money & economicsWikipedia1903 · Detroit, USA

Ford Motor Company started in 1903 with $28,000 from twelve investors and a banker as president

the gist

Henry Ford's first car company, the Henry Ford Company, was founded in November 1901, but he left it and it became the Cadillac Motor Company. In 1903 the Ford Motor Company launched in a converted factory with $28,000 in cash from twelve investors, including John and Horace Dodge. Ford was not the first president: the local banker John S. Gray was chosen to reassure investors who feared Ford would leave again. In 1908 the company introduced the Model T, and in 1913 it opened the first moving assembly line at its Highland Park plant. Within a decade it led the world in assembly line production.

so what

Ford's early years show how the car industry was built, with the assembly line making cars affordable for middle-class buyers. Its family control, lasting over a century, is one reason it remains one of the largest family-controlled companies in the world.

fun fact

Ford Motor Company has been under continuous family control for over 100 years.

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