Henry Ford spent his massive wealth in a number of ways. He collected what he termed "relics of pre-industrial America" and showcased them in his museum, The Edison Institute, located in Dearborn, Mich. He also used some of his money to invest in the then quickly growing aviation industry.Continue Reading
Henry Ford's involvement in the aviation industry ended up being an unsuccessful venture. However, his Ford Trimotor was a staple airplane for many airlines across the country at the time. Ford was an ardent pacifist and detested war. He was deeply affected by the large-scale casualties of World War I, and he decided to spend some of his fortune on a ship he called the Peace Ship. He sailed this ship to Europe in 1915 with the sole purpose of ending the war.
Additionally, Ford spent some of his wealth running for public office. President Woodrow Wilson convinced Ford to run for the U.S Senate in 1918. However, Ford was unsuccessful in his bid. In 1915, Ford started a health care system, known now as the Henry Ford Health System. Today, this health care network brings in more than $1.7 billion for Michigan and houses a level-1 hospital, Henry Ford Hospital, located in Detroit.Learn more about Industrial Revolution