Andrew Carnegie

Who was Andrew Carnegie?

Andrew Carnegie was a Scottish-American industrialist who led the enormous expansion of the American steel industry in the late 19th century. He was also one of the highest profile philanthropists of his era; his 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and stimulated wave after wave of philanthropy.

Carnegie was born in Dunfermline, Scotland, and emigrated to the United States with his very poor parents in 1848. Carnegie started as a telegrapher and by the 1860s had investments in railroads, railroad sleeping cars, bridges and oil derricks. He built further wealth as a bond salesman raising money for American enterprise in Europe. He built Pittsburgh's Carnegie Steel Company, which he sold to J.P. Morgan in 1901 for $480 million, creating the U.S. Steel Corporation. Carnegie devoted the remainder of his life to large-scale philanthropy, with special emphasis on local libraries, world peace, education and scientific research. With the fortune he made from business, he built Carnegie Hall, and founded the Carnegie Corporation of New York, Carnegie Endowment for International Peace, Carnegie Institution for Science, Carnegie Trust for the Universities of Scotland, Carnegie Hero Fund, Carnegie Mellon University and the Carnegie Museums of Pittsburgh, among others. His life has often been referred to as a true "rags to riches" story.

Famous Quotes:

• I would as soon leave my son a curse as the almighty dollar.
• No amount of ability is of the slightest avail without honor.
• This, then, is held to be the duty of the man of wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him; and, after doing so, to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community --the man of wealth thus becoming the mere trustee and agent for his poorer brethren, bringing to their service his superior wisdom, experience and ability to administer, doing for them better than they would or could do for themselves.
• Aim for the highest.
• The man who acquires the ability to take full possession of his own mind may take possession of anything else to which he justly entitled.
• As I grow older, I pay less attention to what people say. I just watch what they do.
• The average person puts only 25% of his energy and ability into his work. The world takes off its hat to those who put in more than 50% of their capacity, and stands on its head for those few and far between souls who devote 100%.
• Immense power is acquired by assuring yourself in your secret reveries that you were born to control affairs.
• Concentrate; put all your eggs in one basket, and watch that basket...
• The way to become rich is to put all your eggs in one basket and then watch that basket.