King Kamp Gillette set his goal of inventing an object that would make him rich and he achieved it, but it didn’t end as he expected.
The year was 1895 and trends were changing along with the century. The long beards were no longer used as before and it was more normal to have a completely shaved face or a neatly trimmed mustache. There were two possibilities to achieve this look: spend a fortune at the barbershop to avoid all kinds of cuts or messes, or do it at home with its respective risks.
It was there when King Camp Gillette came up with a disposable productinspired by his boss, the inventor William Painter, creator of bottle caps. Then he discovered that he had to invent a knife that could be disposable and low-cost to avoid losses, but at the same time easier to manipulate so people could shave at home.
First Gillette
How King Camp Gillette became a millionaire
When he contacted experts, they all told him it was impossible. Even his friends made fun of him, but in 1900 he met William Nickerson, who took on the production. He got 5 thousand dollars and created the American Safety Razor firm.which a year later would be renamed Gillette Safety Razor. Unfortunately the capital was quickly exhausted, so John Joyce had to appear, who invested in exchange for being the majority shareholder.
Despite the success of his invention, Gillette continued to work as a bottle cap salesman and in 1904 he was informed that he would be transferred to London. Gillette asked Joyce for a paid position in his company, but he objected and the founder had to resign and move. For years the company operated without him, but he returned to the country when he learned that Joyce planned to sell the firm. This is how he gained control of the company.
Why King Camp Gillette lost much of his fortune
In 1910 Joyce decided to buy the entire stake in the company for the sum of $900,000 from Gillette plus an annual payment for the patents he had in his name. Gillette was still in the company but doing almost nothing. He lost almost all his fortune with the crisis of 1929 and died in 1933.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
