INDUSTRIALIST AND PHILANTHROPIST
Andrew Carnegie, having acquired his wealth during the nineteenth century, spent much of the early 1900s giving away large portions of his fortune to worthy causes. His wealth was primarily built from his domination of the American steel industry by his company, Carnegie Steel. By the turn of the century Carnegie had vertically integrated his holdings from ore to finished products and built his company into one of the world leaders in steel. When J. P. Morgan set up a financing coalition to purchase his business in 1901, Carnegie sold his 58 percent share of Carnegie Steel to the new U.S. Steel Corporation, making him one of the world's richest men.
Carnegie's prowess in getting wealth...Read more
- November 25, 1835
- August 11, 1919