Steve Jobs told Disney's Bob Iger about cancer recurrence 30 minutes before Pixar deal
An upcoming book reveals Steve Jobs informed Disney boss Bob Iger in 2006 that his cancer had returned, a secret Iger kept for three years until the information went public.
Steve Jobs and Bob Iger in 2007.
According to the forthcoming biography "Becoming Steve Jobs," Jobs dropped the bombshell just minutes before he and Iger were scheduled to announce Disney's $7.4 billion acquisition of Pixar.
"Bob, there's something really important I've got to tell you," Jobs reportedly said. "My cancer is back."
The revelation was aired in an excerpt of the book published by Fast Company on Friday. The publication's executive editor veteran Rick Tetzeli co-authored Jobs' biography with technology journalist and Fortune writer Brent Schlender.
When Iger received the news, Jobs' condition was only known by his wife and doctor. With a major acquisition that would make Jobs Disney's single largest shareholder just minutes away, Iger had a tough call to make.
Iger recalled the conversation:
Iger assessed risk to shareholders and went through with the deal, only notifying Disney vice president and general counsel Alan Braverman of the development.
A separate report on Friday from Bloomberg, which obtained an advance copy of the biography, adds color to the story, saying Iger told Jobs, ""You're our largest shareholder, but I don't think that makes this matter. You're not material to this deal. We're buying Pixar, we're not buying you."
Over the ensuing years, Iger grew close to Jobs and was ultimately given a seat on Apple's board in 2011.
"I always knew exactly what was going on with Steve medically," Iger said.
"Becoming Steve Jobs" is available for preorder through Amazon.com and the iTunes iBookstore.
Steve Jobs and Bob Iger in 2007.
According to the forthcoming biography "Becoming Steve Jobs," Jobs dropped the bombshell just minutes before he and Iger were scheduled to announce Disney's $7.4 billion acquisition of Pixar.
"Bob, there's something really important I've got to tell you," Jobs reportedly said. "My cancer is back."
The revelation was aired in an excerpt of the book published by Fast Company on Friday. The publication's executive editor veteran Rick Tetzeli co-authored Jobs' biography with technology journalist and Fortune writer Brent Schlender.
When Iger received the news, Jobs' condition was only known by his wife and doctor. With a major acquisition that would make Jobs Disney's single largest shareholder just minutes away, Iger had a tough call to make.
Iger recalled the conversation:
Iger also recalled Jobs saying, "My kids don't know. Not even the Apple board knows. Nobody knows, and you can't tell anybody."He said, "I've made myself a promise that I'm going to be alive for Reed's graduation from high school." [Reed is Jobs's eldest son.]
So I say, of course, "How old is Reed?"
He tells me that Reed is fourteen, and will be graduating in four years. He says, "Frankly, they tell me I've got a fifty-fifty chance of living five years."
"Are you telling me this for any other reason than wanting to get it off your chest?" I asked.
He says, "I'm telling you because I'm giving you a chance to back out of the deal."
Iger assessed risk to shareholders and went through with the deal, only notifying Disney vice president and general counsel Alan Braverman of the development.
A separate report on Friday from Bloomberg, which obtained an advance copy of the biography, adds color to the story, saying Iger told Jobs, ""You're our largest shareholder, but I don't think that makes this matter. You're not material to this deal. We're buying Pixar, we're not buying you."
Over the ensuing years, Iger grew close to Jobs and was ultimately given a seat on Apple's board in 2011.
"I always knew exactly what was going on with Steve medically," Iger said.
"Becoming Steve Jobs" is available for preorder through Amazon.com and the iTunes iBookstore.
Comments
1. Holy cow, will there be any surprises in this book when I get it.
2. I definitely don't see it as having been a risk to shareholders. Steve was supportive at Pixar, but Lasseter was the creative genius there, and just like Apple was able to survive without Steve, Pixar definitely could.
What a great film. It was thanks to Jobs singing its praises that I saw it. Finding Nemo is excellent, too.
I kinda hate that this sort of story fascinates me...
To be fair one could easily read this cynically. This was something Jobs would have known that had he lived and not mentioned this the legal repercussions could have been pretty severe.
Yes, and despite the media belief to the contrary at the time of SJ's death, one of his many great talents was building companies, and teams to run those companies, that were not dependent upon him.
I'd say there is truth in both view points. They are not mutually exclusive IMHO.