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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Andrew Carnegie’s Remarkable Life

Andrew Carnegie
Andrew Carnegie - Image from entrepeneur.com Andrew Carnegie - Image from entrepeneur.com
Andrew Carnegie
Andrew Carnegie - Image from entrepeneur.com Andrew Carnegie - Image from entrepeneur.com

On November 25, 1835, Andrew Carnegie was born in Dunfermline, Scotland. He was the son of a weaver and came from a family of modest means. At age 13, he started working in a cotton mill, and at age 17, he moved to the United States to work in a railroad locomotive factory.

In 1856, Carnegie started his own business, producing and selling steel rails for railroads. He soon became one of the leading manufacturers of steel in the country. By 1900, Carnegie Steel Corporation was the largest producer of steel in the world.

Carnegie was a great philanthropist and donated millions of dollars to various causes, including education and public libraries. He also established the Carnegie Foundation to support scientific research.

Andrew Carnegie’s Education and Early Life

Carnegie left school at age 13 and went to work as a weaver. Although the weavers were quite skilled at their trade, they were paid very little and worked long hours. The family’s main source of income was Andrew’s father, who earned only enough money to provide necessities such as food and clothing for his family.

When he was 17 years old, Carnegie began working in a cotton mill that employed 300 people. He made $1.20 per week plus room and board (day laborers earned around 50 cents a day). After six months of this grueling schedule, Carnegie decided to leave Dunfermline for America with hopes of earning more money so that he could help support his parents and younger ones. Later, in his autobiography, Carnegie wrote:

“I determined to come to this new country which promised so much and where my brother had already gone. America was the place I wanted to go to, the land of promise.”

In 1848, at the age of 13, he started working as a bobbin boy in a cotton mill. A year later, he was apprenticed to a telegraph operator and learned about Morse code. In 1853 he became a messenger for the Pennsylvania Railroad Company in Pittsburgh. He had saved enough money to start his own business manufacturing steel rails for railroads five years later.

He prospered as a manufacturer during the Civil War by supplying rails for Union army locomotives and cars. He was one of the richest men in America by 1892 when he sold his steel company to J.P. Morgan for $492 million.

Andrew’s Early Career

His first job was to deliver messages for the telegraph company. He also worked as a telegraph operator until he got fired for taking too much time off. Then he started to work in a factory called “The Pennsylvania Railroad Company,” where they made locomotives and railroads.

After six years of working there, his business became successful enough to quit his job at the railroad company and start-up his business producing steel rails for the railway companies. Within just one year, Carnegie’s new company was profitable enough to allow him to pay off all of the remaining debts owed by his family members back in Europe.

Carnegie retired from active business in 1901 at age 65 but continued to take an interest in various philanthropies. He died in Lenox, Massachusetts, on August 11, 1919, at age 83.

Through his luck and hard work, Carnegie was a very influential man who won the American dream of wealth and freedom for himself and those he employed. Carnegie constantly pushed his workers to be as efficient as possible, changing out machines as they broke down or making better advancements. The system worked pretty well until Carnegie started buying up all of the companies around him to make one giant company called “U.S. Steel,” worth more than $1 billion by 1901. This is comparable today with a company that had a value of over $130 billion dollars.

Andrew Carnegie’s Controversies

Even Andrew Carnegie had his share of controversies. He was known to be a ruthless businessman and would do whatever it took to get ahead. However, he also had a very strict work ethic, expecting his employees to work as hard as possible. If anyone didn’t meet his high standards, they were fired immediately.

He was also known to be a very generous philanthropist. Moreover, he donated millions of dollars to various causes, including education and public libraries. He also established the Carnegie Foundation to support scientific research.

In the end, Andrew Carnegie was a great American success story. He came from humble beginnings and became one of the richest men in America through hard work and determination. He is an example of what is possible in America and can be accomplished with the right attitude.

Carnegie’s Political Involvements

Andrew Carnegie was a strong supporter of the Republican party and President William McKinley. However, he opposed the United States entering World War I and supported President Woodrow Wilson’s decision to go to war, especially after Germany sunk the Lusitania.

Carnegie was also very active in international affairs. In 1910, he sold his steel company to JP Morgan for $500 million dollars. With this money, he began the construction of prestigious libraries around America, which are still being used today. In addition, Andrew Carnegie gave over $350 million dollars for various philanthropic causes, including education, scientific research, public libraries, world peace, and birthdays of famous Americans. He also established The Carnegie Foundation, which currently supports childhood literacy programs through its foundation operated by Dolly Part on.

In 1914, Carnegie wrote an article called “The Gospel of Wealth,” where he explains his philosophy on giving. He felt that the wealthy had a moral obligation to give back to society and that it was their duty to help those less fortunate than themselves. However, he also felt that this should be done in a way that didn’t inhibit the growth or creativity of the individual.

Andrew Carnegie was a man of many talents and accomplishments. He was a successful businessman, philanthropist, and even writer. He is a great example of what is possible in America with hard work and determination. Thanks for reading!

Andrew Carnegie Quotes

“I shall think on him who says “It cannot be done,” until I dies, and then I shall think of it some more.”

“Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.”

“The man who dies thus rich dies disgraced.” – on how he wanted to live his life.

“Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness.” – said Andrew himself when advising on how women should act/what they should do. Some consider this quote sexist because it was very uncommon for a woman to be successful back in that period.

Read more on: THE STORY OF THE AMERICAN INDUSTRIALIST – HENRY FORD


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