Biography of Henry Ford
Henry Ford was born on July 30, 1863 and died on April 7, 1947. He was the founder of the Ford Motor Company and the father of modern assembly lines used in mass production. When he introduced the Model T automobile, it revolutionized transportation and American industry.
As an inventor, he was awarded 161 United States patents. As sole owner of the Ford Motor Company, he became one of the richest and most well-known people on Earth. His mass production of large numbers of inexpensive automobiles using the assembly line (it took only 98 minutes to finish a car) became known as "Fordism."
Ford's vision and intense commitment to lowering costs resulted in many technical and business innovations. His franchise system of putting a dealership in every city in North America, and in major cities on six different continents, was one of the many innovations.
Ford was not formally educated, but had a global vision as consumerism being the key to peace. He shunned greed and did not believe in accountants. He even amassed one of the world's largest fortunes and never had his company audited. The company's first audit occured once his son Henry Ford II became head of the company.
After his death, he left a vast amount of his wealth to the Ford Foundation. However, he arranged for his family to control the company permanently.
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