Samuel Colt’s profile picture

Samuel Colt

Inventor
Samuel Colt’s profile picture
Net worth 2018: $15 Million
Industry: Scientists
Residence: Hartford, Connecticut, United States
Country: United States
BirthDay: 19 July 1814
Sigh: Leo
Died On: January 10, 1862
BIOGRAPHY

Samuel Colt was bornon 19 July 1814 in Hartford, Connecticut, United States, American, is Inventor. Samuel Colt was an American inventor and industrialist who designed and developed the world’s first handgun—better known as the ‘Revolver’—a hand held gun that could be fired multiple times without reloading. He founded the Colt’s Manufacturing Company and made it possible to commercially mass produce revolvers for the first time. He is one of those inventors who left an indelible mark on the weapons industry with his innovative gun designs. He had an interest in all things mechanical from an early age. As a teenager, he used to dismantle the gadgets in his house to understand how they worked. He had a special fascination with firearms and had a desire to develop a gun which could shoot multiple times without reloading. He got his idea for a ‘revolving’ cylinder when he embarked on a voyage aboard a ship. He observed the ship’s steering wheel that could spin or alternatively be locked in a fixed position through the use of a clutch. No doubt Colt was a brilliant inventor, but his initial business ventures failed miserably. But, his business picked up during the American war with Mexico when the Texas Rangers ordered 1,000 of his revolvers. His production and marketing techniques were ahead of his times and he successfully employed the assembly line production due to the usage of interchangeable parts. By the time of his death, he was hailed as someone who had revolutionized the weapons industry.

NET WORTH STATISTIC
2018

$15 Million

TIMELINE
1862

He was one of the wealthiest men in America at the time of his death in 1862

1856

In 1856, he married Elizabeth Jarvis, the daughter of the Rev

1846

The outbreak of the Mexican-American war in 1846 changed his fortunes as Captain Samuel Walker of the Texas Rangers wanted to order 1000 revolvers from Colt

1843

The burden of losses increased and the company was closed in 1843

1836

He started his own business for manufacturing and selling these firearms in 1836, but could not find enough buyers to profitably run the enterprise

1835

In 1835, he went to England and acquired his first patent

1830

In 1830, he embarked on voyage aboard the ship ‘Corvo’

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