Henry Ford was a world-famous American automobile business titan, industrialist and creator of Ford Motor Company who has a net worth of $200B. He is widely known for making Model T, which is an affordable automobile for generals.
Keep reading to learn more about Henry Ford. Moreover, find out how he used his creative mind to revolutionize the automobile industry and made such wealth. Also, know Henry Ford’s biography, early life, education, etc.
How much money did Henry Ford make?
Henry Ford was a uniquely creative mind. He earned his vast net worth from the automobile business. In the 56 years of his career, Henry Ford earned up to 200 billion dollars or 3.6 billion dollars per year on average.
An estimated value of his earnings is given below in a periodic format:
- Yearly Income: $3.6B
- Monthly Income: $300M
- Weekly Income: $69.23M
- Daily Income: $9.86M
- Hourly Income: $411K
How did Henry Ford make money?
Henry Ford was an automobile businessman, magnate, industrialist, engineer, and founder of a world-famous company. He devoted his whole career to his company which brought him a huge profit. All the activities of Henry Ford are divided below into a few points:
- Pre Ford Motor Company Career
- Ford Motor Company Career
- Ford Airplane Company Career
Pre Ford Motor Company Career
In 1891, Henry Ford started his career as an engineer at Edison Illuminating Company. A few years later, in 1896, Henry Ford created his first automobile named Ford Quadricycle. Then he met Thomas Alva Edison to approve his creation and eventually got the approval.
Henry Ford redesigned his first vehicle and built the second version of his first car. Later on 5 August 1899, he quit Thomas Edison’s company and created a new Detroit Automobile Company. At that time, the vehicles available on the market were so expensive but lower in quality. He was determined to provide good quality cars for a lower price.
But Henry Ford’s business was not going well, and eventually, the company dissolved in 1901. But he never paused his goal. Henry Ford was able to make a 26 HP car at the end of 1901. Again, he founded another company with the help of Childe Wills named Henry Ford Company in November 1901.
Later from the newly founded company, Henry Ford released an 80 HP vehicle named 999. Besides, in 1902, he successfully launched an inexpensive but good quality car in the market. As William Murphy hired Henry H. Leland Ford quit the company, and they changed the name to Cadillac Automobile Company.
Ford Motor Company Career
On 16 June 1903, Henry Ford created another company named Ford Motors Company with the help of another group of investors and with Dodge Brothers. He invested 28 thousand dollars during the establishment.
After the establishment, the company gained permanency, which is also valid for Henry Ford’s career also. He devoted his whole career to this company. Anyway, During Henry Ford’s period, the company released some of the best automobiles. The model codes are given below:
- 999 (New racing car Version)
- Model t (1908)
- Model a (1926)
Ford Airplane Company Career
During World War I, Ford started the aviation business by creating Liberty Engines. As WWI ended, Ford stopped its airplane production and returned to the automobile business.
Biography of Henry Ford
|Full Name||Henry Ford|
|Date of Birth||30 July 1863|
|Place of Birth||Springwells Township, Michigan, United States of America|
|Date of Death||7 April 1947|
|Place of Death||Fair Lane, Dearborn, Michigan, United States of America|
|Cause of Death||Cerebral Hemorrhage (Uncontrolled bleeding in the brain)|
|Buried||Ford Cemetery, New York, United States of America|
|Height||5 feet 10 inch|
|Wife Name||Clara Jane Ford (1866 – 1950)|
|Profession||Entrepreneur, Businessman, Engineer, Founder of Ford Motor Company|
The early life of Henry Ford
On 30 July 1863, Henry Ford was born on a farm at Springwells Township, situated in Michigan, United States of America. In addition, he grew up on the farm where he was born.
Henry Ford’s father, William Ford (1826 to 1905), was an Irish descent. On the other hand, his mother, Mary Ford (1839 to 1876), was of Belgian descent. Henry Ford’s mother died when he was only 11.
In addition, Henry Ford had four siblings, including Margaret Ford (1867 to 1938), William Ford (1868 to 1917), Jane Ford (1868 to 1945), and Robert Ford (1873 to 1934).
In 1879, Henry Ford went to Detroit and joined James F. Flower and Bros. as a trainee machinist and later in 1982, joined Detroit Dry Dock Co. There he learned about engines.
Death of Henry Ford
In 1945, Henry Ford’s health condition was declining. Thus he left the presidency of Ford Motor Company and gave the responsibility to his grandson named Henry Ford II. Later on 7 April 1947, Henry Ford died at the age of 83, at Fair Lane, at his house, due to a Cerebral Hemorrhage.
In 1885, two Germans named Karl Benz and Gottlieb Daimler were the first to build a gasoline-powered car. There is a misconception among people that Henry Ford is the one who created the first car. Eventually, he was not the inventor but made more efficient cars to use.
Henry Ford is one of the most famous automobile producers for making Model T in 1908. Besides, he was the first to develop an assembly line of production that upraised the automobile industry. For such a technique of assembly, Ford could make thousands of cars per month.
Henry Ford was an excellent creative leader of his era. Moreover, he was the first automobile producer who made cars which were affordable to generals. Besides, Henry Ford was the first to use an assembly line of production to produce automobiles which was a revolutionary step.
- https://www.thehenryford.org/ — Henry Ford Organization (Museum, Factory Tour, etc.)
- https://www.forbes.com/2004/03/11/cx_dd_mibp_0315hfordpoll.html?sh=1b6c3f091974 – Henry Ford Forbes
- https://www.forbes.com/profile/ford/?sh=397caea82ae3 – Henry Ford’s Family Forbes Profile
- https://www.imdb.com/name/nm0285678/ — Henry Ford IMDb