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. Last Updated: 07/27/2016

Jobs Returns to Apple

CUPERTINO, California () -- Steven Jobs, the charismatic entrepreneur who all but invented the personal computer industry, made a triumphal return home as Apple Computer Inc. announced Friday that it will rehire its co-founder as part of a bold turnaround plan.

Apple also will pay $400 million to acquire Next Inc., the company Jobs started after he was abruptly ousted from Apple 11 years ago. Next's technology and several of its senior executives will join Jobs in a high-stakes effort to create a new type of personal computer to replace the aging Apple Macintosh.