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Why Apple Co-Founder Steve Wozniak Chose A Modest Paycheck
Steve Wozniak helped start Apple with Steve Jobs and Ronald Wayne.
At first, Wozniak owned a large part of the company.
He later sold much of his Apple stock and shared some with early workers.
He also gave money to charity.
Wozniak said he did not want to focus on getting rich or investing.
He liked building computers and wanted other engineers to admire his designs.
He said his Apple paycheck was about $50 a week after savings and taxes.
Before Apple began, Hewlett-Packard turned down his computer idea five times.
Fortune reported that Apple was worth about $4.8 trillion on October 3, 2026.
Steve Wozniak and Steve Jobs each held 45% of Apple at its 1976 founding; Ronald Wayne held 10%.
Wozniak later sold much of his Apple stake during the 1980s, gave shares to early employees and donated money to charity, Fortune reported.
Wozniak said he avoided investing because he worried money could corrupt his values.
He said he stayed on Apple’s payroll and received about $50 a week after savings and taxes.
Before starting Apple with Jobs, Wozniak pitched his computer idea to Hewlett-Packard five times; the company rejected it each time.
- Who
- Apple co-founder Steve Wozniak, along with Steve Jobs and Ronald Wayne in the company’s founding.
- What
- Wozniak sold much of his Apple stake, said he avoided investing, and described receiving about $50 a week from Apple.
- Where
- Apple was founded; Wozniak later discussed his work and motivations at Grand Valley State University.
- When
- Apple was founded in 1976; Wozniak sold much of his stake during the 1980s. Fortune’s report was dated October 3, 2026.
- Why
- Wozniak said he wanted to build a personal computer and earn the respect of fellow engineers, not make money his main goal.
Key facts
- Apple founding
- 1976
- Original ownership
- Wozniak 45%, Jobs 45%, and Wayne 10%, according to the article
- Wozniak's stock sales
- He sold much of his Apple stake during the 1980s, Fortune reported.
- Reported weekly paycheck
- About $50 a week after savings and taxes, according to Wozniak.
- Apple market capitalization
- Around $4.8 trillion at the time of Fortune’s October 3, 2026 report.
- Hewlett-Packard pitches
- Wozniak pitched his computer idea five times; Hewlett-Packard rejected it each time.
Quotes
Steve Wozniak
Apple co-founder discussing his attitude toward money and investing.
“When you do something you love—and I love typing—you don’t need to prove it by charging a huge amount of money.”
livemint.com
“I do not invest. I don’t do that stuff. I didn’t want to be near money, because it could corrupt your values.”
livemint.com
Sources
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