Andrew Carnegie

​

Introduction

Andrew Carnegie was a famous businessman and philanthropist who became one of the richest men in history. He was born in Scotland but made his fortune in the United States. Carnegie is best known for his work in the steel industry and for giving away most of his wealth to help others. His life story is often seen as a "rags-to-riches" tale, showing how hard work and determination can lead to great success.

​

Early Life

Andrew Carnegie was born on November 25, 1835, in Dunfermline, Scotland. His family was very poor. His father, William Carnegie, was a weaver, making cloth by hand, and his mother, Margaret Carnegie, helped support the family by sewing and mending shoes. The family lived in a small, simple house, and life was often hard.

​

When Andrew was 13 years old, in 1848, his family decided to move to the United States in search of a better life. They traveled by boat to America and settled in Pittsburgh, Pennsylvania. The journey was long and difficult, and the family had little money when they arrived.

​

Starting Work

In Pittsburgh, Andrew Carnegie quickly found work to help support his family. His first job was in a cotton factory, where he worked as a bobbin boy. A bobbin boy's job was to change the spools of thread in the factory machines. It was hard, tiring work, and Andrew only earned $1.20 a week, but he was happy to have a job.

​

Andrew worked hard and learned quickly. He soon found a better job as a messenger boy for a telegraph company. In this job, he delivered messages to businesses around the city. Andrew was curious and eager to learn, so he started to teach himself how to use the telegraph machines. He practiced in his free time and became very good at sending and receiving messages.

​

A Career in the Railroad Industry

Andrew Carnegie's big break came when he got a job as a telegraph operator for the Pennsylvania Railroad Company. He was only 17 years old at the time. This job was an important step in Carnegie’s career because it introduced him to the world of business and industry.

​

Carnegie was a hard worker and quickly gained the trust of his boss, Thomas A. Scott, who was a high-ranking official in the railroad company. Scott became a mentor to Carnegie, teaching him about business and how to invest money wisely. Carnegie learned that he could make money by investing in companies, and he started to buy shares in different businesses.

​

As he gained more experience, Carnegie was promoted to higher positions within the railroad company. He learned a lot about how businesses worked and became very skilled at making investments. By the time he was in his 20s, Carnegie was already earning more money from his investments than from his job.

​

The Steel Industry

In the 1860s, Andrew Carnegie saw an opportunity to enter the steel industry. At that time, steel was becoming more important for building railroads, bridges, and buildings. Carnegie believed that steel would be the key to the future, and he wanted to be part of it.

​

Carnegie used the money he had saved and invested in a steel company. He focused on making steel quickly and cheaply, which allowed him to sell it at lower prices than his competitors. Carnegie's steel company became very successful, and he started to build more steel mills across the country.

​

One of Carnegie's most important business strategies was to control every part of the steel-making process. This is called "vertical integration." Carnegie owned the mines where the iron ore was dug up, the railroads that transported the ore, and the mills where the steel was made. By controlling all these parts of the process, Carnegie could keep costs low and make more profit.

​

Becoming One of the Richest Men in the World

Andrew Carnegie's steel company grew quickly and became the largest and most successful in the United States. His company, Carnegie Steel Company, supplied steel for many important projects, including the construction of skyscrapers, bridges, and railroads.

​

By the 1880s, Carnegie was one of the richest men in the world. He had built an empire from nothing, starting as a poor boy in Scotland and becoming a powerful businessman in America. His success made him a symbol of the "American Dream"—the idea that anyone, no matter how poor, could become rich and successful through hard work.

Philanthropy: Giving Away His Wealth

​

Even though Andrew Carnegie became very rich, he believed that it was important to give back to society. He felt that wealthy people had a responsibility to help others. This belief led him to become a philanthropist, a person who gives away money to help people.

​

Carnegie once said, "The man who dies rich dies disgraced." He believed that it was wrong for a person to die with a lot of money that they did not need. Instead, he thought that the rich should use their wealth to make the world a better place.

​

Carnegie started giving away his money in the 1880s. He donated millions of dollars to build public libraries across the United States and around the world. He believed that libraries were important because they gave people the chance to learn and improve their lives. By the time of his death, Carnegie had funded over 2,500 libraries.

​

In addition to libraries, Carnegie also gave money to build schools, universities, and museums. He established Carnegie Mellon University in Pittsburgh, which is still one of the leading universities in the United States today.

​

Carnegie was also interested in world peace. He believed that wars were wasteful and that countries should work together to solve problems peacefully. To support this idea, he funded the construction of the Peace Palace in The Hague, Netherlands, which is still used today for international peace efforts.

​

The Sale of Carnegie Steel

In 1901, Andrew Carnegie decided to sell his steel company. By this time, Carnegie Steel was the largest and most profitable steel company in the world. Carnegie sold the company to a group of investors led by J.P. Morgan, a powerful banker, for $480 million. This sale made Carnegie one of the richest men in history.

​

After selling his company, Carnegie focused even more on philanthropy. He spent the rest of his life giving away his fortune to causes he believed in, including education, peace, and scientific research.

​

Later Life and Legacy

Andrew Carnegie spent his later years in Scotland, where he had built a large mansion called Skibo Castle. He continued to travel between Scotland and the United States, overseeing his philanthropic projects and writing books and essays on social issues.

Carnegie died on August 11, 1919, at the age of 83. By the time of his death, he had given away more than 90% of his wealth. His legacy lives on through the many institutions he founded and the libraries, schools, and universities he funded.

​

Carnegie's life story is an example of how hard work, determination, and a desire to help others can lead to great success. He is remembered not only as a successful businessman but also as a great philanthropist who used his wealth to make the world a better place.

​

Conclusion

Andrew Carnegie’s journey from a poor boy in Scotland to one of the richest men in the world is a remarkable story of success. But what makes Carnegie truly special is how he chose to use his wealth. Instead of keeping his fortune for himself, Carnegie gave most of it away to help others. His belief in the power of education, knowledge, and peace continues to inspire people around the world. Carnegie's life teaches us that true success is not just about making money, but also about making a positive difference in the world.