Pierre du Pont: Gunpowder is a Good Business

Pierre du Pont was a chemist who had a significant contribution to the industry of gunpowder in the US. He was born in Wilmington, Delaware on January 15, 1870. He took up chemistry at MIT and graduated in 1890. Together with Francis du Pont, his cousin, Pierre developed the first smokeless gunpowder in the US in 1892.

In 1902, Pierre and his cousins Coleman and Alfred, acquired the E.I. du Pont de Nemours & Co. after the president Eugene du Pont died in order to keep the company in the hands of the du Ponts. During that time, the company started buying smaller gunpowder firms. When Coleman got ill, Pierre eventually became the company’s president.

While serving as president, Pierre restructured the company and placed special focus on accounting policies. Return on investment became a primary accounting policy. During the World War I, the company grew big because of the advance payments received from the munition contracts with the Allied Forces.

Pierre became an important figure in the success of the automobile giant General Motors. His investments with the company made him a member of GM’s board. When he retired from GM’s board, the company was recognized as the largest automobile manufacturer in the world.