HENRY FORD
Business
Born: July 30, 1863
Springwells (now Dearborn), Michigan
Died: April 7, 1947

"Money is like an arm or a leg -- use it or lose it."

Industrialist Henry Ford pioneered automobile manufacturing. He originated the idea that standardized cars could be designed and mass produced at a low cost. His Model T, which appeared in late 1908 and cost $850, became a bestseller and revolutionized the early automobile industry. In the first year, 10,000 Model-T's were sold and by 1914 the number had reached 250,000. The Ford Motor Company became the world's largest automobile manufacturer. Ford used a profit-sharing plan for his employees and opposed organized labor until 1941. Apart from the Ford Motor Company and other products bearing his name, Henry Ford may be best remembered for his establishment of the Ford Foundation, which endows educational,scientific and charitable grants for the public welfare.