This was a great read about Steve Jobs.
<stolen from Fortune Magazine>
In October 2003, as the computer world buzzed
about what cool new gadget he would introduce next, Apple CEO Steve
Jobs - then presiding over the most dramatic corporate turnaround in
the history of Silicon Valley - found himself confronting a
life-and-death decision.
During a routine abdominal scan,
doctors had discovered a tumor growing in his pancreas. While a
diagnosis of pancreatic cancer is often tantamount to a swiftly
executed death sentence, a biopsy revealed that Jobs had a rare - and
treatable - form of the disease. If the tumor were surgically removed,
Jobs' prognosis would be promising: The vast majority of those who
underwent the operation survived at least ten years.
Yet to the
horror of the tiny circle of intimates in whom he'd confided, Jobs was
considering not having the surgery at all. A Buddhist and vegetarian,
the Apple (AAPL, Fortune 500)
CEO was skeptical of mainstream medicine. Jobs decided to employ
alternative methods to treat his pancreatic cancer, hoping to avoid the
operation through a special diet - a course of action that hasn't been
disclosed until now.
For nine months Jobs pursued this
approach, as Apple's board of directors and executive team secretly
agonized over the situation - and whether the company needed to
disclose anything about its CEO's health to investors. Jobs, after all,
was widely viewed as Apple's irreplaceable leader, personally
responsible for everything from the creation of the iPod to the
selection of the chef in the company cafeteria. News of his illness,
especially with an uncertain outcome, would surely send the company's
stock reeling. The board decided to say nothing, after seeking advice
on its obligations from two outside lawyers, who agreed it could remain
silent.
In the end, Jobs had the surgery, on Saturday, July 31,
2004, at Stanford University Medical Center in Palo Alto, near his
home. The revelation of his brush with death remained - like everything
involving Jobs and Apple - a tightly controlled affair. In fact, nary a
word got out until Jobs' tumor had been removed. The next day, in an
upbeat e-mail to employees later released to the press, he announced
that he had faced a life-threatening illness and was "cured." Jobs
assured everyone that he'd be back on the job in September. When
trading resumed a day after the announcement, Apple shares fell just
2.4%.
Apple entertained no further questions about Jobs'
health, citing the CEO's need for privacy. No one learned just how long
Jobs had been sick - or that he had contemplated not having the surgery
at all. "It was very traumatic for all of us," recalls one of those in
whom Jobs confided, speaking on condition of anonymity because of the
topic's sensitivity. "We all really care about Steve, and it was a
serious risk for the company as well. It was a very emotional and very
difficult time. This was one page in the adventure."
***
The Steve Jobs adventure:
By now it's one of the most remarkable stories in business. When Jobs
returned in 1997 to Apple - then facing its own near-death experience -
he arrived with a tarnished legend. He was, of course, the charismatic
boy wonder who at age 21 had co-founded Apple with Steve Wozniak in his
parents' garage back in 1976. He was worth $200 million by 25, made the
cover of Time magazine at 26, and was thrown out of the company at age 30, in 1985.
What
he's accomplished in the past decade has not just restored Jobs to the
Silicon Valley pantheon but elevated him to the status of superstar. On
the brink of bankruptcy when he returned, Apple now has a market value
of $108 billion - more than Merck, McDonald's, or Goldman Sachs; $1,000
invested in Apple shares on the day Jobs took over is worth about
$36,000 today. And it isn't just Apple and its investors that have
benefited from Jobs' executive skill. Pixar, where he served
simultaneously as CEO, has come to dominate the animation business,
churning out megahits like "Finding Nemo" and "The Incredibles" that
prompted Disney (DIS, Fortune 500)
to buy the company in 2006 for $7.5 billion. (Jobs now owns 7.3% of
Disney, worth $4.6 billion, in addition to Apple stock worth $682
million.)