According to Steve Jobs’ biography, his father purchased old, damaged cars. He then repaired them and sold them for a much higher amount than he had initially paid for them. He saved all that money to pay for Steve Job’s college education. Here is an excerpt from Job’s biography:
“My college fund came from my dad paying $50 for a Ford Falcon or some other beat-up car that didn’t run, working on it for a few weeks, and selling it for $250—and not telling the IRS.”
