Billy Durant: The Man Who Built General Motors, Lost It Twice and Kept Building
William C. “Billy” Durant built General Motors into an automotive giant, lost control of it, then fought his way back. He co-founded Chevrolet as part of that comeback, only to lose GM again a few years later. Durant’s life was full of bold bets and fresh starts, and his talent for building companies often came with a dangerous appetite for risk.
From Flint carriages to Buick
Durant was born in Boston on December 8, 1861, and grew up in Flint, Michigan, near his mother’s family. His grandfather, Henry H. Crapo, had been Michigan’s governor. Durant left school as a teenager to work in the family lumber business. He later tried several jobs, including selling cigars and working in insurance.
In 1886, Durant and J. Dallas Dort started the Flint Road Cart Company. They built a sales network before they had the capacity to make carts at scale. The business grew into Durant-Dort, one of the country’s largest carriage makers. By the time Durant turned to automobiles, he knew how to build a sales network and grow a company.
In 1904, Durant took over Buick, a struggling automaker in Flint. He had once been skeptical of automobiles, but he recognized Buick’s potential and put his sales experience to work. The company grew quickly. By 1908, Buick was producing more cars than Ford and Cadillac combined.
Building General Motors
Durant wanted one company that could bring automakers and suppliers together. On September 16, 1908, he incorporated General Motors in New Jersey as a holding company, starting with Buick. He soon added Oldsmobile, Cadillac, Oakland and parts makers. GM became a group of brands serving different customers, backed by a growing network of suppliers.
GM expanded quickly, and the cost of Durant’s acquisitions put pressure on its finances. When sales fell in 1910, bankers took control through a five-year voting trust. Durant lost day-to-day leadership, though he stayed on as a board member and vice president.
Chevrolet and the return to GM
Durant did not stay out of the car business for long. In 1911, he formed the Chevrolet Motor Car Company with Louis Chevrolet, a Swiss-born mechanic and Buick racing driver. Chevrolet brought his name and automotive expertise; Durant built the business. As Chevrolet grew, Durant gained a successful company of his own and a way to challenge the bankers’ control of GM.
Durant turned Chevrolet’s success into a route back to GM. In 1915, he arranged to exchange Chevrolet shares for GM stock. The deal closed in January 1916, restoring his control. By June 1, he was GM’s president again. The company reincorporated in Delaware later that year.
Durant’s second run at GM brought major additions: United Motors, Fisher Body, the General Motors Acceptance Corporation, which financed car purchases, and Frigidaire. These businesses took GM beyond car assembly. The company kept expanding, and the strain returned. Some projects performed poorly. Executives grew frustrated with Durant’s shifting priorities, and financial pressure mounted.
The second fall and Durant Motors
After World War I, a sharp downturn hit as GM continued to expand. Durant bought GM shares on margin to support the stock. When the price fell, he was left with heavy debts. In November 1920, financial backers took control of GM and Durant resigned as president.
Durant started over again. In 1921, he founded Durant Motors and launched several automobile brands, including Durant, Star and Flint. The company grew, but never became a major rival to GM or Ford. Durant also turned to Wall Street. The 1929 crash brought further losses. Durant Motors was liquidated in 1933, and Durant declared personal bankruptcy in 1936.
A bowling alley in Flint
In 1940, Durant opened North Flint Recreation, a bowling alley near the Buick plant. He hoped to turn it into a chain of family recreation centers and also operated an early drive-in restaurant. A stroke in 1942 ended his working life. He died in New York City on March 18, 1947, at age 85.
Durant was not an engineer or car designer. His gift was seeing how brands, suppliers, sales and financing could work together inside one large organization. That vision helped build GM and Chevrolet. His repeated losses also showed the cost of expanding faster than a business could safely sustain.
For visitors to the Tampa Bay Automobile Museum, Durant’s story adds the people and business decisions behind the cars. He built GM, helped create Chevrolet, lost control of GM twice and kept starting over. His life shows what one determined businessman could build, and the risks that came with his relentless drive to grow.