Ford Motor Company is an American automaker and the world's third largest automaker based on worldwide vehicle sales. Based in Dearborn, Michigan, a suburb of Detroit, the automaker was founded by Henry Ford, and incorporated on June 16, 1903. Henry Ford's initial foray into automobile manufacturing was the Detroit Automobile Company, founded in 1899. The company floundered, and in 1901 was reorganized as the Henry Ford Company. In March 1902, after falling out with his financial backers, Ford left the company with the rights to his name and 900 dollars.