Apple went public on December 12, 1980. I bet almost no one reading this was either born yet or was no more than about 10 or 12 years old. In short, we were all too young to take advantage of that fortuitous date in history, buy shares, and be reaping the roughly 40,000% increase today. A relatively small investment of $10,000 back in 1980 (which is equivalent to more than $31k today), you'd have $3.95 million worth of Apple stock. Not bad by a long shot – it would buy you a gorgeous house with a pool in a good neighborhood of Los Angeles today – but it’s not anywhere near what early Apple employee Mike Markkula is worth today. Most people have never heard of Markkula, but the fact is, without him, I would not be writing this article on a MacBook Pro or calling my friends from my iPhone 11, or reading on my iPad. Markkula was as critical to the early success of Apple as Steve Jobs and Steve Wozniak.
Mike Markkula was born on February 11, 1942, in Los Angeles. He graduated from the University of Southern California with a bachelor’s degree and master’s degree in electrical engineering. He worked for Fairchild Semiconductor and Intel, where he had stock options that allowed him to retire in 1974 as a millionaire at the age of 32. He was introduced to the Steves – Jobs and Wozniak – when they were looking for funding to produce the Apple II computer they had designed. Markkula had a deep understanding of technology and imagined the possibility of personal computers years earlier. He was intrigued by Jobs and Wozniak. When they showed him the Apple II, in a 1992 interview, Markkula said: “I looked at it, and I said this is the first affordable useful computer for people.”
Jobs and Wozniak not only had no money, but they also had no actual business experience. Markkula helped them write a business plan. As the three went through that process, he quickly realized they had a potential Fortune 500 company on their hands. He believed they could achieve that in about five years. Markkula came out of retirement and got to work getting Apple organized as a proper company. He also decided early on that Apple would not be bringing in outside capital.
| Personal Details | Information |
|---|---|
| Name | Mike Markkula |
| Date of Birth | February 11, 1942 |
| Education | Bachelor's and Master's in Electrical Engineering from USC |
| Net Worth | $1.2 Billion |
Table of Contents
- Biography of Mike Markkula
- Markkula's Journey with Apple
- Impact on Apple’s Success
- Retirement and Legacy
Biography of Mike Markkula
Mike Markkula is known as one of the key figures in Apple's history. As a businessman and engineer, he contributed significantly to shaping the company during its formative years. His early exposure to technology and business made him a perfect fit for the challenges Apple faced. His exceptional insight allowed him to recognize the potential in Apple's products, particularly in the early personal computer market.
Markkula's Journey with Apple
After coming out of retirement in 1977, Markkula became an angel investor in Apple, contributing a total of $250,000. This infusion of cash allowed the company to grow from a small startup to a recognizable brand. He became employee number three and a one-third owner of the company, which was instrumental in its early success. Markkula's support played a vital role in Apple's transition from a small business to a potential Fortune 500 company.
Impact on Apple’s Success
Markkula's expertise in business helped Apple secure vital credit and venture capital investments. He brought in executive Michael Scott as the company’s first president and CEO. During his time as chairman, Markkula kept the Macintosh plan alive, believing in its potential even when Jobs wanted to abandon it. His role as a mediator provided essential guidance that helped navigate conflicts within the company and maintain focus on innovation.
Retirement and Legacy
After retiring from Apple in 1997, Markkula left behind a legacy of innovation and business acumen. His contributions helped lay the foundation for Apple's continued success in the tech industry. Today, Mike Markkula is 78 years old and has a net worth of $1.2 billion, a testament to his early vision and commitment to Apple.
