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Meet the Henry Ford family: Inside the lives of this legendary automobile dynasty

October 23, 2024
in Transportation
Meet the Henry Ford family: Inside the lives of this legendary automobile dynasty
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  • The Ford family has amassed significant wealth through the Ford Motor Company.
  • Henry Ford founded the company in 1903 and revolutionized automobile manufacturing.
  • Fordism, introduced in 1914, combined large-scale production with higher wages.

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The name Ford has now become synonymous with the car industry, and the family behind it has also amassed significant wealth.

Henry Ford, considered to have revolutionized automobile manufacturing, founded the Ford Motor Company in 1903. He not only introduced the groundbreaking Ford Model T, one of the first mass-produced, affordable vehicles, but Ford also helped the American middle class take off.

In 1914, he offered workers $5 a day (roughly equivalent to $150 now, according to the Ford website) for working eight-hour shifts. This system, later dubbed “Fordism,” started an industry trend of “large-scale production combined with higher wages,” according to the company’s website.

Over a century later, Ford remains one of the world’s most influential and largest automakers. Although Henry Ford’s descendants have stayed relatively under the radar, here’s a rundown of what we know about them.

  • The Ford family has amassed significant wealth through the Ford Motor Company.
  • Henry Ford founded the company in 1903 and revolutionized automobile manufacturing.
  • Fordism, introduced in 1914, combined large-scale production with higher wages.

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview

Bull

Thanks for signing up!
Go to newsletter preferences
Thanks for signing up!
Access your favorite topics in a personalized feed while you’re on the go.

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the email.

Bull

Advertisement

The name Ford has now become synonymous with the car industry, and the family behind it has also amassed significant wealth.

Henry Ford, considered to have revolutionized automobile manufacturing, founded the Ford Motor Company in 1903. He not only introduced the groundbreaking Ford Model T, one of the first mass-produced, affordable vehicles, but Ford also helped the American middle class take off.

In 1914, he offered workers $5 a day (roughly equivalent to $150 now, according to the Ford website) for working eight-hour shifts. This system, later dubbed “Fordism,” started an industry trend of “large-scale production combined with higher wages,” according to the company’s website.

Over a century later, Ford remains one of the world’s most influential and largest automakers. Although Henry Ford’s descendants have stayed relatively under the radar, here’s a rundown of what we know about them.

Tags: benson ford sr .CompanyDeathdetroit lions franchiseedselenzo ferrariford motor companygetty imageshenry fordhenry ford familymartha parkeownersheila ford hampteam presidentyear
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