|
Andrew
Carnegie
is a famous industrialist, businessman,
and philanthropist of the late nineteenth
and early twentieth centuries. He built
the Carnegie Steel Company (which eventually
became U.S. Steel) through which Carnegie
amassed a fortune. He used his money to
found the Carnegie Corporation of New
York, the Carnegie Mellon University,
and the Carnegie Endowment for International
Peace as well as numerous libraries and
educational foundations.
Andrew
Carnegie was born on November 25, 1835
in Dunfermline in the United Kingdom and
immigrated with his parents to the U.S.
in 1848. Carnegie and his family settled
in Allegheny, Pennsylvania where, at the
age of 13, Carnegie took his first job
as a bobbin boy at a local cotton mill.
He worked for twelve hours a day, six
days a week for $1.25 per week in wages.
Two years later Carnegie took a job as
a messenger boy for the Ohio Telegraph
office in Pittsburgh for $2.20 a week.
While
working as a messenger, Carnegie was exposed
to the works of Robert Burns as well as
to the theatre. His uncle, a grocer in
Dunfermline, introduced young Carnegie
to the writings of Robert Burns and had
him memorize his teachings on democracy
and the heroic tales of Rob Roy, Robert
the Bruce, and William Wallace. In addition
to his readings, Carnegie would often
convince theatre managers to let him watch
shows for free after delivering messages.
The works of Burns and the art of Shakespeare
helped Carnegie form ideas and passions
that lasted his entire life.
Carnegie
had little formal education. Instead,
the boy was mostly self-taught; educating
himself with the help of Colonel James
Anderson who opened his library to working
boys once a week. Carnegie always borrowed
books and eventually taught himself economics,
culture, and the telegraph. His study
of the telegraph led him to his next job
with the Pennsylvania Railroad Company
in 1853 as a telegraph operator.
Carnegie
quickly advanced through the business
and became the the superintendent of the
Pittsburgh Division of the Railroad at
the age of eighteen. Two years later Carnegie
began investing his savings and put $500
into a firm called Adams Express. The
firm was very successful and helped Carnegie
build capital which he continued to reinvest
in the industry. . He bought stock in
sleeping cars and railroad industries,
including iron and rails, which helped
him accumulate more capital for later
investments.
His
interest in sleeping cars gave Carnegie
the connections to assist the Union army
during the civil war, too. With his railroad
connections, Carnegie was able to move
the army and munitions to battle and his
travels opened investment opportunities
in oil and iron that were needed for the
war. It was the introduction to the steel
and iron businesses (needed to make gunboats,
cannons and shells for war) that gave
Carnegie the motivation to focus on steel
as his next project venture.
Once
the Civil War ended, Carnegie left the
railroad business and focused on ironworks.
He formed The Keystone Bridge Works and
the Union Ironworks, both of which helped
build and develop better infrastructure
for the Pennsylvania Railroad Company.
His passion for steel and business eventually
led him to purchase a rival company, Homestead
Steel Works in 1888 which included coal
and iron fields, a railway, and a line
of steamships. With his new assets, Carnegie
formed the Carnegie Steel Company in 1892.
By this time Carnegie had already purchased
multiple other steel companies and was
known as the largest steel producer in
the U.S.
In
1901, Carnegie, with the help of John
Pierpont Morgan, consolidated his companies
and eliminated duplications between them,
helping to make Carnegie's businesses
run more efficiently under one system.
The new company was named the United States
Steel Corporation. Morgan organized a
trust which held the holdings of the company
and allowed Carnegie to retire from business.
The company was then bought out by Charles
M. Schwab for an estimated $480 million.
Carnegie retired with over $250 million
in personal wealth.
With
this large sum of money, Carnegie set
out to fund schools and libraries in hopes
of educating the world. After his retirement
in 1901, Carnegie spent most of his time
creating and promoting libraries in the
United Kingdom as well as the United States.
He also donated millions to universities
and formed the Carnegie Institute of Technology
(now part of Carnegie Mellon University)
and gave $2 million to assist in Scottish
universities.
In
addition to educational institutions,
Carnegie promoted and funded organizations
dedicated to the education of African-Americans,
built the Carnegie Hall in New York City,
founded the Carnegie Hero Fund and the
Carnegie Endowment for International Peace.
Andrew
Carnegie died on August 11, 1919 in Lenox,
Massachusetts and is buried at Sleepy
Hollow Cemetery.
This Andrew Carnegie biography
may not be reproduced online.
Copyright © Woopidoo.com (ek)
|
Bookmark