Mike Markkula Net Worth: The Story Of Apple's Early Investor

Mike Markkula, an American entrepreneur and investor, has a net worth of $1.2 billion. Best known for being an angel investor and the second CEO of Apple Inc., Markkula played a crucial role in the early development of one of the most valuable companies in the world. After making his fortune at Intel in the 1970s, he retired at the age of 32 but soon found himself part of tech history by investing $250,000 into Apple in 1976. At the time, Apple was valued at $750,000—a stark contrast to its staggering worth of around $3 trillion today. Markkula officially retired from Apple in 1997, but his impact on the company endures.

Mike Markkula Net Worth	$1.2 Billion
Date of Birth	February 11, 1942
Place of Birth	Los Angeles, California
Nationality	American
Profession	Entrepreneur and Investor

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Early Life

Armas Clifford “Mike” Markkula Jr. was born on February 11, 1942, in Los Angeles, California. He earned both a Bachelor of Science and a Master of Science in electrical engineering from the University of Southern California. Markkula’s early career saw him flourish at Fairchild Semiconductor and Intel, where stock options made him a millionaire. By age 32, he decided to retire, but his entrepreneurial journey was far from over.

The Investment that Changed Everything

In 1976, Markkula was introduced to Steve Jobs and Steve Wozniak, who had recently started Apple along with Ronald Wayne. After Wayne’s departure, Markkula saw the potential in the fledgling company and became Apple’s first significant investor, contributing $250,000—$80,000 of which was an equity investment, and $170,000 was a loan. In return, Markkula became a one-third owner of the company and Apple’s third official employee. He initially intended to stay for just four years but ended up serving Apple for nearly two decades.

Contributions to Apple

Markkula’s involvement with Apple went far beyond financial support. Recognizing that Jobs and Wozniak lacked the experience to lead a growing tech company, he hired Michael Scott as Apple’s first CEO in 1977. Under Markkula’s guidance, Apple grew rapidly, securing critical venture capital and credit. His business acumen helped steer Apple through its early years, and he was instrumental in green-lighting projects like the Apple Macintosh. Markkula also ensured that the Macintosh project survived Steve Jobs’s initial opposition to the project in favor of the ill-fated “Lisa.”

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Markkula briefly served as CEO himself from 1981 to 1983, before helping recruit John Sculley, the former Pepsi CEO, to lead Apple. During Sculley’s tenure, Apple’s revenue soared from $800 million to $8 billion.

The Infamous Split with Steve Jobs

In 1985, Markkula made one of his most controversial decisions when he sided with John Sculley in a management dispute, leading to Steve Jobs’s resignation from Apple. Jobs felt deeply betrayed by Markkula, particularly because of their close relationship. He sold his 20% stake in Apple for less than $100 million, a fraction of the fortune it would be worth today. Despite this fallout, Jobs later admitted to still having a “warm spot” for Markkula, acknowledging his vital role in Apple’s early success. Steve Wozniak even credited Markkula more than himself or Jobs for Apple’s accomplishments.

Real Estate

Markkula’s wealth extends beyond tech investments. In 1982, he and his wife Linda purchased the sprawling Rana Creek Ranch in Carmel Valley, California, for $8 million. The 14,000-square-foot estate features a main house, guest houses, a private lake, a cattle ranch, a riding arena, a helipad, and a 3,000-foot airstrip. Over the years, the couple listed the property several times, most recently selling it to The Wildlands Conservancy for $35 million in 2023.