1909: General Motors Corporation acquired Cadillac, the leading luxury automaker at the time, for $4.5 million. Founded from the remains of Henry Ford's second failed company, Cadillac was revitalized under Detroit machinist Henry Leland. By adding Cadillac to its portfolio alongside Buick and Oldsmobile, GM strengthened its position in the auto industry, paving the way for its future as a major automobile manufacturer.