Milton Hershey had several failed business attempts before founding the successful Lancaster Caramel Company in the late 1800s. He used the profits to learn chocolate making techniques and founded the Hershey Chocolate Company in 1893. Hershey developed innovative chocolate products and the model town of Hershey, Pennsylvania to house his factory workers. He also established the Milton Hershey School, now one of the wealthiest schools in the world, through his philanthropic efforts.