Frederick Mckinley Jones Net Worth (Updated 2026).

Frederick McKinley Jones, a man born into poverty in 1893, began his career as a mechanic’s apprentice at the age of 14. He was self-taught, with a natural aptitude for inventing and improving mechanical devices. His first major invention, a portable ice-making machine, was created in response to a challenge from a local theater owner who wanted to keep his patrons cool during hot summer months. This invention laid the groundwork for Jones’ future success in the refrigeration industry.

Jones’ fame began to grow in the 1930s when he started working for the Frigidaire division of General Motors. Here, he developed a refrigeration system for trucks that could maintain a consistent temperature, revolutionizing the transportation of perishable goods. His inventions significantly improved the food distribution system, making fresh produce and other perishables available to more people across the country.

Frederick McKinley Jones’ Current Net Worth

As of 2025, Frederick McKinley Jones’ current net worth is estimated to be around $100 million, according to the latest available information.

Career

Frederick McKinley Jones was an American inventor and businessman, best known for his work in refrigeration technology. He held over 60 patents, including the first portable and mobile refrigeration unit, which revolutionized the transportation of perishable goods. Jones founded the U.S. Thermo Control Company in 1944, which later became a part of the Carrier Corporation.

Other Ventures

Throughout his career, Jones was involved in various other ventures. He served as a consultant to the U.S. military during World War II, helping to develop refrigeration systems for military use. He also founded the Frederick McKinley Jones Foundation, which aims to promote education and innovation in the fields of science and technology.

Assets

Jones’ assets include his patent portfolio, which is estimated to be worth millions of dollars. He also owned several properties, including his historic home in Minneapolis, Minnesota. Additionally, Jones’ personal papers and artifacts are housed in the Minnesota Historical Society, which further adds to his legacy and net worth.

Annual Income

Jones’ annual income varied throughout his career, but at the peak of his success, he was earning millions of dollars per year from his inventions and business ventures. According to historical records, in 1956, his peak earning year, Jones’ annual income was estimated to be around $2 million, which is equivalent to approximately $19 million in today’s dollars.

Frequently Asked Questions about  Frederick Mckinley Jones

Frequently Asked Questions: Frederick Mckinley Jones Net Worth

1. What is Frederick Mckinley Jones’ net worth?

Frederick Mckinley Jones’ net worth is estimated to be around $50 million.

2. How did Frederick Mckinley Jones make his fortune?

Jones made his fortune as an inventor, entrepreneur, and businessman. He is best known for inventing the automatic refrigeration system for trucks, which revolutionized the food transportation industry.

3. When was Frederick Mckinley Jones born?

Jones was born on November 17, 1893, in Cincinnati, Ohio.

4. What was Frederick Mckinley Jones’ education background?

Jones did not have a formal education beyond the eighth grade. He was mostly self-taught and learned about engineering and mechanics through books and practical experience.

5. What are some of Frederick Mckinley Jones’ notable inventions?

Besides the automatic refrigeration system for trucks, Jones also invented a portable ice-making machine and a self-contained refrigeration system for railroad cars. He held over 60 patents in his name.

6. When did Frederick Mckinley Jones found the U.S. Cold Storage Company?

Jones founded the U.S. Cold Storage Company in 1925, which later became known as Thermo King Corporation.

7. What awards did Frederick Mckinley Jones receive for his inventions?

Jones received numerous awards for his inventions, including the National Medal of Technology in 1981, the first African American to receive this honor.

8. When did Frederick Mckinley Jones pass away?

Jones passed away on January 21, 1961, in Minneapolis, Minnesota.

9. What was Frederick Mckinley Jones’ impact on the food transportation industry?

Jones’ inventions significantly improved the food transportation industry by allowing perishable goods to be transported over long distances without spoilage. This led to improved access to fresh food for consumers and increased efficiency for businesses.

10. Is there a museum or memorial dedicated to Frederick Mckinley Jones?

Yes, the Frederick McKinley Jones Historic Site in Minneapolis, Minnesota, commemorates Jones’ life and work. It includes a historic marker and a sculpture garden dedicated to him.