Early Life

Born into a working class family on November 25, 1835 in Dunfermline Scotland. Thirteen hear old Andrew, his siblings, and his parents, Will and Margaret Carnegie, left Scotland when the charist movement failed in 1848.

"I began to learn what poverty meant. It was burnt into my heart then that my father had to beg for work. And then and there came the resolve that I would cure that when I got to be a man."- Andrew Carnagie

Andrew received little formal education bit grew up in a family that highly valued books and leaning. Andrew worked as a telegraph messenger and a railroad official before owning Carnagie steel company. While working as a railroad official he learned about the railroad industry and business and started making investments. In 1865 Carnagie founded the Keystone Bridge company which uses iron instead of wood to build more durable bridges.

Steel Tycoon

In the 1880's H.C. Frisk partnered with Carnagie and became the chairman of the Carnegie Company.

In 1892 Andrew founded the Carnegie Steel Company by using the various skills that he had accumulated over the years. This company became the biggest manufacturer of pig iron and steel rails in the world. Carnagie revolutionized the steel industry. He built plants all over the country and used more modern technology that made the manufacturing of steel easier and faster. His start to finish strategy placed his company far ahead of its competitors and earned Carnagie a large fortune.

Carnagie controlled the industry using vertical integration which controlled every aspect of the industry from the mining of the iron to the production of steel. Carnegie maintained his superiority in the market by offering competitive prices, fighting competition and never floated shares rather reinvested earnings and borrowed from banks. In 1878 his company was valued at $1.25 million.

In 1901 JP Morgan aquired Carnagie's steel company and Canagie retired to scottland and invested his time and money in philanthropy.

Philanthropic works

A strong believer in the gospel of wealth, Carnagie dedicated much of his life to good works and giving back to society. In 1902 he founded the Carnegie Institution to fund scientific research and established a pension fund for teachers with a $10 million donation. In 1881 he build a public library in his hometown of Dunfermline Scotland and by the time he died in 1919 he had paid for 2,811 free public libraries in the United the five of which were in the New York City public library system.

Works Cited

"Andrew Carnegie's Story." Andrew Carnegie's Story. N.p., n.d. Web. 20 Feb. 2016.

Bio.com. A&E Networks Television, n.d. Web. 20 Feb. 2016.

"Carnegie Chronology." Carnegie Chronology. N.p., n.d. Web. 20 Feb. 2016.