Former General Electric CEO Passed on Buying Apple for $2 Billion in 1996
Former chairman and CEO of General Electric Jack Welch had an opportunity to purchase Apple for $2 billion and passed at the chance, according to information shared by Bob Wright in an interview with The New York Post about his book The Wright Stuff: From NBC to Autism Speaks.
Back in 1996, when Apple was struggling ahead of Steve Jobs' return, then CEO Michael Spindler, who took over after John Sculley was ousted, was "practically begging" General Electric to buy Apple.
"The stock price was $20, and [Spindler] was explaining he couldn't get the company moving fast enough and the analysts were on his case," Wright told The Post in an interview on Tuesday. "He was sweating like mad and everybody said, 'We can't manage technology like that.' We had a chance to buy it for $2 billion."
A purchase by General Electric would have radically changed the company's history and it's questionable whether Apple would still be around as a brand today had that happened. Later that same year, after GE declined to make the purchase, Apple bought NeXT for $427 million and Steve Jobs returned to lead the company in 1997.
One of Jobs' first major projects was the iPod, which launched in 2001 and set the company on its current path. The iPhone followed in 2007, the iPad came in 2010, and the Apple Watch, Apple's newest product, launched in 2015.
As of today, Apple is worth more than $600 billion, while General Electric is worth less than half of that. In fact, Apple holds more than two thirds of the value of General Electric in cash, with over $215 billion on hand.
Popular Stories
Apple recently teamed up with Japanese fashion brand ISSEY MIYAKE to create the iPhone Pocket, a limited-edition knitted accessory designed to carry an iPhone. However, it is now completely sold out in all countries where it was released.
iPhone Pocket became available to order on Apple's online store starting Friday, November 14, in the United States, France, China, Italy, Japan, Singapore, ...
Netflix has quietly removed the ability to cast content from its mobile apps to most modern TVs and streaming devices, including newer Chromecast models and the Google TV Streamer.
The change was first spotted by users on Reddit and confirmed in an updated Netflix support page (via Android Authority), which now states that the streaming service no longer supports casting from mobile devices...
Cyber Week is here, and you can find popular Apple products like AirPods, iPad, Apple Watch, and more at all-time low prices. In this article, the majority of the discounts will be found on Amazon.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep the site running.
Specifically,...
The updated specs of the M5 iPad Pro may point toward a major new feature for Apple's next-generation Studio Display expected in early 2026.
Apple's latest iPad Pro debuted last month and contains one display-related change that stands out: it can now drive external monitors at up to 120Hz with Adaptive Sync. The feature should deliver lower latency, smoother motion, and fewer visual...
Apple AI chief John Giannandrea is stepping down from his position and retiring in spring 2026, Apple announced today.
Giannandrea will serve as an advisor between now and 2026, with former Microsoft AI researcher Amar Subramanya set to take over as vice president of AI. Subramanya will report to Apple engineering chief Craig Federighi, and will lead Apple Foundation Models, ML research, and ...
While all Macs are now powered by Apple's custom-designed chips, a new rumor claims that Apple may rekindle its partnership with Intel, albeit in a new and limited way.
Apple supply chain analyst Ming-Chi Kuo today said Intel is expected to begin shipping Apple's lowest-end M-series chip as early as mid-2027.
Kuo said Apple plans to utilize Intel's 18A process, which is the "earliest...
Cellular carriers have always offered big savings on the newest iPhone models during the holidays, and Black Friday 2025 sales have kicked off at AT&T, Verizon, T-Mobile, and more. Right now we're tracking notable offers on the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air. For even more savings, keep an eye on older models during the holiday shopping season.
Note: MacRumors is...
On this week's episode of The MacRumors Show, we talk through the latest rumors about Apple's upcoming iPad mini 8.
Subscribe to The MacRumors Show YouTube channel for more videos
The next-generation version of the iPad mini is expected to feature an OLED display, as part of Apple's plan to expand the display technology across many more of its devices. Apple's first OLED device was the Apple...
Apple is expected to launch a new foldable iPhone next year, based on multiple rumors and credible sources. The long-awaited device has been rumored for years now, but signs increasingly suggest that 2026 could indeed be the year that Apple releases its first foldable device.
Subscribe to the MacRumors YouTube channel for more videos.
Below, we've collated an updated set of key details that ...
