Steve Jobs, the CEO of Apple Inc. (NASDAQ:AAPL) will always remember the day, September 16. On this day in 1985, Jobs left the company he founded after losing a boardroom vote. John Sculley remained as CEO. Jobs founded Apple in 1978 with Steve Wozniak.
What happens when you fire a founder? A rival is created. On the day that Jobs left Apple, he incorporated a company called NeXT Computer. During the 10 years Jobs was at NeXT, a top operating system was created called NeXTStep. Apple bought NeXT for about $400 million in 1996 to use their operating system.
Jobs then stepped in as an adviser for Gil Amelio, Apple’s CEO in 1996. Around that time, Apple had one of their biggest quarterly losses. Jobs was asked to be CEO, but he was busy with Pixar. Around that time Toy Story was just released and Jobs was busy. After some persuasion, Jobs signed on as the interim CEO on September 16, 1997. Exactly 11 years after that, Apple is worth $121 billion and is selling consumer electronics by the millions.