"I am especially pleased that as I step down from the board, a new generation of Ford family members is poised to continue this legacy of service.". Henry Ford III, who has a degree in history from Dartmouth College and most recently worked as a middle school teacher in Virginia, is to take a job in labor relations at Unlike his uncle before him, Bill was not a successful judge of executive talent, appointing long-time, but in the end untalented or unsuitable, managers to key positions. - Residence: New York WebHenry Ford III was elected to the Ford Motor Company board of directors in May 2021. His eldest son, Henry Ford III, works inside the company, as does his second son, Calvin. Ford's big success, on which the company was built, was the Model T, which he started selling for $825.00. And in 1927, Edsel spearheaded the design of the Model A to replace the Model T. He also founded the Mercury brand in the company, a business that came to an end in 2011. Ford also increased salaries to $5 per day ($140 today) in 1924, and an eight hour day, 48-hour week in 1922, so that workers would be keen to stay and utilise their experience to rapidly increase output, in fact to over one million cars in 1920. Henry Ford III and Alexandra Ford Englishhad beennominated, Bill Ford discusses what it means to add young Ford family to board, Bill Ford's controversial viewpoint has changed Detroit automaker, Ford creates role for ex-presidential candidate Jon Huntsman with $1M salary, Michigan Central Station on track for 2022 finish: 'This is a Phoenix rising', Your California Privacy Rights / Privacy Policy. See what the average commute is in Chemung County, NY, Highest-rated Italian restaurants in New York City, according to Tripadvisor, Highest-rated seafood restaurants in Rochester, according to Tripadvisor, Highest paying jobs in Syracuse that require a graduate degree, Recently opened restaurants in the Rochester area, People from these counties are looking to buy homes in Onondaga County, NY, How New York has voted in every presidential election since 1976, Counties with the most college graduates in New York, People from these counties are looking to buy homes in Broome County, NY, 60 historic photos from American military history, https://creativecommons.org/licenses/by-nc/4.0/?ref=chooser-v1. The October edition of Forbes magazine estimated Ford's net worth at more than $250 million. 
"As an uncle, as a father and as executive chairman, Im really proud," Bill Ford told the Free Press on Friday. 
- Residence: New York Her current net-worth is estimated at $125 million. We want to live in the present and the only history that's worth a tinker's dam is the history we make today. - Source of wealth: hedge funds, self made, #19. 
Prior to working at Ford, she ran merchandising divisions for ToryBurch in New York City and Gap Inc., in San Francisco. WebHenry Ford III serves on the foundations Board of Trustees and is a director at the Ford Motor Company. English,the daughter of Bill Ford, executive chairman of the company, is the first female member of the Ford family to serve on the board. - Source of wealth: candy, pet food, #9. He was elected on Jan. 18, 1988, at the age of 39, along with his cousin, Bill Ford, then 30. He ran the short-lived Continental division in the 1950s before it folded into the Lincoln brand. The Ford family is synonymous with automobiles the world over. "John has been a terrific board member who cares deeply about the company," Bill Ford said in the news release. In 1922 "The New York Times" reported that. 
Contact Phoebe Wall Howard: 313-222-6512 orphoward@freepress.com.Follow her on Twitter@phoebesaid. To publish, simply grab the HTML code or text to the left and paste into Meanwhile, Amazon CEO Jeff Bezos is projected to become the world's first trillionaire by 2026. Thanks for subscribing. It created a deeper schism between father and son. Candidate for U.S. - Residence: New York As of April 2023, Henry Ford had an estimated net worth of more than $200 billion. - Source of wealth: hedge fund, self made, #18. Read more on Ford and sign up for our autos newsletter. 
#20. They both have shown they care deeply about the company.". Other wealthy sectors include food and drink, fashion and retail, and media and entertainment. He was also a hater of labor unions and approved a campaign of thuggish opposition to put down union organizing led by his head of security, Harry Bennett. Inducted into the Automotive Hall of Fame in 1967. In doing so, youre agreeing to the below guidelines. Net Worth: $67 billion Source of wealth: Microsoft 4. "They will also extend the Ford familys consistency of vision, values and care for the company. Edsel and Henry were different kinds of men from two different generations. Sales reached 250,00 by 1924, and 472,000 two years later, by which time the price had dropped to $360, around $7,000 in 2016 money. The younger Fords replace two seasoned board members. If your organization is interested in becoming a Stacker His introduction of the Ford Model T automobile revolutionized transportation and American industry. As the Ford Motor Company 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. He joined the company in 2006 and worked in labor relations, purchasing, Edsel is well-liked around Detroit for his various philanthropic and entrepreneurial pursuits. Net Worth & Salary of Henry Ford in 2023. Is she Engaged? WebBy the time of his death in 1937, estimates (if using his wealth as a percentage of US GDP) place his net worth in the range of $300 billion to $400 billion. Chase Coleman III- Net worth: $8.5 billion (#229 wealthiest in the world) More:1,800 companies wanted to be on this Top 50 list. The last Model-T was produced in 1927, the 15 millionth. Two years after the death of his father in 1943 and at the close of World War Two, Henry II became president of the company at age 27, a title he held until 1960. The U.S.'s wealthiest billionaires are mostly concentrated within just a couple of industries: finance and investments, and technology. When told some years back that she couldn't keep it at the local yacht club because of the boat's draft, she personally paid to have the marina dredged to accommodate the vessel. Edsel B. Ford II, great-grandson of company founder Henry Ford, retired from the board. She is a granddaughter of Henry Ford II. Martha Firestone Ford, however, is worth $1 million specifically. flats to rent manchester city centre bills included; richmond bluffs clubhouse; are there alligator gar in west virginia; marlin 1892 parts - Residence: New York Ramzi Musallam- Net worth: $7.9 billion (#271 wealthiest in the world) He currently serves on the finance Stacker compiled a list of the richest billionaires who are residents of New York, using data from Forbes. Her current net-worth is estimated at $125 million. One can now see how this grounding was to lead to his future success. Despite her ascent at the company, she is not thought to be future CEO material, though she has expressed her desire to be on the board of directors. What he did do, which transformed the auto industry around the world, was perfect mass production methods to make a reliable car affordable for the masses. storytelling. But he was focused in his free time on developing a self-propelled vehicle, and finally perfected a crude one he dubbed the Ford Quadricycle. - Source of wealth: hedge funds, self made, #7. WebFord Family Net Worth & Earnings in 2021 There has yet to be a public disclosure of the Ford family's collective net worth. WebCategoras. Henry Ford passed away in 1947, just two years after retiring from the car manufacturing industry. Henry had relinquished the presidency of the company to son Edsel in 1919, but maintained authority. The two men overlapped in their ascent through Ford, each holding a series of jobs, de rigueur for any Ford who wanted a livelihood in the company and not just a payout of stock dividends. 1, with a net worth of $152 billion. [on friends] My best friend is the one who brings out the best in me. Early health problems and his youth made it so W.C. Ford lived and worked very much in his brother's shadow. Like most Ford family members, excluding Bill Ford, she does very few interviews. Here is a look at the Fords, the first family of the American automobile, famous and infamous, including Elena as she moves up the corporate ladder at the company that puts her last name on every new vehicle. His net worth at his death was estimated at $200 billion in todays dollars. By coincidence, Edsel Ford has put his family station wagons up for auction this month with Barrett-Jackson and response to the auction news has been enthusiastic. Forbes lists 113 billionaires in New York. Upon his death, the Henry Ford net worth stood at what would A number of strokes in the late 1930s had left Henry Ford physically and mentally debilitated, and although he had nominal control of the company after Edsels death in 1943, after the conclusion of the war, his faculties were clearly declining, with his jealousy of successful executives even forcing seniors out of the company. And he said he's feeling more optimistic than ever about the company's future in the hands of new CEO Jim Farley. English, 33, is the daughter of Bill Ford, executive chairman of the company. Before Fame. Not bad for being the first female member of the clan to work directly for the company. - Source of wealth: apparel, self made, #17. The Walton family was ranked No. While the U.S. is home to the most billionaires out of any other country, Americans are somewhat split in their feelings on the billionaire class. Henry Ford III, 40, is the son of Edsel B. Ford II and an investor relations director at Ford. Although support for individual billionaires like Bill Gates is relatively strong, many Americans view the ultra-richas a group rather than as individualsnegatively. Stacker believes in making the worlds data more accessible through More:Ford makes come-from-behind push with Mach-E as industry enters new era, More:Ford puts 4 properties on the selling block, 35 sites under review in Dearborn area. All rights reserved. He clashed with his own President, Lee Iacocca in the easy 1970s over the latter's plan to build sub-compact Fords with Honda engines in order to supply the public with smaller, more fuel efficient vehicles that were in big demand. He became President of Ford Motor Co. in 1918. - Source of wealth: real estate, #14. Henry's grandson William Clay Ford Sr. and his family have controlled the Detroit Lions franchise of the National Football League since late 1963. In the 56 years of his career, Henry Ford earned up to 200 billion dollars or 3.6 billion dollars per year on average. The legendary American businessman and industrialist Henry Fords net worth was about $188 billion at the time of his death. His assembly line formula not only made car production faster and cheaper, it also gave middle-class people the opportunity to own cars, during a time when cars were only affordable to the rich. Henry Ford was born on July 30, 1863, in Greenfield Township, Michigan, to Mary and William Ford. He also pioneered a good solid working day-wage for his laborers -- $5 a day in 1914, about double what his competitors were paying. There are a few guidelines and Michael Bloomberg- Net worth: $94.5 billion (#7 wealthiest in the world) The company remains 2% owned by the Ford family, but the Fords control 40% of the voting stock, which means they still call the important shots. He married Eleanor Clay, who was a niece in the family that owned the J.L Hudson department store chain. In April 2011, she was charged with drunk driving after her company-issued Ford Explorer jumped a curb and re-entered traffic. PROFILE Ford family $2B 2015 America's Richest Families Net Worth as of 7/1/15 Photo by Newscom About Ford family More than 100 years after Henry Ford introduced his and more. Married and with four sons, though, the next generation of his family seems destined to perhaps lead the company or the family's interests in the automaker one day. A huge personality in Detroit and globally, "Hank The Deuce" was known for living hard--drink, cigars and marrying three times. Ford was an employee of the company from 2006 to 2021. Stacker distribution partners receive a license to all Stacker stories, Don Vultaggio & family- Net worth: $7.0 billion (#320 wealthiest in the world) Henry Ford died on 7 April 1947. Henry Ford III, known as "Sonny" within the family, uses "Henry" professionally. Though often made to look foolish by his father in front of subordinates, Edsel was the strongest force inside the company pushing the company's methods, processes and designs into modernity against the force of his father. His highest earnings were in 1920, aged 57, and by the mid-1920s, Henrys own net worth is estimated to have been over $1.2 billion. Though Henry Ford took capital from investors, such as the Dodge Brothers who had their own automotive firm, he had infamous contempt for investors, calling them "parasites." He was elected on Jan. 18, 1988, at the age of 39, along with his cousin, Bill Ford, then 30. Bill Ford also earned a graduate degree from MIT. Though a dogged innovator, he had a dark side. He was also an unabashed anti-semite, both in words and in the pages of Dearborn Independent newspaper he published and distributed through Ford dealerships. However, the company lasted only until 1901, as quality was low and costs high. When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. After Bill was named chairman in 1999, Edsel, still a board member, began his withdrawal from official executive posts. He was perhaps hardest of all on his only son, Edsel, who developed stomach cancer and died at age 49. But at age 25 he did not, in fact, have much control over the enterprise as long as his father was around. He joined the company in 2006 and worked in labor relations, purchasing, marketing and sales,and corporate strategy. Leonard Stern- Net worth: $7.6 billion (#286 wealthiest in the world) "Ford is not just a household name but a long-standing brand affiliated with Henry Ford and his vision," she said. Born in a family of farmers, Ford made the greatest revolution in the field of automobiles and business. - Residence: Port Washington "I think that creates a culture and a sense of humanity that is timeless.". He is the founder of the leading automobile business company Ford Motor Company. W.C. Ford married Martha Parke Firestone, cementing one of the great industrial unions as she is the grand-daughter of Harvey Firestone, founder of the tire company, and a close friend of Henry Ford. Before his election to the board, Ford held a variety of roles within the company. She earned a bachelor's degree from Stanford University and an MBAfrom Harvard University. Edsel B. Ford II,great-grandson of company founder Henry Ford, retired from the board. "Henry and Alexandra bring fresh backgrounds and perspectives to the board," company spokesman T.R. Today, "Edsel" is synonymous with business failure. Henry Ford III and Alexandra Ford Englishhad beennominatedby the company at ages 40 and 33 to stand for election to theboardat its virtualannual shareholder meeting on Thursday, the company announced on March 12. 1875. Complete coverage of the 2023 New York Auto Show. The fortune that Though nine years older than current Ford chairman Bill Ford, Edsel Ford II, oldest son of Henry Ford II, lost out in the competition to lead the family and the car company to his younger cousin. Julia Koch & family- Net worth: $59.0 billion (#19 wealthiest in the world) Edsel Ford is a member of the board's finance committee and sustainability and innovation committee. "Having family members helps maintain his vision and provides checks and balances in fulfilling his entrepreneurial dream. Fast forward some 100 years to 2021: As the COVID-19 pandemic continued to rage, a record-breaking 660 people became billionaires globally, growing the previous year's number by 30%. Contact Phoebe Wall Howard: 313-222-6512 orphoward@freepress.com.Follow her on Twitter@phoebesaid. Elena's personal life, like a lot of Fords, has been bumpy. We spoke to him on his last day. He was also notoriously hard on his senior executives, most of whom developed ulcers. The first billionaire ever is thought to be Standard Oil magnate John D. Rockefeller back in 1916, or perhaps Henry Ford in 1925. DEARBORN, Mich., March 12, 2021 Ford Motor Company today announced that Alexandra Ford English and Henry Ford III have been nominated to stand for election But he was instrumental in orchestrating the ascent of his son, Bill Ford, to the post of chairman in 1999 and to CEO in 2001. His highest earnings were in 1920, aged 57, and by the mid-1920s, Henrys own net worth is estimated to have been over $1.2 billion. In this article, we show you how Ford became one of the richest The Ford name still lives through the automobile manufacturing company Henry founded, and he is remembered in particular through his adaption of the assembly line to produce a vehicle affordable to many the Model-T Ford. She previously was director of market and operations for Ford Autonomous Vehicles LLC, and overseeingactivity in Miami, Austin, Texas, and Washington, D.C., the company said. Every time I reduce the price of the car by one dollar I get one thousand new buyers. She continues to live at the Ford family's Gross Pointe Farms Michigan compound of homes. In his personal life, Henry Ford married Clara Jane Bryant in 1888; their only child, Edsel, died of cancer in 1943. republish under a Creative Commons License, and we encourage you to - Residence: New York Henry Ford was a known philanthropist, but generally preferred to donate personally, to individuals rather than through organisations. - Residence: New York More:Ford CFO replaced in management shake-up on Day 1 of new CEO, More:Ford hires global CMO from eBay amid shakeup in tech, vehicle launches. When production stopped, he had sold 15,007,034 Model T cars. He currently resides in Greenfield, MI. Ford often creditsthe UAW publicly when winning product awards. You must have JavaScript enabled to experience the new Autoblog. Check your in-box to get started. Henry Ford was born on 30 July 1863, in Greenfield Township, Michigan USA into a farming family of Irish-English (father) and Belgian (mother) descent. Over the last 29 years, insiders at Ford Motor Co have traded over $118,669,372 worth of Ford Motor Co stock and bought 2,495,294 units worth He remains much beloved around Detroit despite running one of the most awful franchises in NFL history, not sniffing a championship since 1957. History will likely be good to Bill Ford as an ultimately successful steward of his great grandfather's company. Before Henry Ford pioneered the assembly line, automobiles were made by hand by groups of men. - Source of wealth: real estate, self made, #6. - Source of wealth: Koch Industries, #1. In the same year, with the support of shareholders, he founded the Henry Ford Company, but he soon left his own company over disagreements with the shareholders, and after building and racing a 28-horsepower car to publicise his product including setting a land speed record of 91mph(147kph) formed The Ford Motor Company in 1903 with assets of just $28,000, with the support of Alexander Malcolmson and the Dodge Brother, among others. William C. Ford, known around Detroit these days as simply, "Mr. Ford," is the youngest surviving child of Edsel Ford and Henry Ford's last surviving grandchild. - Source of wealth: private equity, self made, #11. According to Pew Research Center data, people in the U.S. became somewhat more critical of billionaires between 2020 and 2021. The retired chairman and CEO of Eli Lilly and Co. joined the board in 2013 and has served on the compensation committee and the nominating and governance committee. About: After turning down the opportunity - Residence: East Setauket Bill vied for leadership of the family with his cousin Edsel Ford II, but the early death of Edsel's father, Henry Ford II, put him at a disadvantage to Bill and the sway of his father. So just how rich was Henry Ford? She was also charged with child endangerment because one of her children was in the vehicle at the time. WebWith the net worth of $200 Billion, Henry Ford is the # 4 richest person on earth all the time follow our database. Israel Englander- Net worth: $11.3 billion (#156 wealthiest in the world) WebAs of 2023, Henry Fords net worth is $200 billion. The company credited Henry Ford IIIin its news release for being part of the team that negotiated the landmark 2008 labor agreement with the UAW. Henry Ford Estimated Net Worth Today: $200 Billion One of the greatest entrepreneurs of all time, Henry Ford (1863 1947), founder of the eponymous carmaker, was so influential in the manufacturing industry than the term Fordism was given to the system in which workers are paid high wages and goods are mass produced in a standardized Additionally, he had advised the Soviet Union on establishing a separate manufacturing plant, initially assembling Ford vehicles shipped from the USA, and eventually moving to produce independently. Rupert Murdoch & family- Net worth: $17.1 billion (#95 wealthiest in the world) One of his first cars was the Model T. To retain complete control, the Henry Ford and Son Company was formed, to which most assets were transferred, including workers, thereby persuading shareholders to sell out. Senator from Michigan in 1918. Billionaires are ranked by net worth as of March 24. - Source of wealth: private equity, self made, #13. Henry Ford III, 40, is the son of Ford board member Edsel B. Ford II, 72, who plans to retire from the board in May. The company continued to lose money and market value under his leadership. Billionaires are ranked by net worth as of March 24. He said again Friday that boarddiversity is"very much top of mind.". It's tradition. Stephen Ross- Net worth: $11.6 billion (#145 wealthiest in the world) 2023 www.freep.com. Based on recent history, it would behighly unusual for Ford board recommendationsnot to win approval. Ford revamps Washington team as Biden heads to White House, Top Ford labor negotiator Gary Johnson to retire after 34 years, Your California Privacy Rights / Privacy Policy. Henry Kravis- Net worth: $7.5 billion (#294 wealthiest in the world) Founder of Ford Motor Company who developed the assembly-line process for mass production. Martha Firestone Ford is an American businesswoman who has a net worth of $800 million. - Residence: New York The board, which includes directors from inside and outside the company, iselected to represent shareholder interests, makedecisions ranging fromwhen to make dividend payouts to hiring or firing a CEO and establishing executive compensation. WebHenry Ford III was elected to the Ford Motor Company board of directors in May 2021. His fortune was accumulated during a working life spanning more than 60 years, beginning in the period when the industrial revolution had reached fruition in the USA, making several businessmen very wealthy, including John D. Rockefeller (oil) and Andrew Carnegie (steel) Ford neatly combined the two. Alexandra Ford English and Henry Ford III have been nominated by the company to stand for election to theboardat its virtualannual shareholder meeting on May 13. Valerie Mars- Net worth: $9.6 billion (#190 wealthiest in the world) - Residence: New York During World War One, he was a public pacifist. ", More:Ford creates role for ex-presidential candidate Jon Huntsman with $1M salary, More:Michigan Central Station on track for 2022 finish: 'This is a Phoenix rising'. Hehas worked as a global marketing manager for Ford Performance and "played a key role in the launch of the latest Ford GT and supported the company's successful return to racing at the 24 Hours of Le Mans," the company said. WebIn terms of net worth, his company made huge profits, as well as benefiting society and employees,. https://www.linkedin.com/company/ford-motor-company. Stephen Schwarzman- Net worth: $27.5 billion (#49 wealthiest in the world) He had held senior posts in the company's advertising group and finance division, among others. Ford also earned a graduate degree from Stanford University and an MBAfrom Harvard University for individual billionaires Bill! 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