FORD SUPPLANTS ROCKEFELLER.
Estimates by Wall Street magnates show that Mr Henry Ford is now the richest man in the world, having overtaken Mr J. D. Rockefeller in the race for wealth. The Ford Motor Car Company's profits for the present year before the deduction of Federal taxes will he 125,000,000 dollars (£27,750,000). and after deduction of taxes 110,000,000 dolWall Street interprets these figures as lars (24,450,000)., meaning that the Ford Company could he capitalised at 2,000,000,000 dollars (£444,000,000), paying a 5 per cent, dividend. As Mr Ford is practically the sole proprietor of the Ford Company his fortune is double Mr Rockefeller's, which is estimated at 1,000,000,000 dollars (£222,000,000). Mr Ford has not only the world's largest fortune. He is also the world's largest individual banker, for Wall Street calculates that he is carrying 180,000,000 dollars (£40,000,000,000) in cash on hand, thus making him "a Wall Street unto himself." During the busy season lor the production of Ford cars his income is £IIO,OOO a day, hut there is a considerable falling off when the slack season comes. What will happen if Mr Ford continues to pile up money at this rate? The question, is asked in Wall street. and no one can answer it.
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Dunstan Times, Issue 3143, 13 November 1922, Page 7
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205FORD SUPPLANTS ROCKEFELLER. Dunstan Times, Issue 3143, 13 November 1922, Page 7
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