Ross Perot and NeXT (and Apple)

mac-er

macrumors 65816
Original poster
Apr 9, 2003
1,455
0
I didn't know that Ross Perot gave Steve his venture capital when Steve started NeXT in 1986.

Anyone know anymore details about this?

What did Perot get out of it when Apple bought 'em out?
 

ham_man

macrumors 68020
Jan 21, 2005
2,265
0
mac-er said:
I didn't know that Ross Perot gave Steve his venture capital when Steve started NeXT in 1986.

Anyone know anymore details about this?

What did Perot get out of it when Apple bought 'em out?
If I had to guess, all of the stock he had in NeXT was transfered into Apple stock...
 

therevolution

macrumors 6502
May 12, 2003
468
0
http://macspeedzone.com/archive/art/con/be.shtml said:
On December 20, Apple announced its intention to purchase NeXT Software in a friendly acquisition. When the deal went through on February 4, 1997, the total purchase price, including the fair value of the net liabilities assumed, was $427 million, which comprised $319 million in cash, 1.5 million shares of Apple stock (valued at $25 million), options on 1.9 million shares (valued at $16 million), cash payments of $56 million to the NeXT debtholders, cash payments of $9 million for closing and related costs, and $2 million of net liabilities assumed. As the largest shareholder of NeXT (he owned 45 percent), Jobs personally pocketed $100 million in cash and all 1.5 million shares of Apple stock, which he agreed not to sell for at least six months. All NeXT products, services, and technology research became part of Apple. Amelio now admits that Apple overpaid for NeXT, but it had little choice given the dire straits the company was in at the time.
It sounds like he would have gotten his share of the cash from the deal, but no stock, since Steve took all the Apple stock.
 

iMeowbot

macrumors G3
Aug 30, 2003
8,643
0
Perot had sold off most of his NeXT shares by the time Apple came knocking, with about a 10% stake left by then. Jobs ended up with about half by the end.