Steve Jobs hid his Porsche so NeXT wouldn’t look rich to investors
The article contrasts the differing attitudes of Apple CEOs Steve Jobs and John Ternus toward Porsche vehicles. While Jobs hid his luxury cars to appear modest to investors, Ternus openly engages in amateur motorsport with high-end track cars.
Why it matters
It highlights the evolution of corporate culture and executive branding in the tech industry over the last four decades.
While they are all on the same page when it comes to the company’s products, two of Apple’s CEOs across the decades have opposite approaches to the same German sports car maker. Back in 1987, Steve Jobs rushed to hide his Porsche ahead of an investor pitch because he didn't want his struggling startup, NeXT, to look flush with cash. Nearly forty years later, Apple’s newly appointed chief executive, John Ternus, owns one of the rarest track-only Porsches ever built, and regularly pushes it to its limits on California racetracks.The day Steve Jobs ‘hid’ his PorscheThe story of Jobs’ car cover-up dates to his post-Apple venture, NeXT, which Apple eventually acquired years later to form the software base of OS X.
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