In August 1997, Apple was on the brink of collapse. Its finances were in shambles and the tech giant that was once at the forefront of innovation was nearing bankruptcy.
Then you meet Bill Gates, co-founder of Microsoft, Apple’s old rival, who unexpectedly became the hero of the story. Gates stepped in with a $150 million investment, a move that saved Apple and became one of the most talked-about moments in technology history.
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“Apple was in very serious trouble,” Steve Jobs admitted with Gates at the D5 technology conference in 2007. At the time, Jobs had just returned to Apple and noticed that the company was in dire need of help. His willingness to reach out to Gates – someone who had been a fierce competitor – marked a turning point for the company. As Jobs explained at the conference, “Apple was very weak, so I called Bill and we tried to work things out.”
Microsoft’s investment included more than just financial support; it represented a change in mindset. According to Jobs, “Apple didn’t have to beat Microsoft. Apple had to remember who Apple was, because they forgot who Apple was.” This mentality allowed both companies to coexist, with Microsoft becoming the largest software developer for Apple’s Mac platform.
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When Jobs announced the deal at the 1997 MacWorld conference, Gates appeared via satellite to loud cheers from the audience. But it was a win for both companies. Microsoft got business opportunities, while Apple got the boost it needed to stay afloat. Looking back on the investment ten years later, Gates said, “It turned out very well.”
In an iconic moment, Steve Jobs publicly thanked Gates for his help and told him, “Bill, thank you. The world is a better place.” This gratitude was even immortalized on the cover of Time Magazine, a symbol of the profound impact this partnership had on the tech world.
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Despite a very public rivalry, the investment marked a turning point for Apple and the personal relationship between Gates and Jobs.
In a 60 Minutes interview with Charlie Rose, Gates recalled visiting Jobs on his deathbed and became emotional. Reflecting on their relationship, Gates explained, “He and I grew up together in a way. We were the same age within a year and we were quite naively optimistic and built big companies. And every fantasy we had about creating products and learning new things, we all realized. And most of it as rivals. But we always maintained a certain respect and communication, even when he was sick.”
While the deal raised some eyebrows, it didn’t mean the end of competition between Apple and Microsoft. Both companies continued to thrive and together shaped the future of the technology industry.
Their collaboration was a powerful reminder that rivals can find common ground even in the most unexpected circumstances.
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This article Bill Gates Saved ‘Rival’ Apple from Bankruptcy by Investing $150 Million – Steve Jobs Publicly Thanked Him: ‘The World’s A Better Place’ originally appeared on Benzinga.com
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