Wally Amos made one of the most famous cookies ever. He was born in 1936 in Tallahassee, Florida, and grew up in Harlem, New York City. In 1975, Wally opened his first cookie store in Los Angeles. He called it "Famous Amos Cookies" and learned how to bake from his Aunt Della. He created the recipe, the brand, the shop, and had the smile. It all came from him. He built the business from the ground up with a $25,000 loan from friends like Marvin Gaye. In just a few years, Wally became a national name. His face was on every bag in every store.
But Wally didn't know business like he knew baking. He brought in investors, trusted the wrong people, and signed contracts without fully understanding what they meant. Wally struggled to keep up with the brand's rapid growth. By 1985, Famous Amos reported a $300,000 loss on sales of $10 million. That same year, he sold a majority stake in Famous Amos to Bass Brothers Enterprises. Slowly, he lost control. By 1988, he had no ownership, no royalties, and couldn’t even use his own name. Famous Amos was eventually sold to another company for $61 million, and that was over 55 times what Wally sold his stake for just a few years earlier.
Still, Wally didn't get bitter. He stayed kind and joyful. He began reading to kids, promoting literacy, mentoring others, and sharing the tough lessons he learned about why ownership matters. He wrote uplifting books like "The Path to Success Is Paved with Positive Thinking." Wally Amos passed away in 2024. Even after being pushed out of his own dream, he kept showing up for other people. That’s what made Wally legendary. Not the money. Not the cookies. It was the way he chose to give no matter what was taken from him.
(Photo: Wally Amos)
But Wally didn't know business like he knew baking. He brought in investors, trusted the wrong people, and signed contracts without fully understanding what they meant. Wally struggled to keep up with the brand's rapid growth. By 1985, Famous Amos reported a $300,000 loss on sales of $10 million. That same year, he sold a majority stake in Famous Amos to Bass Brothers Enterprises. Slowly, he lost control. By 1988, he had no ownership, no royalties, and couldn’t even use his own name. Famous Amos was eventually sold to another company for $61 million, and that was over 55 times what Wally sold his stake for just a few years earlier.
Still, Wally didn't get bitter. He stayed kind and joyful. He began reading to kids, promoting literacy, mentoring others, and sharing the tough lessons he learned about why ownership matters. He wrote uplifting books like "The Path to Success Is Paved with Positive Thinking." Wally Amos passed away in 2024. Even after being pushed out of his own dream, he kept showing up for other people. That’s what made Wally legendary. Not the money. Not the cookies. It was the way he chose to give no matter what was taken from him.
(Photo: Wally Amos)
Wally Amos made one of the most famous cookies ever. He was born in 1936 in Tallahassee, Florida, and grew up in Harlem, New York City. In 1975, Wally opened his first cookie store in Los Angeles. He called it "Famous Amos Cookies" and learned how to bake from his Aunt Della. He created the recipe, the brand, the shop, and had the smile. It all came from him. He built the business from the ground up with a $25,000 loan from friends like Marvin Gaye. In just a few years, Wally became a national name. His face was on every bag in every store.
But Wally didn't know business like he knew baking. He brought in investors, trusted the wrong people, and signed contracts without fully understanding what they meant. Wally struggled to keep up with the brand's rapid growth. By 1985, Famous Amos reported a $300,000 loss on sales of $10 million. That same year, he sold a majority stake in Famous Amos to Bass Brothers Enterprises. Slowly, he lost control. By 1988, he had no ownership, no royalties, and couldn’t even use his own name. Famous Amos was eventually sold to another company for $61 million, and that was over 55 times what Wally sold his stake for just a few years earlier.
Still, Wally didn't get bitter. He stayed kind and joyful. He began reading to kids, promoting literacy, mentoring others, and sharing the tough lessons he learned about why ownership matters. He wrote uplifting books like "The Path to Success Is Paved with Positive Thinking." Wally Amos passed away in 2024. Even after being pushed out of his own dream, he kept showing up for other people. That’s what made Wally legendary. Not the money. Not the cookies. It was the way he chose to give no matter what was taken from him.
📸 (Photo: Wally Amos)
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