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Andrew Carnegie |
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The Scottish industrialist Andrew Carnegie was born on 25th of November, 1835. Apart from being a reputed industrialist and businessman he is known as a noted philanthropist as well. U.S. Steel, previously referred to as Pittsburgh’s Carnegie Steel Company, was founded by Andrew Carnegie. As a young boy he was ambitious as well as hard working, the qualities which made this poor boy a famous personality. With time and age he emerged as one of the most powerful industrialist of United States. By 1860s he had already started investing in bridges, rails, roadways, oil derricks, and soon earned loads of money along with a popular status.
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Steel was the sphere where he obtained all his wealth. Soon in 1870s the Carnegie Steel Company was founded by him. This was the decade when he earned the cognomen ‘Captains of Industry’.
During the 1890s this company of Andrew Carnegie was the largest and most profitable industry of the entire world. In 1901 Andrew Carnegie sold the Carnegie Steel Company to US Steel, which was owned by J.P. Morgan. He attained a lot of popularity and fortune within a short span of time, primarily with his self-improvising and hard working skills. However, in his later stages of life he gave way a major share of his property to charity institution, schools, universities, libraries and so forth and lived a life of a philanthropist. This self made man had hands on experience in loads of fields, which helped him to learn a lot about the industries and corporate world and proper investment of money. Entrepreneurship skills were there rooted in his blood and no one had the ability to stop his growth.
Andrew Carnegie’s primary jump into the industrial sector saw its dawn in the year 1885. Steel industry brought in fortune for him and by the late 1880s he became the largest manufacture of coke, steel rails and pig iron. His factory produced almost 2,000 tons of pig iron every day. The rival factory Homestead Steel Works was bought by Andrew Carnegie in the year 1888 and this was another milestone in his successful career. Along with his associates Andrew Carnegie launched the famous Carnegie Steel Company in the year 1892. With the emergence of this company the steel production of the entire country saw a tremendous increase.
Even the companies like J. Edgar Thompson Steel Works, the Union Iron Mills, the Keystone Bridge, the Frick Coke Company, Pittsburgh Bessemer Steel works, the Union Mill, the Scotia ore mines, the Hartman Steel Works, the Lucy Furnaces were under his possession. One of the most significant projects handled by Andrew Carnegie was the Eads Bridge project, for which the Keystone Bridge Works Company supplied the steel. This marked an immense revolution in the steel industry and brought about the emergence of many other steel factories. When Andrew Carnegie was 66 years i.e. in 1901, his Carnegie Steel Company was sold to the United States Steel Corporation, which was owned by John Pierpont Morgan. He led his last stage of life as a philanthropist. Andrew Carnegie died at the age of 83 in the year 1919.
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