- 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.
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.
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