John Deere’s name is synonymous with the tractor and equipment manufacturer that still bears his name. 140 years since his death in 1886, the one-time blacksmith would probably be quite astonished at how his cutting-edge plow has evolved. Beyond his talent for invention, Deere was also a savvy businessman and it was these perhaps lesser-known qualities that helped lay the foundation for his namesake company to eventually become one of the most successful equipment manufacturing and distribution businesses in the world.
John Deere was born in Rutland, Vermont, during the winter of 1804, the third son of William and Sarah Deere. His father left for England around 1808 in hopes of claiming an inheritance but was never heard from again, presumably having died at sea. As a result, Deere and his six siblings were raised solely by his mother. Their less-than-ideal financial circumstances meant he received a pretty rudimentary education. At age 17, he became an apprentice to a prosperous blacksmith named Captain Benjamin Lawrence.
By the age of 21, Deere had set up his own business, traveling around to different Vermont cities to offer his blacksmith services. He married Demarius Lamb in 1827, with whom he had nine children. In late 1836, at the age of 33, Deere was forced to leave Vermont for Illinois, facing bankruptcy and a faltering economy that would later become the Panic of 1837. With just $73 to his name and facing debtor’s prison in Vermont, it took him three weeks by canal boat, steamer, and wagon to arrive in Grand Detour. Luckily, business was brisk in his new city, and within a year, he’d paid his debt and sent for his family.
As he built his blacksmith business in this new part of the country, he observed that he was repairing a higher number of plows made with wood and cast-iron. He concluded that cast iron – designed for the light, sandy soils of the eastern U.S. – wasn’t properly suited to the sticky clay prairie soils. Deere began experimenting with new designs. The first was crafted from a broken steel saw blade, which he found worked well in the thick soil.
While his experiments produced many iterations, all were made of steel, which was much stronger than iron. Just as importantly, unlike cast iron, the dense soil didn’t stick to the steel, saving farmers the hassle and time of cleaning it off. His first steel plow was ready for sale by early 1838 and was sold to a local farmer, Lewis Crandall. His rave reviews helped convince two neighbors to place orders, capping the only three sales Deere had that first year. Deere kept experimenting, producing 10 improved plows in 1839 and 40 new plows in 1840. Perhaps slow by today’s standards, word about how well the new design worked also continued to spread, and by 1841, Deere was manufacturing 75–100 plows per year.
In 1843, Deere partnered with Leonard Andrus to help increase output, which was struggling to keep up with demand. The original factory in Rock River, Illinois, was named the “L. Andrus Plough Manufacturer”. However, the partnership became strained as Deere wanted to sell to customers outside Grand Detour, but Andrus was opposed to having a railroad run through Grand Detour. Recognizing that Grand Detour would lack the transportation capacity to grow the business he wanted, Deere sold Andrus his share of the business and moved to Moline, Illinois, in 1848.
Once in Moline, Illinois, which was located on the Mississippi River, Deere formed a partnership with Robert Tate and built a 1,440-square-foot factory the same year. John Gould was later brought in to manage the accounts. Production rose quickly, and by 1849, the Deere, Tate & Gould Company was producing over 200 plows a month. A two-story addition to the plant was built, allowing further production.
Deere bought out Tate and Gould’s interests in the company in 1853, and was joined in the business by his son, Charles Deere. The father-son team began manufacturing and selling other agricultural equipment, including planters, cultivators, and wagons. By 1857, the annual output of “The Plow that Broke the Plains” had risen to 10,000 units. In 1858, John Deere stepped away from day-to-day operations, putting his son Charles in charge, though he remained president of the company for the rest of his life.
Charles Deere originally joined the company at 16 as the bookkeeper and was just 21 when he took over. He went on to run the company for 49 years. Charles Deere also proved to be an outstanding businessman and expanded the business with his concept of independent wholesaler networks. Called “Branch Houses,” they helped to market and supply independently owned and operated retail outlets. The firm was incorporated as Deere & Company in 1868.
Later in life, John Deere focused most of his attention on civil and political affairs. He served as President of the National Bank of Moline, a director of the Moline Free Public Library, and was a trustee of the First Congregational Church. Deere also served as Moline’s mayor for two years. He even spent some of his time during retirement on a farm raising Jersey cattle and Berkshire Hogs. He died at home (known as Red Cliff) on May 17, 1886, at the age of 82. More than 4,000 people attended John Deere’s funeral to pay their final respects.
For What It’s Worth… One share of John Deere (DE) stock bought before September 22, 1972, would have turned into 24 shares today due to four stock splits (1972, 1976, 1995, 2007). Looking at a 20-year return, a $10,000 investment in Deere stock 20 years ago (circa 2002) would be worth close to $300,000 today. If you really want to say wow, think about this… Based on historical stock data, a $10,000 investment in John Deere (DE) at its 1972 IPO (roughly June/September 1972) would be worth approximately $9.9 million to $10 million as of early March 2026, assuming all dividends were reinvested and accounting for four stock splits (2-for-1 in 1972, 2-for-1 in 1976, 3-for-1 in 1995, and 2-for-1 in 2007). WOW!
