"Sold His Share for $800, Now Worth $80 Billion." History’s Worst Decisions

Blockbuster was the biggest video rental chain in the U.S., and back in 1998 when Netflix launched, no one imagined streaming would take over TV. In 2000, Netflix offered to sell itself to Blockbuster for $50 million, but the executives laughed off the offer. They declined, and by 2021, Netflix had 200 million subscribers, valuing the company at a staggering $231 billion.

Decca Records didn’t think The Beatles were good enough to sign. Talk about a missed hit!

Ecologist Allan Savory was deeply concerned about desertification in Africa. He believed elephants were harming green spaces and oversaw the culling of 40,000 animals. When he realized this actually sped up desertification, he changed course, promoting “holistic grazing” and the vital role elephant herds play in preserving greenery.

Steven Spielberg’s iconic film E.T. features the friendly alien munching on M&M’s in a famous scene. Originally, the alien was supposed to eat Mars chocolate, but the company wasn’t interested. After the movie’s release, M&M’s sales jumped 65%—proof that sometimes, a little product love goes a long way.

In 1957, Germany released a sedative called Contergan containing Thalidomide, which was withdrawn in 1961. During those five years, 10,000 to 20,000 children were born with limb deformities. This tragic approval remains one of modern medicine’s darkest chapters.

Ronald Wayne was the third co-founder of Apple alongside Steve Wozniak and Steve Jobs in 1976. Just 12 days after founding the company, he sold his 10% stake for $800. Today, that share would be worth about $80 billion.

Inalchuq, governor of Ortar, made the fatal choice to attack Genghis Khan’s merchant caravan. Instead of retaliation, Genghis sent envoys to negotiate. But when the Khwarezm ruler II. Muhammad killed one envoy and humiliated the others, Genghis Khan razed the entire empire, burning every village and even diverting a river to flood the shah’s birthplace. By 1120, the Khwarezm Empire was wiped off the map.

In 1899, Asa Chandler thought bottled Coca-Cola would fail, so he sold the bottling rights to Benjamin F. Thomas and Joseph B. Whitehead for a symbolic $1 (which he eventually didn’t even take). By the 1920s, Coca-Cola was bottled in 1,100 plants nationwide.

Hezarfen Ahmed Çelebi was the first person in history to fly, gliding 3 km (about 1.9 miles) over the Bosphorus in 1638. Surprisingly, Sultan Murad IV exiled him instead of celebrating this incredible feat.

Yahoo passed on buying Google for $1 million. Later, when Google was huge, Yahoo offered $3 billion to buy it, but Google wanted $5 billion, so no deal. Microsoft offered $40 billion for Yahoo, but Yahoo refused. Eventually, Yahoo sold for just $4.6 billion—a $35.4 billion loss.