| Carnegie Family |
Andrew Carnegie
(
1835-1919 )
, Pittsburgh, Pennsylvania |
|
| Parents |
: |
William Carnegie and Margaret Morrison |
| Married |
: |
Louise Whitfield (1857-1946) |
| Children |
: |
Margaret (Carnegie) Miller (1897-1990)
|
| Fortune |
: |
|
2,000,000,000 |
F |
$ |
2000 |
|
240,000,000 |
F |
$ |
1975 |
|
350,000,000 |
F |
$ |
1950 |
|
200,000,000 |
F |
$ |
1925 |
|
26,300,000 |
E |
$ |
1919 |
|
200,000,000 |
|
$ |
1918 |
|
220,000,000 |
|
$ |
1901 |
|
175,000,000 |
|
$ |
1900 |
|
1,000,000 |
|
$ |
1875 |
|
|
|
| Activity |
: |
Steel
|
| Main property |
: |
Carnegie Steel -> (1901) US Steel Corp [1st Morgage Bonds] |
|
|
Biographical sketch : When he came to America at age 13, Andrew Carnegie was but one of many Scottish immigrants who lived the American Dream, getting from rags to riches by hard work, thriftiness and a good portion of luck. Yet when he died in 1919, he had passed through the stage of richest man in America and had given away most of his large fortune. Carnegie’s business career started when he became the telegraph operator and later assistant of Thomas Alexander Scott, then district superintendent of the Pennsylvania Railroad at Pittsburgh. Under Scott’s protection the young man rose in the management ranks of America’s best organized railroad and was presented with lucrative investment opportunities, such as Adams Express, Woodruff Sleeping Car and Keystone Telegraph. Like many men in Pennsylvania, Andrew Carnegie also profited from the oil boom, as he put 11'000 $ into the Columbia Oil Company, an investment which eventually yielded one million dollars. In 1865, Andrew Carnegie left the Pennsylvania Railroad and started his way to become a steel tycoon as a leading partner of the Keystone Bridge Company. By that time he already owned shares in the Cyclops Iron Company and his younger brother Thomas Morrison Carnegie was a partner in Kloman-Phipps & Co. By merging these two companies into the Union Iron Mills, the Carnegies were soon in control of the combined entity. In 1870, the Carnegies and their partners expanded their operations by Lucy Furnaces, which were later followed by the Carrie Furnaces. Adopting the Bessemer process for steel making, Andrew Carnegie, with new partners William Coleman and David McCandless, hired Bessemer pioneer Alexander Holley to build the Edgar Thomson Works on the Braddock battlefield. Andrew Carnegie was not the first to use the Bessemer process to make steel in America, but through close cost controls and continuous technical improvements, his steel works became the most competitive in an industry he eventually dominated. Carnegie’s main skill was to recognize and further talented managers. Among the men, Andrew Carnegie handpicked and promoted were Captain Bill Jones, Henry Clay Frick and Charles Michael Schwab. Frick, who had already built his own industrial empire in Connellsville coke properties, became the operative head of Carnegie Steel and Andrew Carnegie started to think of retiring. After writing the “Gospels of Wealth” in 1889, Andrew Carnegie was more and more convinced that wealth had to be redistributed for philanthropic purposes. Thus when John Pierpont Morgan proposed to absorb Carnegie Steel into his United States Steel Corporation, Andrew Carnegie asked for 480'000'000 $, sold out and retired. With his share of $ 220 million in 5% US Steel first mortgage bonds, Andrew Carnegie now had ample means to devote his life to philanthropy, which he did, endowing 2'811 libraries and offering 7'689 pipe organs to churches all around the country. Carnegie philanthropies differed from those of most of his contemporaries, in that he supported common schooling and churches, rather than the prestigious educational institutions. In 1911, Andrew Carnegie established the Carnegie Corporation, with a capital of 125'000'000 $, the first of the great private foundations, and the largest until the Ford Foundation was established in 1947. |
|
Carnegie
Author : Peter Krass
Publisher : John Wiley & Sons Inc, 2002
|
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Carnegie: The Richest Man in the World
Author :
Raymond Lamont-Brown
Publisher : Sutton Publishing NY, 2005 |
|
 |
The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Author :
Charles R. Morris
Publisher : Times Books, 2005 |
|
 |
Andrew Carnegie (Hardcover, 896pp)
Author :
David Nasaw
Publisher : Penguin Group (USA), 2006 |
|
 |
Meet You in Hell : Andrew Carnegie, Henry Clay Frick, and the Bitter Partnership That Transformed America
Author :
Les Standiford
Publisher : Crown Publishing Group, 2005 |
|
Andrew Carnegie (paperback textbook 2nd ed)
Author : Joseph Frazier Wall
Publisher : University of Pittsburgh Press, 1989
|
The Inside History of the Carnegie Steel Company - a Romance of Millions
Author : James Howard Bridge
Publisher : University of Pittsburgh Press, 1991
Search at BN :
Out of Print, Used & Rare
|
The Vital Few - The Entrepreneur and American Economic Progress
Author : Jonathan Hughes
Publisher : Oxford University Press, 1986
Search at BN :
Out of Print, Used & Rare
|
Biographical Dictionary of American Business Leaders (4 volumes)
Author : John N. Ingham
Publisher : Greenwood Press, 1983
Search at BN :
Out of Print, Used & Rare
|
Encyclopedia of American Business History and Biography : Iron and Steel in the Nineteenth Century
Author : Paul F. Paskoff
Publisher : Bruccoli Clark Layman Inc, 1989
Search at BN :
Out of Print, Used & Rare
|
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