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42 years ago today, Steve Jobs became a millionaire. He did it in less than eight hours

Steve Jobs’s great fortune is often talked about. Fortune that can be seen reflected in the superyacht that he owned or that allowed him to drive without a license plate, for example. And this that at Apple charged… nothing more than a dollar a year. But, How did Steve Jobs become a millionaire?

Disney stocks maybe? You are right. And no. There was a specific moment in time when Steve Jobs became a millionaire. It was exactly 42 years ago and he did it in less than eight hours., nothing less. An important day, without a doubt. Let’s go over it.

Millionaire in a few minutes, in fact

The expectation was in the air. Apple’s IPO (public takeover offer) had been in the media for a long time and attracted the attention of both professionals and the curious. At the time, the Wall Street Journal was publishing no less than “Apple hasn’t been so tempting since Eva’s time”. Similarly, a Merrill Lynch analyst claimed that while his brother “only invested in the stock market on Tuesdays in leap years,” he had called asking about a company that was attracting attention in Cupertino.

The truth is that the expectation was justified. Apple’s was the largest IPO since Ford Motor Company’s in 1956, the year Steve Jobs was born.. At the time, Apple was expected to launch its shares at $14 each, yet it was decided, almost at the last minute, to launch at $22. They were all sold in just a few minutes.

The Cupertino company closed that day on the stock market with a value of 29 dollars and having positioned itself with a market cap of $1.778 billion. A staggering 4.6 million shares valued (initially) at $22 that made 40 of Apple’s 1,000 employees millionaires in just one day’s work.

217 million dollars of heritage

The atmosphere at Apple was one of total celebration. Yes ok Steve Jobs had amassed no less than 217 million dollars, he was not the only one. The company’s then CEO, Mike Scott, received $95.5 million, while Mike Markkula, one of the company’s early investors, received $203 million. Steve Wozniak received 116 million.

Champagne flowed through the offices as some employees hung a large prop thermometer in the Apple offices to mark how hot the market was with the company’s entry. The news was great, although it had a nuance.

The money from the newly purchased shares could not be converted into cash. Some employees say that, although they now had a great fortune, his state of mind was directly tied to the Dow Jones. At least until a year had passed, when they began to be able to sell some of the shares to receive the liquidity that had to bring them stability.

Tim Cook earns 3 million times more than Steve Jobs.  Although the figure has a trick


From then on, the Cupertino company began to reward some of the employees with shares, something that it continues to do today and that allowed some employees to amass large amounts of money. Although Tim Cook affirms that he does not watch the stock market on a daily basis, since he runs Apple thinking in the long term, his actions continue to attract the attention of many and generate headlines. Quarter after quarter, Apple breaks records, and it all started the day that, in just a few hours, the company became much more than a millionaire.

In Applesphere | Tim Cook earns 3 million times more than Steve Jobs. Although the figure has a trick

Via | cultofmac

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Apple explains why only USB-C AirPods Pro support lossless audio with Vision Pro

Apple is today marketing a revision of the AirPods Pro which has the particularity of having a USB-C port on the charging case. But that’s not the only change: the headphones also support lossless audio with the Apple Vision Pro headset.

Why can’t the second generation AirPods Pro with the Lightning Charging Case also support lossless audio with the Vision Pro? Brian Tong did an interview with two Apple executives to get the answer. Ron Huang, Apple’s vice president of sensors and connectivity, gives the answer.

Ron Huang says the H2 chip in AirPods Pro with the USB-C port supports the 5GHz wireless frequency band for ultra-low latency and less interference, while the H2 chip in AirPods Pro with the Lightning port is limited to the 2.4 GHz band. Apple says it’s this support for the 5GHz band that allows the updated AirPods Pro to support lossless audio with the Vision Pro.

The Apple Vision Pro headset will be available in early 2024, first in the United States. The price will be $3,499. Apple has already planned marketing in other countries, but this will happen later at a price that is currently unknown in euros.

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Supermodels: the documentary on the star models of the 80s and 90s is available on Apple TV+

The docuseries The Supermodels is available in its entirety (i.e. 4 episodes) on the subscription platform Apple TV+. As the title indicates, this documentary directed by Barbara Kopple focuses on the rise of what we called in the 80s and 90s the “supermodels”, that is to say star models to whom nothing seemed resist, women often adored as film actresses. Naomi Campbell, Cindy Crawford, Linda Evangelista, Christy Turlington and a few others were truly fashion icons of that era, a golden period that the Apple TV+ series retraces in 4 major chapters, The Look, The Celebrity, The Power and The Legacy.

The docuseries The Supermodels will also offer its large batch of sequences and unpublished documents, as well as of course interviews with the main interested parties. It will not only be about the glorious past since the series will also look at the current activities of these ex-fashion stars, “their activism, philanthropy and business prowess”. And of course, US production obliges, a documentary on famous women could not miss the mark of “empowerment”: “As the fashion industry continues to redefine itself, this is the ultimate story of power and how four women came together to reclaim it, paving the way for those who would follow.” » An entire program…

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It would (already) be a hit for the iPhone 15 Pro Max, and a small disappointment for the iPhone 15 Pro

After just a few days of pre-orders, the lively Ming Chi Kuo can already give the main trends in iPhone sales for the current and coming quarter. For the analyst, there are no doubts: the new iPhone 15/15 Pro range is a huge success, and Apple should distribute 80 million copies until the end of the year compared to 76 million for the iPhone 14/14 Pro range. Surprisingly, the 15 Pro Max model is popular with buyers, and Kuo estimates that Apple will sell 35 million of this model (Q3 and Q4), or 7 million more 15 Pro Max compared to sales of the 14 Pro. Max over the same period.

iPhone 15 Pro Official Color Front Back

On the other hand, sales would be a little below expectations for the two most “standard” models, namely the iPhone 15 and the iPhone 15 Pro. Kuo does not give figures, but specifies that without a drop in prices (via occasional promotions for example), the volume of these sales should not change much in a few months. The surprise is undoubtedly on the side of the iPhone 15 Plus, which would sell beyond the stock capacities initially planned by Apple. The factories will have to operate more vigorously…

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