Obama: I Wish I had Bought a ‘Boatload’ of Apple Stock

According to David Axelrod, the Chicago political operator who ran Barack Obama’s 2008 presidential campaign, when Steve Jobs gave Obama a sneak peek at the original iPhone, he knew it was going to be really big hit. “If it were legal, I would buy a boatload of Apple stock. This thing is going to be really big,” Obama said after the meeting”.

Alex

What’s even more interesting is that Fortune’s Philip Elmer-DeWitt has taken a crack at calculating how much Obama’s boatload would be worth today, assuming the sneak peak could have occurred in the first week and half of January, since the rest of the world got to see the iPhone on Jan. 9.

“On Jan. 8, the stock closed at a split-adjusted $11.52. It closed Thursday at $119.94. If Barack and Michele could have scraped together $100,000 to buy Apple the day before the unveiling, they’d now have 8,680 shares worth, by my calculations, $1.04 million plus dividends”.

The fact that Obama had a private meeting with Steve Jobs in 2007, has been made public for the first time in Axelrod’s new book “Believer: My 40 years in politics”.

“Technology runs through my veins...” | Follow me: @DrUsmanQ usman@iPhoneinCanada.ca

  • ????Dennis

    I remember reading about the iPhone before it came out in 2007. I told all my friends that it will be the phone to take over the market. The big reason being because the size of the screen and the fact that it wouldn’t contain carrier software. The problem with phones back then was that Rogers and Telus were ruining the Sony phones and Razrs back then. I remember talking to my wife and telling her we should invest in Apple stock instead of using our savings for a down payment on a house.

    Well the wife won that argument and I have to wake my ass up at 5:30 am to commute to work each day. Could have had half a million today easy.

  • Hindsight is 20/20. I think a lot of people were in the same boat. We’re happy to have you here 🙂

  • Tim

    Hindsight is 20/20. To think you would have held the stock up until today’s value is unlikely. Most people probably would have taken profits at 20%…oh and then there’s that period where it lost half it’s value. I would have been selling then too. I rode Apple from $93 to $108 recently. Not a bad return for 5 months.