Lesser-known Apple co-founder re-lists 14,000-acre California ranch

Mike Markkula wants $37.5 million for the biggest landholding in Carmel Valley

New York Weekend Edition /
May.May 30, 2020 12:00 PM
Rana Creek Ranch (Credit: Hall & Hall)
Rana Creek Ranch (Credit: Hall & Hall)

A sprawling central California ranch owned by an Apple co-founder is on the market for $37.5 million.

Neither Steve Jobs nor his programming whiz partner Steve Wozniak ever owned this 14,000-acre property — it is owned by Apple’s second CEO and first big investor, Mike Markkula, according to Business Insider.

The now-76-year-old Markkulla and his wife bought the property in 1982 for $8 million. Five years earlier, the already-wealthy investor cut a $250,000 check to Apple in exchange for a 33 percent stake in the company and the enviable title as Apple employee number 3.

Markkula’s asking price is 37 percent lower than the $60 million he wanted for the sprawling property when he put it on the market in 2013. He put the property, named Rana Creek Ranch, back on the market in 2016 for $45 million.

The ranch has seven homes total and a working cattle ranch. There’s also a 2,900-foot landing strip and a helipad. It’s the largest landholding in Carmel Valley. The main house spans over 5,400 square feet.

Markkula made his fortune through stock options he took as a marketing manager for chip maker Intel and then-semiconductor giant Fairchild. He retired by the mid-1970s at the age of 32, but Jobs convinced him to come out of retirement to join Apple.

Wozniak credits Markkula’s business expertise for much of Apple’s success. After a three-year stint as CEO, Markkula served on the company’s board until 1997 when Jobs returned as CEO. [Business Insider] ­— Dennis Lynch


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