What would you do with one million dollars at the age of 18? Would you save it? Spend it? I know that I would invest it, but risk it? This single defining trait makes all the difference in an entrepreneur. Howard Hughes is an entrepreneur. He would rather decide to risk his money in order for large incentive, and he did exactly that, many times over. Howard Hughes was born in Houston, Texas on December 24th, 1905 . Hughes was born into a rich family, after his father had invented the two cone drill bit mainly used for oil drilling. Hughes was left one million dollars, and the Sharp-Hughes tool company in 1924 after his father’s unexpected death. Hughes mother had died two years prior . It was in 1925 that Hughes set his sail towards Hollywood. …show more content…
These are the exact risks that an entrepreneur takes, and luckily it paid off big with Hughes next film “Two Arabian Knights”, which earned an academy award for best comedy direction . No Hughes did not stop there, His next films “Hell’s Angels”, “The Jazz Singer”, and later on, “The Outlaw” all did exceedingly well.
Now Hughes had nearly everything he wanted, besides one thing, the fulfilment of his love of flight. Hughes took a break from filming after “Hell’s Angels” and established the “Hughes Aircraft Co.”in 1932 . Hughes main Purpose of the “Hughes Aircraft Co.” was to beat the world record for fastest aircraft speed, and he did so in 1965 with the Hughes H-1 Racer. The fly by clocked in at a record 352 MPH .
Two years after, Hughes set a record for transcontinental U.S. speed journeying from Burbank California, to Newark New Jersey, in 7 hours, 28 minutes and 25 seconds . July 10, 1938, Hughes and his four man crew took flight from Brooklyn’s Floyd Bennett Field for his first try at making an around-the-world flight. His first stop was Saybrook, Connecticut, Then Paris, Moscow, Omsk and Yakutsk (both in Siberia), Fairbanks and Minneapolis for refueling, before touching base back in Brooklyn. After landing, thousands of spectators greeted Hughes, who had set a new record for circumnavigating the
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This contract would lead to many disasters down the road such as the trial about Hughes stalling and stealing money from the government while building the H-4 Hercules (better known as the spruce goose), and the dis-evolvement of the government after the end of WWII. Hughes won his court hearing with the quote “The Hercules' was a monumental undertaking. It is the largest aircraft ever built... I put the sweat of my life into this thing.”. Now since the war had ended and the Government has pulled out of production of the H-5, there wasn’t much left to do for Hughes but finish the plane, and that’s what he did. Hughes flew the first and only flight of the “Spruce Goose”, which was known as the biggest flop in aviation