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Andrew Carnegies Biography

In: Historical Events

Submitted By macarenariestra
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Andrew Carnegie was one of the most successful businessmen and most recognized philanthropists in history. He led the enormous expansion of the American steel industry in the late 19th century and became one of the richest men in the world. He used his innovative ideas and his determination to succeed to build one of the greatest family fortunes in the history of America. Not similar to others, Carnegie’s idea of being rich meant having the ability to help others; he contributed to the construction of free public libraries, improvement of education, and promoted international law and international peace. He used his fortune to improve conditions in society and the economy and this is why history will record him as the most influential person of the Twentieth Century. bibiography Andrew Carnegie was born in Dunfermline, Fife, Scotland, on November 25, 1835.He was the oldest child of Margaret and Will Carnegie. Carnegie's father worked as a linen weaver and was part of a British working class movement in Scotland, which believed in making conditions better for the working man. Carnegie’s mom earned money by binding shoes. The family lived in a weaver’s cottage with only one main room. Carnegie’s was a poor, but humble class working family that taught him strong values that he would successfully use later on in his life to help other’s.In 1848, fearing for the survival of their family, the Carnegies soon decided to leave Scotland to settle in a little town called Allegheny, located in the state of Pennsylvania. Carnegie soon started to work in a factory as a bobbin boy, earning $1.20 a week until finding a job as a telegraph messenger the year after, where he moved up to a telegraph operator position in 1851. His first and most vital experience in railroads was when he worked the Pennsylvania Railroad company in 1853, as the assistant and telegrapher of Thomas Scott, one of the railroad’s top officials, where he learned about the railroad industry and business and where he was earning $4.00 per week. Three years later, because of his rapid advanced skills, he was promoted to a superintendent. While working, Carnegie also started to make investments, specially in oil. He invested $40,000 in Story Farm on Oil Creek in Pennsylvania , where in one year, the farm yielded more than $1,000,000 in cash dividends.He made wise choices that brought him good results and eventually led him to leave the rail road in 1865, seeking to focus more on his business interests, including the Keystone Bridge Company. He got married to Louise Whitfield in 1887, and in 1897 their daughter Margaret was born.

STEEL- 1885
Carnegie made most of his fortune through the steel industry, managing the most extensive steel and iron operations ever owned by an individual in the United States. Carnegie adapted the Bessemer process for steel making,which is an industrial process for the mass-production of steel from molten pig iron, that allowed him make a cheap efficient mass production of steel. In result, the steel price dropped and was rapidly adopted for railway lines and girders for buildings and bridges. The second innovation Carnegie invented was the vertical integration of all suppliers of raw materials, which is a management control where vertically integrated companies in a supply chain are united through a common owner. In the 1880s, Carnegie Steel was the largest manufacturer of pig iron, steel rails, and coke in the world, having the capacity of producing around 2,000 tons of pig metal in one day. In 1892, Carnegie created the Carnegie Steel Company in Pittsburgh, which revolutionized steel production in the United States. By 1889, Carnegie Steel Corporation was the largest steel company in the world, making Carnegie one of the wealthiest and most powerful men in the world. However,
Some of his employees felt that the success of the company was at the expense of their hard work and they refused to work when the managers tried to lower the wages, which sparked to a violent conflict between the workers and local managers, starting what has been called The Homestead act of 1892.
Carnegie made a huge turn in his life in 1901, when he sold his business to the United States Steel corporation, started by legendary financier J.P.Morgan, for $200 million. Carnegie devoted the rest of his life to large-scale philanthropy, with special emphasis on local libraries, world peace, [citation needed] education and scientific research.
He died on August 11, 1919, in Leonox, Massachusetts of bronchial pneumonia. By this time, Carnegie had $30,000,000 that was given to foundations, charities, and to pensioners and he already had given away $350,695,653 of his wealth to provide more than 2,500 free public libraries throughout the world.He was buried at the Sleepy Hollow Cemetery in North Tarrytown, New York .

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