Elias Howe's estimated profits from his invention, the sewing machine, totaled two million dollars at the time of his death in 1867. In today's currency, this amount is equivalent to $34 million.
Elias Howe's Financial Success
Elias Howe, Jr., achieved significant financial success through his groundbreaking invention, the lockstitch sewing machine. Despite early struggles and patent disputes, his persistent efforts eventually paid off handsomely.
- Original Profits: By October 3, 1867, the date of his passing in Brooklyn, New York, his accumulated profits were estimated to be two million dollars. This was a month after his seminal sewing machine patent had expired.
- Modern Valuation: To put this historical sum into perspective, financial experts estimate that two million dollars from 1867 would be equivalent to approximately $34 million in current monetary value. This remarkable fortune underscores the immense impact and profitability of his invention on the burgeoning textile industry and beyond.
The substantial wealth amassed by Howe highlights the significant commercial value of his innovation, which revolutionized clothing production and manufacturing worldwide.
| Timeframe | Estimated Profits (Original Value) | Estimated Profits (Today's Value) |
|---|---|---|
| At the time of his death (October 3, 1867) | Two million dollars | $34 million |
