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The senior Hughes made the shrewd and lucrative decision to commercialize the invention by leasing the bits instead of selling them, obtaining several early patents, and founding the Hughes Tool Company in 1909. Hughes' uncle was the famed novelist, screenwriter, and film director Rupert Hughes. [12]
The manufacturing operations of Hughes' Sharp-Hughes Tool Company at 2nd and Girard Streets in Houston, Texas. Hughes Sr. married Allene Stone Gano, on June 24, 1904, in Dallas County, Texas, and engaged in various mining business endeavors before capitalizing on the Spindletop oil discovery in Texas, as a result of which he began devoting his full time to the oil business.
The company was renamed Hughes Tool Company on February 3, 1915. [ 2 ] After Hughes Sr. died of a heart attack in 1924, his son Howard Jr. inherited the majority interest in the company, and then convinced his relatives to sell their shares to him as well.
In November 1925, at the age of 36, Dietrich met 19-year-old Hughes, who had gained control of Hughes Tool Company after buying out the other family heirs. Started by his father, Howard R. Hughes, Sr., Hughes Tool Company – or Toolco – manufactured oil drilling equipment, especially the multiple-edge, revolving-teeth roller cutter drill bits the elder Hughes invented.
It was established in 1908 as a manufacturer of oil drilling tools. Under the ownership of Howard Hughes, the company expanded over the years into various other businesses, including aviation, media, and casino hotels. In 1972, the company sold its tool business to investors via an initial public offering as a new entity named Hughes Tool Company.
The Hughes Aircraft Company was a major American aerospace and defense contractor founded on February 14, 1934 by Howard Hughes in Glendale, California, as a division of Hughes Tool Company. [1] The company produced the Hughes H-4 Hercules aircraft, the atmospheric entry probe carried by the Galileo spacecraft , and the AIM-4 Falcon guided ...
A list of books and essays about Howard Hughes: . Barlett, Donald L. (1 January 1981). Empire: The Life, Legend, and Madness of Howard Hughes. W. W. Norton ...
In 1902, Sharp, Ed Prather, and Howard Hughes Sr., founded the Moonshine Oil Company. In 1905, Producers Oil, a Texaco affiliate, bought Moonshine Oil. [3] Sharp was also co-founder of the Sharp-Hughes Tool Company, which was renamed the Hughes Tool Company on Sharp's death in 1912 after Sharp's widow Estelle sold her shares to Hughes.