Steve Jobs historical cancer revelation to Iger

Jobs revealed this only minutes before the two men were to sign the Pixar deal

All eyes are set for the upcoming “Becoming Steve Jobs” autobiography of the Apple hero who took the industry by a storm. And it was indeed a great shock for us all when Job revealed about the return of his cancer on a very important day. He was scheduled to make a historical announcement alongside Iger regarding Disney’s $7.4 billion acquisition of Pixar and only minutes before this was done, he revealed the shocking truth. These words will probably be remembered by anyone who ever knew the great man. “Bob, there’s something really important I’ve got to tell you,” Jobs reportedly said. “My cancer is back.”

An excerpt of this book has been published by Fast Company on Friday which aired the revelation about Jobs’ cancer. Jobs’ biography has been co-authored by the publication’s executive editor veteran Rick Tetzeli who worked alongside the technology journalist and Fortune writer Brent Schlender.

Iger had received this news when there were only two people who were aware of Jobs’ condition; his wife and his doctor. While some are focusing more on the revelation and Jobs’ honesty prior to the confirmation of the big deal, we are not thinking so much about the toughest call which Iger had to make. After all, this deal would make Jobs the single largest shareholder of Disney.

These were Iger’s thoughts on the situation which he clearly recalls;

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.”

Jobs also informed Iger that his kids weren’t aware of his condition. “My kids don’t know. Not even the Apple board knows. Nobody knows, and you can’t tell anybody.”

In what appears to the bravest business decision, Iger still decided to go on with the deal and he only took Disney vice president and general counsel Alan Braverman in his confidence. Bloomberg has managed to get its hands on an advance copy of this biography which states that Iger told Jobs that “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.”

The years that followed this deal brought Iger and Jobs closer and this explains how Iger managed to get a seat on Apple’s board in 2011. “I always knew exactly what was going on with Steve medically,” Iger said.