The Ford Family is one of the wealthiest families in the world and is from the state of Michigan in the U.S. The family, as the name suggests, is most well-known for its control of the American automobile manufacturer, Ford Motor Company or as it is more commonly called, Ford. The company was founded by Henry Ford on the 16th of June 1903. Since 1963 William Clay Ford Sr. (who is the grandson of Henry Ford) and his family have controlled the Detroit Lions franchise of the National Football League.
The family owns all of the company’s Class B shares, which are collectively entitled to elect 40% of the company’s Board of Directors. The company is listed on the New York Stock Exchange, and while the Ford Family has minority ownership, but it also has the majority of the voting power.
The company sells automobiles and commercial vehicles under the Ford brand while the company sells most luxury cars under the Lincoln brand. Ford is not just an American brand but a global brand as well. Ford owns the Brazilian SUV manufacturer, Troller, and has an 8% stake in Aston Martin of the UK and a 32% stake in Jiangling Motors as well.
The company has joint ventures in China (Changan Ford), Taiwan (Ford Lio Ho), Thailand (AutoAlliance Thailand), Turkey (Ford Otosan), and Russia (Ford Sollers). Ford is one of the Top 3 U.S. car brands. In 2019, the company produced 5.5 million vehicles and employed 190,000 people. The company’s net income in 2019 was $47 million.
One of the company’s most important shareholders was William Clay Ford Sr. (1925 – 2014), who had served on the Board of Ford Motor Company and was the last surviving grandchild of the legendary Henry Ford. He is credited with redesigning Lincoln Continental, a vehicle that was created by his father. A year after his grandfather’s death in 1947, he was appointed to the company’s Board of Directors.
He had also served as the minority owner and president of Detroit lions since 1961, under which the team had a great run. He had served as the company’s Design Committee chairman for 32 years, from 1957 to 1989. He had also served on the board of directors for 57 years, ultimately retiring on the 12th of May 2005.
In 2013, he was worth $1.4 Billion. He was married to Martha Firestone Ford and had four children: Martha Parke Morse (b. 1948), Sheila Firestone Hamp (b. 1951), William Clay Ford, Jr. (b. 1957), and Elizabeth Hudson Ford Kontulis (b. 1961).
Martha Firestone Ford is currently the principal owner and chairwoman of the Detroit Lions of the National Football League (NFL). She is also serving on the board of the Henry Ford Health System. William Clay Ford, Jr. (b. 1957) is currently working as the executive chairman of the Ford Motor Company. He has previously served as the President, CEO, and COO of the company. He is also the vice-chairman of the Detroit Lions NFL franchise.
Awards and Achievements
Here is a list covering some of the Awards and Achievements earned by the Ford Family:
- In 2015, William Clay Ford, Jr. earned the Ambassador for Humanity Award by the USC Shoah Foundation Institute.
- William Clay Ford Jr. has earned several honorary degrees from reputed universities such as an honorary doctor of environmental sciences and an engineering degree from Koc University, honorary doctor of laws degree from the University of Michigan, honorary doctor of humane letters degree from Bradley University and more.
Net Worth of Ford Family in 2020
As of July 2020, Martha Firestone Ford has garnered a net worth of $1.4 Billion, and William Clay Ford, Jr. has garnered a net worth of $1 Billion.
Ford Family has made a great name for themselves in the automotive industry, and they continue to prosper with time. With that being said, we wish them the best of luck and health for all their future endeavors.