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His stubbornness about not producing a new type of car not only made him drop to the third largest producer, but he also lost almost half of his fortune. After this event, Ford knew that his time was up. So in 1945, in his early 80's, Henry Ford stepped down as the owner of Ford Motor Company. When he did so, he handed the business over to his grandson, Henry Ford II. The new Henry Ford started producing new state of the art cars. Once again, Ford's sales went skyrocketing and they were back up at the number two spot of the producer of all cars. Two years after Henry Ford stepped down from his position at Ford Motor Company, he passed away at the age of 84...
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