Steve Jobs Sells VW to Fuel Apple's Birth: $1,300 Seeds a $1 Billion Legacy

Shares fell significantly for Steve Jobs and Steve Wozniak, the co-founders of Apple, in their early twenties as they struggled to raise funds for their first computer project. The duo managed to scrape together $1,300 by selling Jobs' Volkswagen bus and Wozniak's programmable calculator, which was used to pay for the prototypes' parts. This crucial investment ultimately led to the creation of the Apple I, the company's first computer, which was launched on April 1, 1976. The Apple I was a groundbreaking device that primarily appealed to hobbyists and enthusiasts, with a local computer dealer placing a significant order for 100 units shortly after its launch. The success of the Apple I paved the way for the development of the Apple II, a personal computer that included a keyboard and color graphics, which debuted in 1977 and went on to generate nearly $3 million in revenue within a year. By the time Jobs was 23 years old, he had become a millionaire, and his net worth continued to soar, reaching over $10 million by the age of 24 and over $100 million by the age of 25, as he recalled in a 1996 interview with PBS. According to Jobs, the financial success of Apple was not the primary motivator for his entrepreneurial endeavors. "I never did it for the money," he stated. The Apple I and Apple II computers played a pivotal role in shaping the personal computer industry, which has since become a ubiquitous aspect of modern life. The success of these early devices can be attributed to the innovative designs and user-friendly interfaces that Wozniak and Jobs implemented, making computing accessible to a broader audience. The Apple I and Apple II computers also marked the beginning of Apple's journey as a leader in the tech industry. The company's focus on innovation and design has continued to shape the industry, with Apple's products, such as the Macintosh computer and the iPod, iPhone, and iPad, becoming household names. Today, Apple is one of the world's most valuable companies, with a market capitalization of over $2 trillion. As the tech industry continues to evolve, Apple remains at the forefront, pushing the boundaries of innovation and design. With its commitment to creating user-friendly and intuitive products, Apple has cemented its position as a leader in the industry, and its legacy continues to inspire new generations of entrepreneurs and innovators.