Apple Corps was founded in 1967 after accountants informed the group they held £2 million in income. The band chose to invest this sum into a business venture rather than lose it to higher individual tax bills.
Who conceived the name Apple Corps and what inspired it?
Paul McCartney conceived the name during a visit to his publicist Derek Taylor's London flat. He drew inspiration from René Magritte's painting Le Jeu de Mourre which depicted an apple with Au revoir painted on it.
What happened to Apple Electronics division led by Magic Alex?
Yanni Alexis Mardas nicknamed Magic Alex headed Apple Electronics but his impractical designs cost the Beatles at least £300,000 before his dismissal in 1969. The division operated as Fiftyshapes Ltd. at 34 Boston Place in Westminster.
Why did the Apple Boutique close its doors in July 1968?
The Apple Boutique opened on the 7th of December 1967 at 94 Baker Street but closed on the 31st of July 1968 after failing to generate profit. Shoplifting by customers and staff contributed significantly to its failure.
When did Apple Studios cease operations and who used it previously?
Apple Studios ceased operations on the 16th of May 1975 after serving artists like Fanny and Harry Nilsson. The studio had opened in September 1971 following an eighteen-month rebuild costing $1.5 million.