Beatrice Lang
General Electric Company (GE) is an American multinational conglomerate headquartered in Boston, Massachusetts. It was founded in 1892 following a series of mergers between Thomas Edison's companies and the Thomson-Houston Electric Company. GE was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average in 1896 and has since become one of the largest and most diversified corporations in the world, with products ranging from aircraft engines to financial services.
| Characteristics | Values |
|---|---|
| Year founded | 1892 |
| Month founded | April |
| Founder | Thomas Edison |
| Founding location | Schenectady, New York |
| Founding companies | Edison General Electric Company, Thomson-Houston Electric Company, and one other company |
| Type of business | Multinational conglomerate |
| Headquarters | Boston, Massachusetts |
| Areas of business | Aerospace, energy, healthcare, lighting, locomotives, appliances, and finance |
| Ranking in 2023 | 64th in the Forbes Global 2000 |
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What You'll Learn
General Electric was founded in 1892
General Electric Company (GE) was founded in 1892 following a series of mergers between various companies owned by Thomas Edison and the Thomson-Houston Electric Company. GE was born out of a merger between Thomas Edison's Edison Electric Company and the Thomson-Houston Electric Company, which was arranged by financier J.P. Morgan.
GE was incorporated in 1892, acquiring all the assets of the Edison General Electric Company and two other electrical companies. Edison General had been founded as the Edison Electric Light Company in 1878 by Thomas Edison to market his incandescent lamp and other later products. Edison remained associated with General Electric through his patents and consulting duties.
GE would go on to produce one of the largest lines of electrical industrial and consumer goods in the world, later establishing an industrial research laboratory in 1900, where many of its later products were developed by in-house scientists.
From the beginning of its 132-year history, GE was at the forefront of innovation. In 1877, Thomas Edison recorded and replayed spoken words for the first time. Those words were a nursery rhyme, and they were spoken by Edison himself: "Mary had a little lamb, its fleece was white as snow. And everywhere that Mary went, the lamb was sure to go." The original recording was destroyed, but Edison re-recorded it decades later.
GE has since become a major American corporation and one of the largest and most diversified corporations in the world. Its products include electrical and electronic equipment, aircraft engines, and financial services.
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The company was created through a series of mergers
The General Electric Company (GE) was founded in 1892 following a series of mergers between various companies owned by Thomas Edison and the Thomson-Houston Electric Company. The company was originally called Edison General Electric, reflecting Edison's role in its creation.
In 1889, Thomas Edison had business interests in several electricity-related companies, including the Edison Lamp Company, Edison Machine Works, Bergmann & Company, and the Edison Electric Light Company. That year, Drexel, Morgan & Co.—a company founded by J.P. Morgan and Anthony J. Drexel—financed Edison's research and helped merge several of his separate companies under one corporation. This corporation was Edison General Electric, which was formed when Edison's company merged with two other electrical companies.
Over the years, GE continued to grow and diversify through mergers and acquisitions. In 1911, GE absorbed the National Electric Lamp Association (NELA) into its lighting business, and in 1919, GE's then-general counsel and vice president, Owen D. Young, founded the Radio Corporation of America (RCA) after purchasing the Marconi Wireless Telegraph Company of America. GE used RCA as its retail arm for radio sales. In 1926, RCA co-founded the National Broadcasting Company (NBC), and in 1986, GE repurchased RCA, including NBC. In 1987, GE sold RCA's consumer electronics division to Thomson SA, a French firm, and purchased Thomson's medical technology division. In 1989, GE combined its European business interests with the British corporation, the General Electric Company.
GE's business lines have historically spanned a wide range of sectors and industries, including electrical and electronic equipment, aircraft engines, financial services, and consumer products. The company has been known for its innovation and technological advancements, with a strong focus on research and development since its early years.
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Thomas Edison was a founder
The General Electric Company (GE) was founded in 1892 in Schenectady, New York, following a series of mergers between various companies owned and operated by Thomas Edison and the Thomson-Houston Electric Company.
In 1892, one of Edison's companies merged with another electric company to form General Electric. This new company acquired all the assets of Edison General Electric and two other electrical companies. Edison remained associated with GE through his patents and consulting duties. GE went on to produce one of the largest lines of electrical industrial and consumer goods in the world.
GE has been at the forefront of innovation since its founding. In 1900, the company established an industrial research laboratory where many of its later products were developed by in-house scientists. Through the late 19th and 20th centuries, GE became a global powerhouse known for its pioneering and innovative technological advancements and its ability to reshape industries. The company has been involved in a wide range of sectors and industries, including electrical and electronic equipment, aircraft engines, and financial services.
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GE was one of the 12 original companies on the Dow Jones Industrial Average
The General Electric Company (GE) was founded in 1892 through the consolidation of Thomas Edison's various electricity-related companies. GE was one of the original 12 companies listed on the Dow Jones Industrial Average when it was formed in 1896. The other 11 companies were:
- American Cotton Oil
- American Sugar
- American Tobacco
- Chicago Gas
- Distilling & Cattle Feeding
- Laclede Gas
- National Lead
- North American
- Tennessee Coal and Iron
- U.S. Leather
- U.S. Rubber
GE remained on the Dow Jones Industrial Average for 122 years, though not continuously. It was removed in 2018, making it the last of the original 12 companies to be delisted.
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The company has since split into three separate businesses
The General Electric Company (GE) was founded in 1892 through a series of mergers between Thomas Edison's companies and the Thomson-Houston Electric Company. Over the years, GE has had multiple divisions, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance.
In 2021, GE's final CEO, Larry Culp, announced that the company would be broken up into three separate public companies by 2024. This decision marked the end of a storied company that was once a fixture of American life, providing families with everything from appliances and light bulbs to mortgage financing. The three new companies that emerged from the split are:
- GE Aerospace (the aerospace company): GE Aerospace is the legal successor to the original GE and has taken on its name and ticker symbols. It focuses on aviation and jet engines, which have been a significant part of GE's business since the 1940s.
- GE HealthCare (the healthcare company): This company was spun off from GE in 2023 and focuses on healthcare technologies, a business GE entered in the 1980s.
- GE Vernova (the energy company): GE Vernova was founded when GE finalized the split and focuses on wind power and renewable energy solutions, which have become increasingly important in the energy sector.
Each of these three companies now operates independently, with GE Aerospace carrying on the original GE name and legacy. The split allows each new company to focus on its specific area of expertise and adapt to the changing needs of the market.
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Frequently asked questions
The General Electric Company (GE) was founded in 1892, following a series of mergers between various companies owned and operated by Thomas Edison and the Thomson-Houston Electric Company.
GE was founded from the merger of Edison General Electric Company and two other electrical companies. Edison General Electric was founded by Thomas Edison in 1878 to market his incandescent lamp.
GE was founded by Thomas Edison and financiers J.P. Morgan and Anthony J. Drexel.
