Thomas A. Edison Net Worth

Thomas Edison was born in Milan, Ohio, and grew up in Port Huron, Michigan. He was the seventh and last child of Samuel Ogden Edison Jr. (1804–1896, born in Marshalltown, Nova Scotia) and Nancy Matthews Elliott (1810–1871, born in Chenango County, New York). His father, the son of a Loyalist refugee, had moved as a boy with the family from Nova Scotia, settling in southwestern Ontario (then called Upper Canada), in a village known as Shewsbury, later Vienna, by 1811. Samuel Jr. eventually fled Ontario, because he took part in the unsuccessful Mackenzie Rebellion of 1837. His father, Samuel Sr., had earlier fought in the War of 1812 as captain of the First Middlesex Regiment. By contrast, Samuel Jr.'s struggle found him on the losing side, and he crossed into the United States at Sarnia-Port Huron. Once across the border, he found his way to Milan, Ohio. His patrilineal family line was Dutch by way of New Jersey; the surname had originally been "Edeson."

Edison's family moved to Port Huron, Michigan, after the railroad bypassed Milan in 1854 and Business declined. Edison sold candy and newspapers on trains running from Port Huron to Detroit, and sold vegetables. He briefly worked as a telegraph operator in 1863 for the Grand Trunk Railway at the railway station in Stratford, Ontario, at age 16. He was held responsible for a near collision. He also studied qualitative analysis and conducted chemical experiments on the train until he left the job.

In 1866, at the age of 19, Edison moved to Louisville, Kentucky, where, as an employee of Western Union, he worked the Associated Press bureau news wire. Edison requested the night shift, which allowed him plenty of time to spend at his two favorite pastimes—reading and experimenting. Eventually, the latter pre-occupation cost him his job. One night in 1867, he was working with a lead–acid battery when he spilled sulfuric acid onto the floor. It ran between the floorboards and onto his boss's desk below. The next morning Edison was fired.

One of his mentors during those early years was a fellow telegrapher and Inventor named Franklin Leonard Pope, who allowed the impoverished youth to live and work in the basement of his Elizabeth, New Jersey, home. Some of Edison's earliest inventions were related to telegraphy, including a stock ticker. His first patent was for the electric vote recorder, U.S. Patent 90,646, which was granted on June 1, 1869.

Starting in the late 1870s, Thomas Edison became interested and involved with mining. High-grade iron ore was scarce on the east coast of the United States and Edison tried to mine low-grade ore. Edison developed a process using rollers and crushers that could pulverize rocks up to 10 tons. The dust was then sent between three giant magnets that would pull the iron ore from the dust. Despite the failure of his mining company, the Edison Ore Milling Company, Edison used some of the materials and equipment to produce cement.

On December 25, 1871, at the age of twenty-four, Edison married 16-year-old Mary Stilwell (1855–1884), whom he had met two months earlier; she was an employee at one of his shops. They had three children:

In 1876, Edison began work to improve the microphone for telephones (at that time called a "transmitter") by developing a carbon microphone, which consists of two metal plates separated by granules of carbon that would change resistance with the pressure of sound waves. A steady direct current is passed between the plates through the granules and the varying resistance results in a modulation of the current, creating a varying electric current that reproduces the varying pressure of the sound wave.

Edison used the carbon microphone concept in 1877 to create an improved telephone for Western Union. In 1886, Edison found a way to improve a Bell Telephone microphone, one that used loose-contact ground carbon, with his discovery that it worked far better if the carbon was roasted. This type was put in use in 1890 and was used in all telephones along with the Bell receiver until the 1980s.

Although the patent described several ways of creating the carbon filament including "cotton and linen thread, wood splints, papers coiled in various ways", it was not until several months after the patent was granted that Edison and his team discovered a carbonized bamboo filament that could last over 1,200 hours. The idea of using this particular raw material originated from Edison's recalling his examination of a few threads from a bamboo fishing pole while relaxing on the shore of Battle Lake in the present-day state of Wyoming, where he and other members of a scientific team had traveled so that they could clearly observe a total eclipse of the sun on July 29, 1878, from the Continental Divide.

After devising a commercially viable electric light bulb on October 21, 1879, Edison developed an electric "utility" to compete with the existing gas light utilities. On December 17, 1880, he founded the Edison Illuminating Company, and during the 1880s, he patented a system for electricity distribution. The company established the first investor-owned electric utility in 1882 on Pearl Street Station, New York City. On September 4, 1882, Edison switched on his Pearl Street generating station's electrical power distribution system, which provided 110 volts direct current (DC) to 59 customers in lower Manhattan.

As Edison expanded his direct current (DC) power delivery system, he received stiff competition from companies installing alternating current (AC) systems. From the early 1880s AC arc lighting systems for streets and large spaces had been an expanding Business in the US. With the development of transformers in Europe and by Westinghouse Electric in the US in 1885–1886, it became possible to transmit AC long distances over thinner and cheaper wires, and "step down" the voltage at the destination for distribution to users. This allowed AC to be used in street lighting and in lighting for small Business and domestic customers, the market Edison's patented low voltage DC incandescent lamp system was designed to supply. Edison's DC empire suffered from one of its chief drawbacks: it was suitable only for the high density of customers found in large cities. Edison's DC plants could not deliver electricity to customers more than one mile from the plant, and left a patchwork of unsupplied customers between plants. Small cities and rural areas could not afford an Edison style system at all, leaving a large part of the market without electrical Service. AC companies expanded into this gap.

The President of the Third French Republic, Jules Grévy, on the recommendation of his Minister of Foreign Affairs, Jules Barthélemy-Saint-Hilaire, and with the presentations of the Minister of Posts and Telegraphs, Louis Cochery, designated Edison with the distinction of an Officer of the Legion of Honour (Légion d'honneur) by decree on November 10, 1881; Edison was also named a Chevalier in the Legion in 1879, and a Commander in 1889.

Mahen Theatre in Brno (in what is now the Czech Republic), opened in 1882, and was the first public building in the world to use Edison's electric lamps. Francis Jehl, Edison's assistant in the invention of the lamp, supervised the installation. In September 2010, a sculpture of three giant light bulbs was erected in Brno, in front of the theatre.

In 1883, the City Hotel in Sunbury, Pennsylvania was the first building to be lit with Edison's three-wire system. The hotel was renamed The Hotel Edison upon Edison's return to the city on 1922.

Edison moved from Menlo Park after the death of his first wife, Mary, in 1884, and purchased a home known as "Glenmont" in 1886 as a wedding gift for his second wife, Mina, in Llewellyn Park in West Orange, New Jersey. In 1885, Thomas Edison bought property in Fort Myers, Florida, and built what was later called Seminole Lodge as a winter retreat. Edison and Mina spent many winters at their home in Fort Myers, and Edison tried to find a domestic source of natural rubber.

Edison expressed views that AC was unworkable and the high voltages used were dangerous. As George Westinghouse installed his first AC systems in 1886, Thomas Edison struck out personally against his chief rival stating, "Just as certain as death, Westinghouse will kill a customer within six months after he puts in a system of any size. He has got a new thing and it will require a great deal of experimenting to get it working practically." Many reasons have been suggested for Edison's anti-AC stance. One notion is that the Inventor could not grasp the more abstract theories behind AC and was trying to avoid developing a system he did not understand. Edison also appeared to have been worried about the high voltage from misinstalled AC systems killing customers and hurting the sales of electric power systems in general. Primary was the fact that Edison Electric based their design on low voltage DC and switching a standard after they had installed over 100 systems was, in Edison's mind, out of the question. By the end of 1887, Edison Electric was losing market share to Westinghouse, who had built 68 AC-based power stations to Edison's 121 DC-based stations. To make matters worse for Edison, the Thomson-Houston Electric Company of Lynn, Massachusetts (another AC-based competitor) built 22 power stations.

In 1887, Edison won the Matteucci Medal. In 1890, he was elected a member of the Royal Swedish Academy of Sciences.

Parallel to expanding competition between Edison and the AC companies was rising public furor over a series of deaths in the spring of 1888 caused by pole mounted high voltage alternating current lines. This turned into a media frenzy against high voltage alternating current and the seemingly greedy and callous lighting companies that used it. Edison took advantage of the public perception of AC as dangerous, and joined with self-styled New York anti-AC crusader Harold P. Brown in a propaganda campaign, aiding Brown in the public electrocution of animals with AC, and supported legislation to control and severely limit AC installations and voltages (to the point of making it an ineffective power delivery system) in what was now being referred to as a "battle of currents". The development of the electric chair was used in an attempt to portray AC as having a greater lethal potential than DC and smear Westinghouse at the same time via Edison colluding with Brown and Westinghouse's chief AC rival, the Thomson-Houston Electric Company, to make sure the first electric chair was powered by a Westinghouse AC generator.

The Philadelphia City Council named Edison the recipient of the John Scott Medal in 1889.

Wanting to be an Inventor, but not having much of an aptitude for it, Thomas Edison's son, Thomas Alva Edison Jr.. became a Problem for his father and his father's Business. Starting in the 1890s, Thomas Jr. became involved in snake oil products and shady and fraudulent enterprises producing products being sold to the public as "The Latest Edison Discovery". The situation became so bad that Thomas Sr. had to take his son to court to stop the practices, finally agreeing to pay Thomas Jr. an allowance of $35.00 (equivalent to $953 in 2017) per week, in exchange for not using the Edison name; the son began using aliases, such as Burton Willard. Thomas Jr., suffering from alcoholism, depression and ill health, worked at several menial jobs, but by 1931 (towards the end of his life) he would obtain a role in the Edison company, thanks to the intervention of his brother.

Edison was also granted a patent for the motion picture camera or "Kinetograph". He did the electromechanical design while his employee W. K. L. Dickson, a Photographer, worked on the photographic and optical development. Much of the credit for the invention belongs to Dickson. In 1891, Thomas Edison built a Kinetoscope or peep-hole viewer. This device was installed in penny arcades, where people could watch short, simple films. The kinetograph and kinetoscope were both first publicly exhibited May 20, 1891.

The key to Edison's fortunes was telegraphy. With knowledge gained from years of working as a telegraph operator, he learned the basics of electricity. This allowed him to make his early fortune with the stock ticker, the first electricity-based broadcast system. On August 9, 1892, Edison received a patent for a two-way telegraph.

Edison's film studio made close to 1,200 films. The majority of the productions were short films showing everything from acrobats to parades to fire calls including titles such as Fred Ott's Sneeze (1894), The Kiss (1896), The Great Train Robbery (1903), Alice's Adventures in Wonderland (1910), and the first Frankenstein film in 1910. In 1903, when the owners of Luna Park, Coney Island announced they would execute Topsy the elephant by strangulation, poisoning, and electrocution (with the electrocution part ultimately killing the elephant), Edison Manufacturing sent a crew to film it, releasing it that same year with the title Electrocuting an Elephant.

On May 14, 1895, the Edison's Kinétoscope Belge was founded in Brussels. The businessman Ladislas-Victor Lewitzki, living in London but active in Belgium and France, took the initiative in starting this Business. He had contacts with Leon Gaumont and the American Mutoscope and Biograph Co. In 1898, he also became a shareholder of the Biograph and Mutoscope Company for France.

Henry Ford, the automobile magnate, later lived a few hundred feet away from Edison at his winter retreat in Fort Myers. Ford once worked as an Engineer for the Edison Illuminating Company of Detroit and met Edison at a convention of affiliated Edison illuminating companies in Brooklyn, NY in 1896. Edison was impressed with Ford's internal combustion engine automobile and encouraged its developments. They were friends until Edison's death. Edison and Ford undertook annual motor camping trips from 1914 to 1924. Harvey Firestone and John Burroughs also participated.

In 1899, Edison was awarded the Edward Longstreth Medal of The Franklin Institute.

The Edison Storage Battery Company was founded in 1901. With this company Edison exploited his invention of the accumulator. In 1904 already 450 people worked at the company. The first accumulators were produced for electric cars. But there were several defects. Several Customers were complaining about the products. When the capital of the company was spent Edison paid for the company with his private money. Not until 1910 Edison showed a mature product: A Nickel-Iron-Battery with Lye as liquid.

The fundamental design of Edison's fluoroscope is still in use today, although Edison abandoned the project after nearly losing his own eyesight and seriously injuring his assistant, Clarence Dally. Dally made himself an enthusiastic human guinea pig for the fluoroscopy project and was exposed to a poisonous dose of radiation. He later died of injuries related to the exposure. In 1903, a shaken Edison said: "Don't talk to me about X-rays, I am afraid of them."

The Edison Medal was created on February 11, 1904, by a group of Edison's friends and associates. Four years later the American Institute of Electrical Engineers (AIEE), later IEEE, entered into an agreement with the group to present the medal as its highest award. The first medal was presented in 1909 to Elihu Thomson. It is the oldest award in the area of electrical and electronics engineering, and is presented annually "for a career of meritorious achievement in electrical science, electrical engineering or the electrical arts."

Edison became the owner of his Milan, Ohio, birthplace in 1906. On his last visit, in 1923, he was reportedly shocked to find his old home still lit by lamps and candles.

In 1908, Edison received the American Association of Engineering Societies John Fritz Medal.

Historian Paul Israel has characterized Edison as a "freethinker". Edison was heavily influenced by Thomas Paine's The Age of Reason. Edison defended Paine's "scientific deism", saying, "He has been called an atheist, but atheist he was not. Paine believed in a supreme intelligence, as representing the idea which other men often express by the name of deity." In an October 2, 1910, interview in the New York Times Magazine, Edison stated:

In 1915, Edison was awarded Franklin Medal of The Franklin Institute for discoveries contributing to the foundation of industries and the well-being of the human race.

In 1920, the United States Navy department awarded him the Navy Distinguished Service Medal.

He thought at length about the subject of money in 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System". In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced. During a publicity tour that he took with friend and fellow Inventor, Henry Ford, he spoke publicly about his Desire for monetary reform. For insight, he corresponded with prominent academic and banking professionals. In the end, however, Edison's proposals failed to find support and were eventually abandoned.

In 1923, the American Institute of Electrical Engineers created the Edison Medal and he was its first recipient.

In 1927, he was granted membership in the National Academy of Sciences.

On May 29, 1928, Edison received the Congressional Gold Medal.

In Detroit, the Edison Memorial Fountain in Grand Circus Park was created to honor his achievements. The limestone fountain was dedicated October 21, 1929, the fiftieth anniversary of the creation of the lightbulb. On the same night, The Edison Institute was dedicated in nearby Dearborn.

Edison was said to have been influenced by a popular fad diet in his last few years; "the only liquid he consumed was a pint of milk every three hours". He is reported to have believed this diet would restore his health. However, this tale is doubtful. In 1930, the year before Edison died, Mina said in an interview about him, "correct eating is one of his greatest hobbies." She also said that during one of his periodic "great scientific adventures", Edison would be up at 7:00, have breakfast at 8:00, and be rarely home for lunch or dinner, implying that he continued to have all three.

Edison was on hand to turn on the Lights at the Hotel Edison in New York City when it opened in 1931.

The United States Navy named the USS Edison (DD-439), a Gleaves class destroyer, in his honor in 1940. The ship was decommissioned a few months after the end of World War II. In 1962, the Navy commissioned USS Thomas A. Edison (SSBN-610), a fleet ballistic missile nuclear-powered submarine.

Edison's last breath is reportedly contained in a test tube at The Henry Ford museum near Detroit. Ford reportedly convinced Charles Edison to seal a test tube of air in the inventor's room shortly after his death, as a memento. A plaster death mask and casts of Edison's hands were also made. Mina died in 1947.

In the Netherlands, the major music awards are named the Edison Award after him. The award is an annual Dutch music prize, awarded for outstanding achievements in the music industry, and is one of the oldest music awards in the world, having been presented since 1960.

He was inducted into the Automotive Hall of Fame in 1969.

Lake Thomas A Edison in California was named after Edison to mark the 75th anniversary of the incandescent light bulb.

In 1983, the United States Congress, pursuant to Senate Joint Resolution 140 (Public Law 97—198), designated February 11, Edison's birthday, as National Inventor's Day.

This fleet of cars would serve commuters in northern New Jersey for the next 54 years until their retirement in 1984. A plaque commemorating Edison's inaugural ride can be seen today in the waiting room of Lackawanna Terminal in Hoboken, which is presently operated by New Jersey Transit.

"Camping with Henry and Tom", a fictional play based on Edison's camping trips with Henry Ford, written by Mark St.Gemain. First presented at Lucille Lortel Theatre, New York, February 20, 1995.

Life magazine (USA), in a special double issue in 1997, placed Edison first in the list of the "100 Most Important People in the Last 1000 Years", noting that the light bulb he promoted "lit up the world". In the 2005 television series The Greatest American, he was voted by viewers as the fifteenth greatest.

The American Society of Mechanical Engineers concedes the Thomas A. Edison Patent Award to individual patents since 2000.

In 2008, Edison was inducted in the New Jersey Hall of Fame.

In 2010, Edison was honored with a Technical Grammy Award.

On February 11, 2011, on what would have been Thomas Edison's 164th birthday, Google's homepage featured an animated Google Doodle commemorating his many inventions. When the cursor was hovered over the doodle, a series of mechanisms seemed to move, causing a lightbulb to glow.

Edison's work on rubber took place largely at his botanic research laboratory in Fort Myers, which has been designated as a National Historic Chemical Landmark. The laboratory was built after Thomas Edison, Henry Ford, and Harvey Firestone pulled together $75,000 to form the Edison Botanical Research Corporation. Initially, only Ford and Firestone were to contribute funds to the project while Edison did all the research. Edison, however, wished to contribute $25,000 as well. After testing over 17,000 plant species, Edison decided on Solidago leavenworthii, also known as Leavenworth's Goldenrod. The plant, which normally grows roughly 3–4 feet tall with a 5% latex yield, was adapted by Edison through cross-breeding to produce plants twice the size and with a latex yield of 12%.

In West Orange, New Jersey, the 13.5 acres (5.5 hectares) Glenmont estate is maintained and operated by the National Park Service as the Edison National Historic Site, as is his nearby laboratory and workshops including the reconstructed "Black Maria"—the world's first movie studio. The Thomas Alva Edison Memorial Tower and Museum is in the town of Edison, New Jersey. In Beaumont, Texas, there is an Edison Museum, though Edison never visited there. The Port Huron Museum, in Port Huron, Michigan, restored the original depot that Thomas Edison worked out of as a young news butcher. The depot has been named the Thomas Edison Depot Museum. The town has many Edison historical landmarks, including the graves of Edison's parents, and a monument along the St. Clair River. Edison's influence can be seen throughout this city of 32,000.

A bronze statue of Edison was placed in the National Statuary Hall Collection at the United States Capitol in 2016, with the formal dedication ceremony held on September 20 of that year. The Edison statue replaced one of 19th-century state governor william Allen that had been one of Ohio's two allowed contributions to the collection.