The Ford motor company, or just Ford, is a multinational American automobile company headquartered in Dearborn, Michigan, United States.
Its founder, Henry Ford, incorporated the company on June 16, 1903. All you might know but is the company is still under the Ford family is a major unanswered question!
Since its inception, the Ford shares have gone to the Ford family members, including William Ford, Mark Fields, and Joseph Henrich.
However, some non-family members hold common stock in the company. This article is all about this and when did Ford get listed on the NY stock exchange.
Does the Ford family still own the Ford?
As you would know, every company has different shares, such as common stock, major shares, etc.
Talking about Ford, the different family members of the Ford family have held different shares in the brand since its inception. Besides these, other non-family members also own some sorts of shares in the company.
For example, Joseph Henrich and Mark Fields are those two non-family members who own major shares in the company. It might mean that the Ford family doesn’t hold shares in the company. However, it is not true.
The original Ford company still holds some shares in the company to date. The grandson of Henry Ford, William Ford Jr., owns most company shares in today’s time.
The company’s total shares owned by the Ford family sum to around 70%, and out of these 70% shares, the majority are Class B shares.
What is special about such shares is that these give 40% voting power or have a say in voting BOD (board of directors).
Last but not least, these Class B shares allow the Ford family to have more money than any other share owned by other family or non-family member(s).
Who built the company, Ford, first?
Founded over 110 years ago, Ford is the second-largest car manufacturing company globally, whose major operations are still under the Ford family’s control.
Henry Ford built the company Ford first, and without any doubt, that’s how the company got its name “Ford.” Let’s get down in the history of how Ford evolved over the years.
Henry Ford manufactured his first-ever car in 1986, which he named a quadricycle. Later, he ventured into the car manufacturing industry through Detroit Automobile Company.
The company, however, was later reorganized as the Henry Ford Company in the early 1990s. In around 1902-03, Henry left the company with the company’s rights & $900 money in hand.
To move forward with the company, he turned to his close friend Alexander Y. Malcomson to finance the company. Following the partnership, the pair began working on their first car.
However, with just $900 in hand, the pair were running out of capital. It forced Malcomson to contact John Gray, who was the head of a savings account.
With valuable guidance from John Gray, Henry & Malcomson restarted the company with 12 investors holding 1000 shares. Within a few years, the once-in-loss company Henry Ford Company got into profit-making.
In the next four to five years, the company again faced challenges in its operations. As a result, Malcomson parted ways with the company in 1906, and Henry Ford became the company’s sole President.
When did Ford get listed on the New York Stock Exchange?
Ford got listed on the New York Stock Exchange (NYSE), i.e., it went public on January 17, 1956. However, Henry didn’t like the idea of going public.
Still, to avoid bankruptcy in the future due to competition with other car manufacturers like General Motors (GM), it went public.
All this happened after Henry Ford’s demise in 1947 and the company’s takeover by the next major shareholder.
Who owns the majority of the stock in the company?
Currently, William Ford Jr., Mark Fields, and Joseph Henrich are the three major shareholders in the Ford company. Let’s discuss each of these below.
William Ford Jr.
The grandson of Henry Ford, William Ford Jr., owns the majority of stocks in the company.
The Ford family bought 3.7 million Class B shares in 2013, of which some went to William due to his heritage.
Again in 2019, William bought another 840,962 shares to make up for his loss in July 2019.
Formerly the CEO of Mazda Motors Corporation, Mark Fields joined Ford in 1989 and became its CEO in 2014. After William Ford Jr., Fields holds the next major stocks of Ford, i.e., 1.8 million.
With 645,155 shares in Ford, Henrich is the 3rd highest stockholder of the Ford Motor company.
Thus, out of all the above three members of Ford, William owns the majority of the stocks.
Besides, he is also responsible for the developments in the company’s processes and global recognition.
Who is the current owner of Ford?
The current owner of the Ford Motor Company is William Clay Ford Jr. He is the company’s executive chair.
William joined the company in 1979 as a product planning analyst. Since then, he has served in various manufacturing, finance, marketing, sales, and product development.
From 1988-89 to date, he has always tried to keep the company stick to its vision of making customers’ lives better with their cars.
For this purpose, William has taken quick actions and measures to improve efficiency and uplift the company’s traditional automotive business.
At the same time, William and Co. have accelerated their approach towards fulfilling their motto of providing world-class smart vehicles and mobility services.
In a nutshell, it’s the continuous efforts of William Clay Ford Jr. and his team that the company has lived up to the expectations of its customers and other shareholders.
Is the Ford family still wealthy?
Yes, the Ford family is still wealthy despite not having many shares in the Ford Motor Company’s parent company. The family has its roots in Michigan, United States.
Though the exact net wealth of the Ford family is still not known, the spouse of William Clay Ford Jr., i.e., Martha Firestone Ford, has a net worth of $1.4 billion alone. Besides, William has his net worth stretched to $1B as of 2021.
Furthermore, Edsel Ford II, another grandson of the late Henry Ford, has a net worth of over $500M.
Being one of the Fortune 500 companies in 2021 and progressing rapidly under William Ford Jr., it’s wise to believe that the Ford family is still wealthy.
A renowned American automobile manufacturer, the Ford Motor Company or just Ford, is the world’s 5th largest automobile manufacturer in the world.
In America alone, it is the 2nd largest car brand after General Motors (GM). It’s also one of those few motor companies to get listed on the Big Board or the New York Stock Exchange (NYSE).
Currently, it’s under the leadership of Henry Ford’s grandson William Ford Jr. who also holds the majority of the stock in the company.
Although the company’s net worth isn’t known so far, the Ford family is still one of the richest families as of 2021.