Andrew Carnegie

Date of Birth: November 25, 1835

Zodiac Sign: Sagittarius

Date of Death: August 11, 1919

Biography

Andrew Carnegie was a Scottish-American industrialist and philanthropist who played a pivotal role in the expansion of the American steel industry in the late 19th century. Born into a poor family, Carnegie emigrated to the United States in 1848, where he started working as a bobbin boy in a cotton factory. His rise from rags to riches became a quintessential example of the American Dream. Carnegie’s business acumen led him to invest in railroads, bridges, and eventually the steel industry, where he founded the Carnegie Steel Company. This company was later sold to J.P. Morgan for $480 million in 1901, making it the largest business transaction of the time. After retiring from business, Carnegie dedicated his life to philanthropy, giving away approximately $350 million (close to $70 billion today) to various causes, including the establishment of libraries, educational institutions, and foundations. His belief in the “Gospel of Wealth” advocated that the rich had a moral obligation to distribute their wealth in ways that promoted the welfare and happiness of the common man.

5 Interesting Facts about Andrew Carnegie

1. Andrew Carnegie built over 2,500 libraries worldwide, known as Carnegie libraries.

2. Carnegie was one of the richest men in history with a fortune equivalent to billions in today’s dollars.

3. He funded the establishment of Carnegie Mellon University in Pittsburgh, Pennsylvania.

4. Carnegie Hall in New York City, one of the most famous concert venues, was funded by him.

5. He wrote several books and articles, including the famous “The Gospel of Wealth,” where he outlined his philosophy on wealth and philanthropy.

5 Most Interesting Quotes from Andrew Carnegie

1. “The man who dies rich, dies disgraced.”

2. “You cannot push anyone up a ladder unless he is willing to climb a little.”

3. “The first man gets the oyster, the second man gets the shell.”

4. “No man will make a great leader who wants to do it all himself or get all the credit for doing it.”

5. “As I grow older, I pay less attention to what men say. I just watch what they do.”

Highest Net Worth Achieved

At the peak of his wealth, Andrew Carnegie’s net worth was estimated to be about $475 million in 1901, which would be equivalent to approximately $309 billion today, adjusting for inflation.

Children

Andrew Carnegie had one child, a daughter named Margaret Carnegie Miller, born in 1897. She managed various philanthropic activities and contributed to maintaining Carnegie’s legacy.