Who Founded 3M and When
3M was founded in 1902 in Two Harbors, Minnesota, by five businessmen: Henry S. Bryan, J. Danley Budd, Hermon W. Cable, John Dwan, and William A. McGonagle. They initially formed the Minnesota Mining and Manufacturing Company to mine corundum for grinding wheels, but the venture quickly shifted to sandpaper and abrasives when the mineral source proved unreliable. The company relocated to St. Paul in 1910 and later moved its headquarters to Maplewood, Minnesota, where it remains today. The original founders pooled capital and took leadership roles in the early corporate structure, setting the stage for a long history of product innovation. You can read about the company's early legal filings and corporate history on the SEC website here.
While the five founders are credited with establishing the company, 3M's identity as an innovation-driven conglomerate was shaped more by later leaders than by any single founder. William L. McKnight joined the company in 1907 and became president in 1929, introducing a decentralized management style that encouraged employee experimentation. This culture led to breakthroughs such as masking tape in 1925 and Post-it Notes in the 1970s. The founders' initial mining focus faded quickly, and the company reinvented itself through a series of product pivots and acquisitions. 3M's transformation from a small mining outfit to a diversified manufacturer is well documented in business profiles on Forbes here.
3M's Early Products and Brand Evolution
From Sandpaper to Adhesives
The company's first profitable product was an abrasive paper made from rejected corundum crystals, which laid the foundation for its future in adhesives and tapes. By the 1920s, 3M had developed masking tape, later branded as Scotch tape, which became a household name and a major revenue driver. In the following decades, the company expanded into reflective materials, electrical insulation, and medical products, building a portfolio of brands that includes Post-it, Scotch, Thinsulate, and Nexcare. Each product line traces back to a culture of internal venture creation that the founders and early managers institutionalized.
Global Expansion and Diversification
3M began international expansion in the early 20th century, establishing operations in Canada and the United Kingdom before World War II. After the war, the company grew rapidly through both organic innovation and strategic acquisitions, entering markets in Europe, Asia, and Latin America. Today, 3M operates in more than 70 countries and reports annual revenues in the billions, with major divisions in safety, healthcare, electronics, and consumer goods. The company's global footprint and brand recognition reflect decisions made by generations of leaders who built on the founders' original emphasis on manufacturing and materials science.
Founders' Legacy and Modern 3M Structure
Corporate Governance and Leadership
3M is currently a publicly traded company listed on the New York Stock Exchange under the ticker MMM, with a board of directors and executive leadership team overseeing global operations. The original founders no longer have a direct role, but their early vision of a decentralized, innovation-focused organization remains embedded in the company's governance model. 3M has consistently ranked among the Fortune 500 and is recognized as a large-cap industrial