Henry Ford was born on July 30, 1863 in Michigan. At 16, he left his family’s farm to work as an apprentice machinist in Detroit. In 1891, he began working as an engineer for the Edison Illuminating Company and quickly became promoted to Chief Engineer soon thereafter. With the higher income he generated through his new position, he was able to save enough time and money to experiment with gasoline engines.

It was on this day, August 15, 1899, that Henry Ford left the Edison Illuminating Company to start an automobile company. Detroit lumber baron William H. Murphy supplied capital as well, and Ford was able to start the Detroit Automobile Company. The company did not do well, however, because the automobiles cost too much and were not high quality.

After the demise of his first company, the Henry Ford Company was formed where Ford developed the assembly line mass production method. His Model T automobile is credited with revolutionizing transportation, and Ford became extremely wealthy. He was not selfish though, and was known for keeping extremely high wages for his workers.