Andrew Carnegie

Lore & Background

Andrew Carnegie was born in Dunfermline, Scotland, in a weaver's cottage. His family immigrated to Allegheny, Pennsylvania, in 1848 when he was 12, after his father's weaving business faltered. Carnegie's first job was as a bobbin boy in a cotton mill, working 12 hours a day for $1.20 per week. He later worked as a telegrapher and, by the 1860s, had investments in railroads, sleeping cars, bridges, and oil derricks. He built Pittsburgh's Carnegie Steel Company, which he sold to J. P. Morgan in 1901 for $303,450,000, forming the basis of U.S. Steel. After the sale, he surpassed John D. Rockefeller as the richest American of the time.

Reader's Guide

Carnegie's significance lies in his dual role as a titan of industry and a pioneer of modern philanthropy. His steel company helped drive American industrial growth, and his sale to J. P. Morgan created the U.S. Steel Corporation, a cornerstone of the nation's economy. However, his legacy is most defined by his philanthropic efforts: during the last 18 years of his life, he gave away about $350 million (equivalent to $6.9 billion in 2025), nearly 90 percent of his fortune. His 1889 article 'The Gospel of Wealth' argued that the rich should use their wealth to benefit society and supported progressive taxation and an estate tax, inspiring a wave of charitable giving. He funded numerous institutions, including Carnegie Hall, the Peace Palace, the Carnegie Corporation of New York, the Carnegie Endowment for International Peace, the Carnegie Institution for Science, Carnegie Mellon University, and the Carnegie Museums of Pittsburgh, with a focus on libraries, world peace, education, and scientific research.

Did You Know?

• Carnegie started work as a bobbin boy in a cotton mill at age 12, earning $1.20 per week.
• He sold Carnegie Steel to J. P. Morgan in 1901 for $303,450,000, which formed the basis of U.S. Steel.
• During the last 18 years of his life, he gave away about $350 million, almost 90 percent of his fortune.
• His 1889 article 'The Gospel of Wealth' called on the rich to improve society and supported progressive taxation.

Notable Quotes (Wikiquote)

"Andrew Carnegie (25 November 1835 – 11 August 1919) was a Scottish-American businessman, a major philanthropist, and the founder of the Carnegie Steel Company, which later became U.S. Steel." — Andrew Carnegie "To be popular is easy; to be right when right is unpopular, is noble... I repudiate with scorn the immoral doctrine, 'Our country, right or wrong'." — Andrew Carnegie "Quoted in: "An Imperial Moment" (December 5, 2002), by Jonathan Schell and John Maxwell Hamilton at The Nation." — Andrew Carnegie "Three generations from shirtsleeves to shirtsleeves." — Andrew Carnegie