Howard Hughes: The Aviator - the Hughes Aerospace Group
Time: 1948
Place: U.S.
Details: In 1948, Hughes created a new division of the company: the Hughes Aerospace Group. The Hughes Space and Communications Group and the Hughes Space Systems Division were later spun off in 1948 to form their own divisions and ultimately became the Hughes Space and Communications Company in 1961. In 1953, Howard Hughes gave all his stock in the Hughes Aircraft Company to the newly formed Howard Hughes Medical Institute, there by turning the aerospace and defense contractor into a tax-exempt charitable organization.
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