learning From Atari
In 1974, Jobs worked at video game maker Atari where he helped create circuit board designs. When offered $100 for each chip less in the board, Jobs made a deal with Wozniak to split the funds if he could minimize the number of chips. This drive for innovation and profit would underpin Apple.
Apple’s Garage Beginning
Home Operation
At 20, Steve Jobs began working out of his parents’ garage with friend Steve Wozniak in 1976 to start making the first Apple I computers by hand. They funded their entrepreneurial efforts by selling Jobs’ Volkswagen bus and Wozniak’s programmable calculator. Their goal was bringing personal computing to the masses.
Success Overnight
They managed to sell 175 Apple I computers before the release of Apple II, priced at $666 each. The Apple II was a major success eventually selling over 6 million units across the world. Practically overnight, Jobs and Wozniak kickstarted the personal computer revolution from their humble garage.
Millionaire by 25
IPO Riches
In 1980, Apple conducted an IPO and overnight Steve Jobs became a millionaire – he was only 25. Apple’s shares increased by 32% on the first day giving the company a market valuation of $1.778 billion. Jobs’ personal shares were valued at over $200 million.
Investing Wisely
Now a millionaire, Jobs invested money into Pixar Animation Studios that would later release blockbusters like Toy Story, eventually earning him over $7 billion when Pixar was sold to Disney. He also started his own computer company NeXT after leaving Apple. This diversified portfolio would create his vast fortune.
Returning to Apple
Troubled Times
After Jobs left in 1985, Apple slid downhill with missed deadlines and increasing expenses. By 1996, the company lost over $1 billion and seemed doomed for bankruptcy.
The Second Coming
In 1997, Apple announced it was acquiring NeXT for $400 million and Jobs would be returning to lead the company he founded. People wondered if Jobs could save Apple given the market dominance of Microsoft.
Historic Turnaround
But in a stunning move, Jobs made key changes in operations and introduced the revolutionary iMac in 1998. He drove Apple to make innovative products like the iPod and iPhone that created entirely new markets. By propelling Apple to be the most valuable company on earth, Jobs engineered one of the greatest turnarounds in business history.
Steve Jobs’ journey from humble garage entrepreneur to billionaire business magnate is an inspiration for countless individuals seeking their own financial success. His unique path shows how persistence, innovation, and a willingness to think differently can pay off enormously with enough passion. While facing adversities along his entrepreneurial path, Jobs kept going forward driven by his intense vision & creativity to shape the world of technology forever.
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