Famed automobile manufacturer Henry Ford was born on July 30, 1863, on his family's farm in Wayne County, near Dearborn, Michigan. When Ford was 13 years old, his father gifted him a pocket watch, which the young boy promptly took apart and reassembled. Friends and neighbors were impressed, and requested that he fix their timepieces too.
Unsatistfied with farm work, Ford left home the following year, at the age of 16, to take an apprenticeship as a machinist in Detroit. In the years that followed, he would learn to skillfully operate and service steam engines, and would also study bookkeeping.
After a few trials building cars and companies, in 1903, Henry Ford established the Ford Motor Company. Ford introduced the Model T in October of 1908, and for several years, the company posted 100 percent gains.
However, more than for his profits, Ford became renowned for his revolutionary vision: the manufacture of an inexpensive automobile made by skilled workers who earn steady wages.
In 1914, he sponsored the development of the moving assembly line technique of mass production. Simultaneously, he introduced the $5-per-day wage ($110 in 2011) as a method of keeping the best workers loyal to his company. Simple to drive and cheap to repair, half of all cars in America in 1918 were Model T's. Biography.com