(1863-1947)

Ford, considered the father of the auto industry, launched a business that revolutionized American life perhaps more than any other. He founded Ford Motor Co. in 1903 and five years later introduced the Model T, the first car to target the mass market. Ford became the biggest automobile producer in the world, manufacturing low-cost automobiles by cutting production costs, controlling raw materials and using an assembly line. When his factory workers began quitting because of the monotony of the work and rising production quotas, he doubled wages and offered a profit sharing plan.