This text is from 2010, however i assumed choices merchants would discover this attention-grabbing;
Apple CEO Steve Jobs owns about $2.5 billion value of Apple inventory. However he would personal about $13 billion value of Apple inventory if it weren’t for an enormous mistake he made again in 2003, MarketWatch’s Brett Arends experiences.
In 2003, Apple (AAPL) inventory had declined from a peak $36 per share through the tech growth to about $7.
This put choices granted to workers close to the height deeply underwater.
So, to maintain these workers motivated, Apple’s board gave Steve Jobs and each different Apple worker the chance to alternate the underwater choices for brand spanking new, fewer choices at a a lot decrease strike value.
Steve took the leap and canceled all his choices for a a lot smaller variety of them at a lower cost.
With Apple inventory now buying and selling above $250 – nicely above the strike value of all these choices Steve gave up – Steve, with one pen stroke, misplaced himself about $10.3 billion in future beneficial properties.
Brett calls it, “the dumbest commerce ever.”
(hyperlink to article)