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Andrew Carnegie ( 1835 - 1919 )  Category ( Manufacturers ) [suggest a correction]
 

Few men will ever have the money or the opportunity to become a philanthropist but even if they do, they probably won’t be able to do as much as Andrew Carnegie because he was by many accounts, "the richest man in the world" and richer by a long-shot than today’s standards of wealth.

The story of Andrew Carnegie is definitely one of rags to riches, poverty to wealth. He was born in Scotland in 1835. The soon of a hand loom weaver, Andrew’s father and many of his family members were self educated. William Carnegie, Andrew’s father was an activist against import tariffs, specifically Corn Laws. Andrew Carnegie’s uncle, George Lauder introduced Carnegie to various historical greats and encouraged him to read Shakespeare as well as Robert Burns.

At the young age of thirteen, Andrew Carnegie immigrated to the US from Scotland. Colonel James Anderson had a personal library and allowed young men to use it for their own reading enjoyment. Carnegie took full advantage of the opportunity.

In 1851, Carnegie began working at the telegraph office which allowed him to get up close and personal with the theatre. Since he loved Shakespeare, it was one of the joys of the job because he was occasionally permitted to watch the plays without charge.

Thomas A. Scott of Pennsylvania Railroad employed Carnegie in 1853 and he became the telegraph operator. However, Carnegie’s goals were beyond being an operator of telegraph messages. He quickly moved up in the company. Scott would later help Carnegie find his initial investments. The profits from these investments helped Carnegie earn his first large fortune.

Andrew Carnegie’s investments were broad and included a partnership with the inventor of sleeping railroad cars, oil wells, and a steel rolling mill. He left Pennsylvania Railroad but he still had interests in the industry. The empire that he later created would be the combination of steel and iron to form the rails made of steel for railroad lines. In the 1800s, Carnegie Steel became the leading manufacture of steel, pig iron and coke (coal).

Later in Andrew Carnegie’s life, JP Morgan would initiate a buyout that would become one of the largest ever. United States Steel Corporation was the result of the buyout and the holdings were placed in a trust by JP Morgan. Andrew Carnegie retired. It was the largest transaction ever recorded. The buyout of Carnegie Steel would equate to $120 billion in today’s 2007 US dollars.

From 1901 until 1915, Carnegie engaged in philanthropy. He gave away millions of dollars and was particularly fond of donating money for libraries and education. Andrew Carnegie died in August of 1919.


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Title :The American Experience | Carnegie
 
 
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Title :Inventor Andrew Carnegie Biography
Description : Fascinating facts about Andrew Carnegie creator of the American Steel Industry in 1875.
 
 
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Title :Andrew Carnegie - Wikipedia, the free encyclopedia
 
 
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