Jobs founded NeXT Inc. in 1985 after his resignation from Apple with $7 million. A year later he was running out of money, and with no product on the horizon, he sought venture capital. Eventually, Jobs attracted the attention of billionaire Ross Perot who invested heavily in the company.
In 1986, Jobs funded the spinout of The Graphics Group (later renamed Pixar) from Lucasfilm's computer graphics division for the price of $10 million, $5 million of which was given to the company as capital and $5 million of which was paid to Lucasfilm for technology rights.
In 1996, Apple announced that it would buy NeXT for $427 million. The deal was finalized in February 1997,[88] bringing Jobs back to the company he had cofounded. Jobs became de facto chief after then-CEO Gil Amelio was ousted in July 1997.