How much money did andrew carnegie make

Scottish-born Andrew Carnegie was an American industrialist who amassed a fortune in the steel industry then became a major philanthropist. Carnegie worked in a Pittsburgh cotton factory as a boy before rising to the position of division superintendent of the Pennsylvania Railroad in While working for the railroad, he invested in various ventures, including iron and oil companies, and made his first fortune by the time he was in his early 30s. In the early s, he entered the steel business, and over the next two decades became a dominant force in the industry. Andrew Carnegie, whose life became a rags-to-riches story, was born into modest circumstances on November 25,in Dunfermline, Scotland, the second of two sons of Will, a handloom weaver, and Margaret, who did sewing work for local shoemakers. Ambitious and hard-working, he went on to hold a series of jobs, including messenger in a telegraph office and secretary and telegraph operator for the superintendent of the Pittsburgh division of the Pennsylvania Railroad. InCarnegie succeeded his boss as railroad division superintendent. While in this position, he made profitable investments in a variety of businesses, including coal, iron and oil companies and a manufacturer of railroad sleeping cars. After leaving his post with the railroad inCarnegie continued his ascent in the business world. With the U. By the time he was in his early 30s, Carnegie had become a very wealthy man. In the early s, Carnegie co-founded his first steel company, near Pittsburgh.

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Andrew Carnegie came from Scotland to the United States in , and his family settled in Allegheny, Pennsylvania. At age thirteen, Andrew went to work as a bobbin boy in a cotton mill. He then moved rapidly through a succession of jobs with Western Union and the Pennsylvania Railroad. In , he resigned to establish his own business enterprises and eventually organized the Carnegie Steel Company, which launched the steel industry in Pittsburgh. At age sixty-five, he sold the company to J. Many persons of wealth have contributed to charity, but Carnegie was perhaps the first to state publicly that the rich have a moral obligation to give away their fortunes. In , he wrote The Gospel of Wealth, in which he asserted that all personal wealth beyond that required to supply the needs of one’s family should be regarded as a trust fund to be administered for the benefit of the community. His philanthropic interests centered around the goals of education and world peace. One of his lifelong interests was the establishment of free public libraries to make available to everyone a means of self-education. There were only a few public libraries in the world when, in , Carnegie began to promote his idea. Carnegie set about disposing of his fortune through innumerable personal gifts and through the establishment of various trusts. Each of the organizations established by Andrew Carnegie has its own funds and trustees and is independently managed.

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Carnegie Corporation of New York , founded in «to promote the advancement and diffusion of knowledge and understanding,» is the largest and the most broad in scope of the Carnegie philanthropic organizations. Carnegie Council on Ethics and International Affairs , founded in as The Church Peace Union , is an independent, nonpartisan, nonprofit organization dedicated to research and education in the field of ethics and international affairs. The trust maintains the Andrew Carnegie Birthplace Museum. Carnegie Endowment for International Peace , founded in , is a nonprofit organization, conducting programs of research, discussion, education and publication on international affairs and U. The Carnegie Foundation is the owner of the Peace Palace at the Hague, which was founded in with a gift of over one million dollars from Andrew Carnegie. The Carnegie Foundation for the Advancement of Teaching , founded in as the teachers pension fund, is a private operating foundation primarily engaged in education policy studies. Carnegie Hero Fund Commission , established in , for recognition of heroic acts performed in peaceful walks of life in the United States and Canada.

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Andrew Carnegie sold his steel company, Carnegie Steel, to J. Carnegie wasn’t always wealthy — or even American. His parents, Will and Margaret Carnegie, sold their belongings in Scotland to come to America when Andrew was years-old. They settled in a suburb of Pittsburgh, living in just two rooms above a weaving shop. Carnegie’s relatives ran the shop, and Will eventually took over, but the business failed. So Carnegie started working as a bobbin boy in a cotton mill. The following year, Carnegie worked as a messenger for a telegraph company, and he taught himself to use the equipment. He used those skills to land a job with the Pennsylvania Railroad, a job that would help shape his future. It helped him learn about the railroad industry so that he could identify smart investments — even if he did not yet have the wealth to make those investments. When Thomas A. After that, Theodore Woodruff approached Carnegie with the idea of sleeping train cars and offered him a share in the Woodruff Sleeping Car Company. In order to invest, Carnegie had to secure another bank loan.

This was later published as the book The Gospel of Wealth. The conflict between the workers and local managers turned violent after the managers called in guards to break up the union. Asked in Andrew Carnegie How much money did Margaret carnegie inherit? Carnegie thought that education was very important. Rockefeller was the head of the Standard Oil Company and one of the world’s richest men. Needless to say, the southern part of the US didn’t recieve much. Asked in Athletes How much money does Andrew Brown make? Previously Viewed. Asked in Andrew Carnegie How did Andrew carnegie treated workers? By he owned Carnegie Steel Corporation, the largest of its kind in the world. The other smaller companies will take more of the market share. How much money did Andrew Carnegie have? Andrew Carnegie donated millions of dollars to fund public libraries.

Andrew Carnegie: Early Life and Career

We need you to answer this question! The cast of Andrew Carnegie — includes: Andrew Carnegie as. Needless to say, the southern part of the US didn’t recieve. Unanswered Questions. Asked in John D. He did not believe in the redistribution of wealth, nor did he believe in leaving too much to his children. Carnegie also wrote several books and numerous articles. He felt that if you give too much to your children it will make them dependant on this money and unwilling to work for themselves. Andrew Carnegie was born on November 25, Asked in Andrew Carnegie Why is there a statue of Andrew Carnegie on the first floor of the elizabeth public library and why is there a statue of Andrew Carnegie in the entrance hall of the Brooklyn public libaray? We carnehie for accuracy and fairness.

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He gave away most of his money. At his time, he had million, and before his death, gave away million. After his death, the rest didd his money went to charities and libraries. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.

Hottest Questions. Previously Viewed. Unanswered Questions. Asked in History of the United Mney. How much money did Andrew Carnegie have? That was an enormous amount of money for the day. Carnegie thought that education was very important.

Andrew Carnegie how he spent his money. He started the Carnegie Steel Company. When Andrew Carnegie sold his steel plant for million dollars, he kept 30 million dollars to live on. He donated the rest to his foundation. Andrew Carnegie became captain of industry by donating his money to libraries and universities.

He sold steel to the US. Andrew Carnegie invested on steel. Asked in Andrew Carnegie Who did Andrew carnegie murder? Andrew Carnegie murdered no one. Asked in Banking Did Andrew Carnegie spend his money in a positive way? Andrew Carnegie spent money on many things. Some of those things like public libraries and other public works are considered positive. Andrew Carnegie was an industrialist and businessman, who mondy much of the US steel industry in the 19th century.

But he was also a philantropist. He devoted much of his money to public and private projects that improved life for. These included libraries, schools, and universities. The cast of Andrew Carnegie — includes: Andrew Carnegie as.

Asked in Andrew Carnegie How did Andrew carnegie treated workers? His company manufactured steel. Some of his greater accomplishments include Carnegie Hall, Carnegie Institute of Pittsburgh, Carnegie Mellon University, and many many other places such as libraries.

Andrew Carnegie didn’t invent. He started a company — The Carnegie Steel Company. Andrew Carnegie was born on November 25, Andrew Carnegie Mansion was created in Andrew Carnegie Whitfield was born in Andrew Carnegie started and funded the Carnegie Institution. The Carnegie Dd provided funding for scientific research. Andrew Carnegie also started a pension fund for teachers. Trending Questions.

Andrew Carnegie

Andrew Carnegie was born on November 25,in Dunfermline, Scotland. After moving to the United States, he worked a series of railroad jobs. By he owned Carnegie Steel Corporation, the largest of its kind in the world.

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In he sold his business and dedicated his time to expanding his philanthropic work, how much money did andrew carnegie make the establishment of Carnegie-Mellon University in Although he had little formal education, Carnegie grew up in a family that believed in the importance of books and learning. The son of a handloom weaver, Carnegie grew up to become one of the wealthiest businessmen in America. At the age of 13, inCarnegie came to the United States with his family. The next year he found a job as a telegraph messenger. Hoping to advance his career, he moved up to a telegraph operator position in He then took a job at the Pennsylvania Railroad in He worked as the assistant and telegrapher to Thomas Scott, one of the railroad’s top officials. Through this experience, he learned about the railroad industry and about business in general. Three years later, Carnegie was promoted to superintendent. While working for the railroad, Carnegie began making investments. He made many wise choices and found that his investments, especially those in oil, brought in substantial returns. He left the railroad in to focus on his other business interests, including the Keystone Bridge Company. By the next decade, most of Carnegie’s time was dedicated to the steel industry.