Lee Iacocca was born Lido Anthony Iacocca on October 15, 1924 to Nicola and Antonietta, Italian immigrants. Nicola first made the journey to Ellis Island in 1902 but returned to Italy years later where he fell in love with his bride-to-be. In 1921 he arrived at Ellis Island again, with Antonietta and his widowed grandmother by his side. Reflecting on his parents' decision to leave their homeland and voyage to America he says "I often wonder where I would be and what I would be doing if my parents had decided to remain in Italy. I'm sure my life would have taken a far different turn if it were not for my parents and their pursuit of the American dream."

Lee displayed his passion for hard work and managerial skills at a young age. When he was 10 years old, he would take his wagon to the grocery store and wait outside. As shoppers came out he would offer to pull their groceries home for them for a tip. By the time he was 16, he worked eight hours a day in a fruit market.

In 1945, Lee graduated from Lehigh University, in Bethlehem, PA. He then went on to receive a master's degree in engineering from Princeton University in 1946. Hired as an engineer by the Ford Motor Company, he quickly proved that he was better suited for sales. It was this shift that sparked an illustrious beginning for Lee and ushered in monumental achievements for Ford.

Lee met the love of his life, Mary McCleary, in 1948. Mary worked as a receptionist at the Ford Motor Company's Philadelphia office. Soon thereafter, at the age of 23, she was diagnosed with type 1 diabetes. After eight years of dating, Mary and Lee were married on September 29, 1956 and made a home in Bloomfield Hills, Michigan.

Lee's family was always of paramount importance. He and Mary had two daughters, Kathryn and Lia, who truly completed the Iacocca family. Despite his busy professional life, Lee was determined to balance his responsibilities at the office with those at home. He made sure he played a large role in his daughters' upbringing, never failing to provide them with his love and support.

In a career that spanned 40 years, Lee's maverick, street-smart, "thinking on your feet" approach induced breakthrough programs at Ford, such as the 56-56, a program which made it possible to purchase a new 1956 Ford for 20% down and $56.00 a month for 3 years.

Another legendary project that Lee undertook was the Fairlane Committee, the end product of which was the 1964 Mustang. It was this project that put Lee on the international platform and gave the world a glimpse of his business management style. His use of market research, his willingness to listen and his readiness to take risks introducing new products made him a strong business force. Lee, now known to some as the "Father of the Mustang," was made President of Ford on December 10, 1970.

By the end of 1975 Lee and Henry Ford II began to have a personality conflict. The tension continued to escalate, and Lee was fired in July of 1978. In 1979 he joined forces with Chrysler and advanced to the position of CEO.

Chrysler, having accumulated a huge inventory of low-mileage cars at a time of rising fuel prices, faced bankruptcy. Lee appealed to the federal government for aid, gambling that it would not allow Chrysler to fail when the national economy was already depressed. Although his request sparked intense debate over the role of government in a market economy, Congress in 1980 agreed to guarantee $1.5 billion in loans if the company could raise another $2 billion on its own. His philosophy encapsulated this idea: "To solve big problems you have to be willing to do unpopular things."

Iacocca then found new sources of credit by trimming operations, closing plants, and persuading labor unions to accept layoffs and wage cuts. He shifted the company's emphasis to fuel-efficient models and undertook an aggressive advertising campaign that included Lee appearing in television commercials. By 1981 Chrysler showed a small profit, and three years later it announced record profits of more than $2.4 billion. In August 1983, Chrysler paid off the federal government seven years early, at a profit of $350 million to the U.S. government.

On the heels of his success, President Ronald Reagan asked Lee to undertake a private sector fund-raising effort to restore both the Statue of Liberty and Ellis Island. The Statue of Liberty-Ellis Island Foundation was formed to raise the $230 million needed for the restoration of these two priceless national monuments. In the largest restoration project of its kind in American history, $170 million in individual and corporate donations were devoted to the Ellis Island main building project alone. To date, more than 20 million Americans have contributed to the restoration project.

In 1983, Lee suffered a personal and devastating blow. His beloved wife Mary died from diabetes complications after battling the disease for 34 years. She was only 57 years old. A year later, in 1984, The Iacocca Foundation was founded by Lee in memory of his late wife. The same year he published his autobiography, Iacocca, and gained celebrity status, selling seven million copies. He donated the proceeds from this book to his newly formed Foundation. Lee's daughter Kathryn became actively involved with this cause, becoming the Foundation's president. Under Kathryn's guidance, the Foundation began to fund innovative and promising research programs and projects that will one day lead to a cure.

Today, Lee and daughters Kathryn and Lia's ties are stronger than ever as they pursue the Foundation's mission.

Lee approaches diabetes with the same tenacity as he did running his businesses. He says, "Any of you who know me know that I love a challenge."