Steven Paul Jobs was an American inventor, designer and entrepreneur who was the co-founder, chief executive and chairman of Apple Computer. Apple's revolutionary products, which include the iPod, iPhone and iPad, are now seen as dictating the evolution of modern technology. Born in 1955 to two University of Wisconsin graduate students who gave him up for adoption, Jobs was smart but directionless, dropping out of college and experimenting with different pursuits before co-founding Apple with Steve Wozniak in 1976. Jobs left the company in 1985, launching Pixar Animation Studios, then returned to Apple more than a decade later. Jobs died in 2011 following a long battle with pancreatic cancer.
In 2011, Forbes estimated the majority of Steve Jobs’ net worth at around $6.5 billion to $7 billion from his sale of Pixar to the Walt Disney Company in 2006. However if Jobs had not sold his Apple shares in 1985, when he left the company he founded for over a decade, his net worth would have been a staggering $36 billion.
Steve Jobs died in Palo Alto on October 5, 2011, after battling pancreatic cancer for nearly a decade. He was 56 years old.
While Jobs was always an intelligent and innovative thinker, his youth was riddled with frustrations over formal schooling. Jobs was a prankster in elementary school due to boredom, and his fourth-grade teacher needed to bribe him to study. Jobs tested so well, however, that administrators wanted to skip him ahead to high school — a proposal that his parents declined.
After high school, Jobs enrolled at Reed College in Portland, Oregon. Lacking direction, he dropped out of college after six months and spent the next 18 months dropping in on creative classes at the school. Jobs later recounted how one course in calligraphy developed his love of typography.
In 1974, Jobs took a position as a video game designer with Atari. Several months later he left the company to find spiritual enlightenment in India, traveling further and experimenting with psychedelic drugs.
In 1976, when Jobs was just 21, he and Steve Wozniak started Apple Computer in the Jobs’ family garage. They funded their entrepreneurial venture by Jobs selling his Volkswagen bus and Wozniak selling his beloved scientific calculator. Jobs and Wozniak are credited with revolutionizing the computer industry with Apple by democratizing the technology and making machines smaller, cheaper, intuitive and accessible to everyday consumers
Wozniak conceived of a series of user-friendly personal computers, and — with Jobs in charge of marketing — Apple initially marketed the computers for $666.66 each. The Apple I earned the corporation around $774,000. Three years after the release of Apple's second model, the Apple II, the company's sales increased by 700 percent to $139 million.
In 1980, Apple Computer became a publicly traded company, with a market value of $1.2 billion by the end of its very first day of trading. Jobs looked to marketing expert John Sculley of Pepsi-Cola to take over the role of CEO for Apple.
The next several products from Apple suffered significant design flaws, however, resulting in recalls and consumer disappointment. IBM suddenly surpassed Apple in sales, and Apple had to compete with an IBM/PC-dominated business world.
In 1984, Apple released the Macintosh, marketing the computer as a piece of a counterculture lifestyle: romantic, youthful, creative. But despite positive sales and performance superior to IBM's PCs, the Macintosh was still not IBM-compatible. Sculley believed Jobs was hurting Apple, and the company's executives began to phase him out. Not actually having had an official title with the company he co-founded, Jobs was pushed into a more marginalized position and thus left Apple in 1985.
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