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Steven Jobs: Seeding a New Apple?
(FORTUNE Magazine) – Responding to slow sales of the Macintosh and to pressure from the board, Apple Computer Chief Executive John Sculley stripped chairman and co-founder Steven Jobs of all operating authority -- leaving many to wonder what Jobs would do next (FORTUNE, August 5). What he did was quietly sell 850,000 shares of Apple stock -- 12.4% of his holdings -- for about $14 million. Jobs isn't saying what he plans to do with the money. He's still Apple's largest shareholder, with six million shares, or about 10%, worth some $90 million. ''The guy loves technology,'' notes a former associate. ''It would be logical for him to build another company around a whole new set of technologies.'' |
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