Bill Gates remained in contact with Paul Allen, and he joined him at Honeywell during the summer of 1974. The MITS Altair 8800 was released the following year. The new computer was based on the Intel 8080 CPU, and Gates and Allen saw this as the opportunity to start their own computer software company. Gates dropped out of Harvard at this time. He had talked over this decision with his parents, who were supportive of him after seeing how much their son wanted to start his own company. Gates explained his decision to leave Harvard, saying "...if things [Microsoft] hadn't worked out,
Business magnate Business magnate A business magnate or industrialist is an entrepreneur of great influence, importance, or standing in a particular enterprise or field of business. The term characteristically refers to a wealthy entrepreneur or investor who controls, through personal business ownership or dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals may also be called "czars", "moguls", "proprietors", "tycoons", "taipans", "barons", or "oligarchs". The word "magnate" derives from the Latin "magnates" (plural of "magnas"), meaning "a great man" or "great nobleman". The word tycoon derives from the Japanese word , which means "great lord",