Steel Tycoon Andrew Carnegie

Posted on May 20, 2008
Filed Under Famous Entrepreneurs |

Andrew Carnegie (1835-1919) epitomises the image of the self-made man and the American dream. Rumored to have been the second richest man ever to have been alive, he should not be confused with Dale Carnegie, author of “How to win friends and influence people” who was born Carnegey and changed his name later to Carnegie. He was the George Soros of his day, as he made his fortune thanks to very astute investments.

Born in Scotland, he accompanied his parents to America in 1848 when he was 13, where he started working immediately in a cotton mill earning low wages. Later on, he became active as telegraph messenger, a position from where he worked himself up.

From the first moments in his life, Andrew Carnegie had a fondness for books and knowledge. Whenever he could, he would borrow a book from a library or whatever source there was available to feed his insatiable hunger for ever more knowledge.

He made his incredible fortune in the steel industry, yet, although he owned the equivalent of billions in today’s money, he never indulged in acquiring a fondness of money for money’s sake.  In fact, he said that going after money just for the sake of it was the lowest possible form of idolatry man could give in to and he despised those who did.

Andrew Carnegie is one of the world’s greatest philanthropists and he set the standard. Alloting himself but a mere fraction of his own wealth, he retired from active business life when he was around fifty and devoted the rest of his days giving his money away to advance the cause of educating the poor. It is estimated he distributed more than 3.5 billion dollars in today’s value.

Andrew Carnegie was also an author, who wrote, among other works,  ”The Laws of Success”, that later inspired Napoleon Hill to write “Think and Grow Rich”, which today is still in print.  

 

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