Steve Jobs Sells VW to Fund Apple's First Computer, Becomes Millionaire by 23

Shares fell in the tech industry as news emerged that Steve Jobs, co-founder of Apple, sold his Volkswagen bus to raise $1,300 for the development of the company's first computer, the Apple I. This pivotal move, made in his early twenties, would ultimately contribute to Jobs' rapid rise to wealth and fame. By the age of 23, Jobs had become a millionaire, with his net worth exceeding $1 million. According to sources, Jobs' decision to sell his Volkswagen bus was motivated by his desire to bring his vision of a home computer to life. He was joined in this endeavor by fellow co-founder Steve Wozniak, who contributed money earned from selling his programmable calculator. The duo's combined efforts enabled them to secure the necessary funds to develop the Apple I, which was launched on April 1, 1976. The computer's success was swift, with a local computer dealer placing a $50,000 order for 100 units shortly after its release. The Apple I's popularity was largely driven by hobby enthusiasts, who were eager to get their hands on the innovative device. However, it was the Apple II, launched in 1977, that truly revolutionized the personal computer market. This device featured a keyboard and color graphics, making it the first personal computer to include these features. The Apple II's success was staggering, with nearly 3 million units sold in its first year alone. In a 1996 interview with PBS, Jobs reflected on his rapid rise to wealth and fame, stating, "I was worth about over $1 million when I was 23, and over $10 million when I was 24, and over $100 million when I was 25... And it wasn't that important, because I never did it for the money." This sentiment speaks to Jobs' passion for innovation and his commitment to changing the world through technology. The impact of Jobs' vision and perseverance cannot be overstated. The Apple II's success paved the way for the development of future personal computers, and its influence can still be seen in the devices we use today. As the tech industry continues to evolve, the legacy of Steve Jobs and the Apple I serves as a reminder of the power of innovation and determination. Today, Apple remains one of the world's leading technology companies, with a market value exceeding $2 trillion. The company's commitment to innovation and design continues to drive its success, and its products remain a testament to the vision and perseverance of its co-founder, Steve Jobs.