Apple’s rise to tech dominance is often told through the lens of Steve Jobs’ visionary leadership, but one of the company’s most remarkable moments of generosity came from Steve Wozniak, the man who co-founded Apple alongside him. In December 1980, during one of the most pivotal moments in the company’s history, Wozniak made a decision that defied Silicon Valley norms—he gave away $10 million worth of his own stock to early Apple employees who had been left out of the company’s financial success.
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The Day Apple Went Public
On December 12, 1980, Apple made its stock market debut, launching shares at $22 each and instantly securing its place as one of the most valuable tech companies of its time. While executives and major investors were celebrating their newfound wealth, a different reality was unfolding for many of Apple’s early employees. Some of the company’s first team members—including those who had worked in Jobs’ famous garage—were left without any stock options, effectively cutting them out of Apple’s meteoric financial success.
One of the most striking examples was Daniel Kottke, Apple’s 12th employee and a longtime friend of Jobs. The two had traveled through India together, yet when it came time to distribute stock options, Jobs refused to give Kottke anything, even when other executives suggested matching his contributions with some shares.
Wozniak’s Decision: “I Didn’t Want to Be Surrounded by Money”
While Jobs remained firm in his stance, Wozniak saw things differently. He held four million Apple shares, worth around $116 million at the time—an astronomical sum. But instead of hoarding his wealth, he decided to share it.
“I didn’t want to be surrounded by money because it can corrupt your values,” Wozniak later explained. His philosophy was shaped by his time at Hewlett-Packard, where employees received profit-sharing bonuses each quarter, making them feel invested in the company’s success.
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His solution? Gift a portion of his stock to those early Apple employees who had been left out, ensuring they too would benefit from the company’s growth. It wasn’t just about generosity—it was about fairness and recognition.
A Rare Example in the Tech World
Today, Wozniak’s net worth is estimated at around $140 million—a relatively modest sum compared to the billions amassed by other tech founders. Had he held onto all of his Apple shares, his wealth would have been immeasurable. But for Wozniak, the choice was never about amassing fortune—it was about staying true to his values and ensuring that those who helped build Apple weren’t left behind.
His generosity didn’t stop with Apple employees. Wozniak also shared his wealth with high school friends who had encouraged him during his early days in computing, recognizing their role in shaping his path.
In an industry where success often leads to self-preservation and hoarding of wealth, Steve Wozniak’s actions stand out as a rare example of true generosity and loyalty. His decision to give rather than take is a reminder that, even in the fast-paced world of tech, human connections and fairness should never be overlooked.