How old was Henry Ford when he died? Who is this about?

How old was Henry Ford when he died? In collaboration with Samuel Crowther, he wrote My Life and Work (1922), Today and Tomorrow (1926), and Moving Forward (1930), which described the development of Ford Motor Company and outlined his industrial and social theories. He also published Edison, As I Know Him (1930), with the same collaborator. Doctor of Engineering degrees were conferred on him by the University of Michigan and Michigan State College (now Michigan State University), and he received an honorary Doctor of Law degree from Colgate University.

Henry Ford died at his residence, Fair Lane Estate in Dearborn, at 11:40pm on Monday, April 7, 1947, following a cerebral hemorrhage. He was 83 years old. At his bedside were Clara Ford and members of their household staff. At the time of his death, flooding on the Rouge River, which flows through the grounds of Fair Lane, had cut off electrical power. Old-fashioned kerosene lamps and candles were the only sources of light in the house, creating a scene similar to his birth in the same county many years before.

Henry Ford when he died

How old was Henry Ford when he died?

Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist and business magnate. He was the founder of Ford Motor Company, and chief developer of the assembly line technique of mass production. Ford created the first automobile that middle-class Americans could afford, and his conversion of the automobile from an expensive luxury into an accessible conveyance profoundly impacted the landscape of the 20th century.

Ford was born on a farm in Michigan’s Springwells Township, leaving home at age 16 to work in Detroit. It was a few years before this time that Ford first experienced automobiles, and throughout the later half of the 1880s, Ford began repairing and later constructing engines, and through the 1890s worked with a division of Edison Electric. He officially founded Ford Motor Company in 1903, after prior failures in business but success in constructing automobiles.

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Ford’s 1908 introduction of the Model T automobile revolutionized both transportation and American industry. As the Ford Motor Company sole owner, he became one of the richest and best-known people in the world. He is credited with “Fordism”, the mass production of inexpensive goods coupled with high wages for workers.

Ford was also among the pioneers of the five-day workweek. Ford believed that consumerism was a key to global peace. His commitment to systematically lowering costs resulted in many technical and business innovations, including a franchise system that put dealerships throughout North America and major cities on six continents.

Was Henry Ford a billionaire?

Henry Ford was, in fact, a billionaire. His estimated net worth by the middle of the 1920s was $1.2 billion, placing him among the richest men in American history.

Henry Ford when he died

Control of the company

During its first five years the Ford Motor Company produced eight different models, and by 1908 its output was 100 cars a day. The stockholders were ecstatic; Ford was dissatisfied and looked toward turning out 1,000 a day. The stockholders seriously considered court action to stop him from using profits to expand. In 1909 Ford, who owned 58 percent of the stock, announced that he was only going to make one car in the future, the Model T. The only thing the minority stockholders could do to protect their dividends from his all-consuming imagination was to take him to court, which Horace and John Dodge did in 1916.

The Dodge brothers, who formerly had supplied chassis to Ford but were now manufacturing their own car while still holding Ford stock, sued Ford for what they claimed was his reckless expansion and for reducing prices of the company’s product, thereby diverting money from stockholders’ dividends.

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The court hearings gave Ford a chance to expound his ideas about business. In December 1917 the court ruled in favour of the Dodges; Ford, as in the Selden case, appealed, but this time he lost. In 1919 the court said that, while Ford’s sentiments about his employees and customers were nice, a business is for the profit of its stockholders. Ford, irate that a court and a few shareholders, whom he likened to parasites, could interfere with the management of his company, determined to buy out all the shareholders.

He had resigned as president in December 1918 in favour of his son, Edsel, and in March 1919 he announced a plan to organize a new company to build cars cheaper than the Model T. When asked what would become of the Ford Motor Company, he said, “Why I don’t know exactly what will become of that; the portion of it that does not belong to me cannot be sold to me, that I know.” The Dodges, somewhat inconsistently, having just taken him to court for mismanagement, vowed that he would not be allowed to leave.

Ford said that if he was not master of his own company, he would start another. The ruse worked; by July 1919 Ford had bought out all seven minority stockholders. (The seven had little to complain about: in addition to being paid nearly $106,000,000 for their stock, they received a court-ordered dividend of $19,275,385 plus $1,536,749 in interest.) Ford Motor Company was reorganized under a Delaware charter in 1920 with all shares held by Ford and other family members. Never had one man controlled so completely a business enterprise so gigantic.

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The planning of a huge new plant at River Rouge, Michigan, had been one of the specific causes of the Dodge suit. What Ford dreamed of was not merely increased capacity but complete self-sufficiency. World War I, with its shortages and price increases, demonstrated for him the need to control raw materials; slow-moving suppliers convinced him that he should make his own parts. Wheels, tires, upholstery, and various accessories were purchased from other companies around Detroit.

As Ford production increased, these smaller operations had to speed their output; most of them had to install their own assembly lines. It became impossible to coordinate production and shipment so that each product would arrive at the right place and at the right time. At first he tried accumulating large inventories to prevent delays or stoppages of the assembly line, but he soon realized that stockpiling wasted capital.

Instead he took up the idea of extending movement to inventories as well as to production. He perceived that his costs in manufacturing began the moment the raw material was separated from the earth and continued until the finished product was delivered to the consumer. The plant he built in River Rouge embodied his idea of an integrated operation encompassing production, assembly, and transportation.

To complete the vertical integration of his empire, he purchased a railroad, acquired control of 16 coal mines and about 700,000 (285,000 hectares) acres of timberland, built a sawmill, acquired a fleet of Great Lakes freighters to bring ore from his Lake Superior mines, and even bought a glassworks.

Henry Ford when he died

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