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Birth
Born in Dunfermline, Scotland. The son of William Carnegie and Margaret Morrison Carnegie. -
Emigration to USA
Andrew and his family emigrate into the United States because of high rates of unemployment in his father's industry in Scotland. The Carnegies settle in Pittsburgh, Pennsylvania. -
Pennsylvania Railroad Employment
Andrew becomes the assistant to the Superintendent of the PA railroad, Thomas Scott, and begins to learn the ins and outs of the railway industry. He begins to earn $35 a month. -
Father Dies
William Carnegie, Andrew's Father, dies at age 51. -
Andrew Stops a Strike
Andrew overhears workers in the Pennsylvania Railroad are trying to start a Strike. He alerts his boss who has the potential strikers fired. -
Investment
Andrew begins to invest in sleeping cars in the Pennsylvania Railroad with a loan from the bank. After 2 years he begins to earn $5000+ annually from this investment. -
Promotion
Andrew is promoted to the Superintendent of the Pennsylvania Railroad. He now heads a department and is earning $1500 a year. -
Drafted
Andrew is drafted to the Union Army. But he was also offered the option of paying out for someone else to substitute for him in the war. He paid $850 to have someone serve instead of him. -
Retires and Reinvests
Andrew retires from his position in the PA Railroad. Instead he begins Keystone Bridge Company, which builds bridges out of iron instead of wood. This is his beginning to his industrial career. This also begins to transform transport within society as bridges become a more prominent form of transportation in Pittsburgh, PA. -
Visits Bessemer Steel
Andrew visits the Bessemer Steel Plant in England and observes the Bessemer Process of converting iron into steel more efficiently. -
Steel Investment
He begins to invest in Steel industries after witnessing the great success of the Bessemer Steel Plants and Freedom Iron Works in England. -
Opens Edgar Thomson Steel Works
Andrew opens his first major steel mill in Braddock, PA. He names it Edgar Thomson Steel Works after the president of Pennsylvania Railroad. His first order is 2000 steel rails from the PA Railroad Company. It quickly becomes one of the most productive steel mills in the world. -
Buyouts Competitors
Andrew begins to start purchasing competitor steel mills expanding his steel empire and consolidating the steel production process. -
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Philanthropic Library Donations
Andrew Carnegie was known for donating many things back to the people as his moral wealth obligation. He was most famously known for donating libraries, as he donated 2,509 libraries globally. He wanted to provide public access to knowledge and learning. -
Defends Workers Union
Andrew has an essay published in the Forum Magazine which defends the rights for workers to organize into labour unions. This is one of many ways his treatment of worker/ workers rights influenced society. -
Homestead Steel Works
Andrew then opens Homestead Steel Works which helps expedite the steel creation process. He is now supplying steel for buildings, railroads, and more around the nation. He also begins to buy iron ore mines, coal fields, railroads, and steamships to expedite the transportation process as well. -
"The man who dies rich, dies disgraced."
This is a quote from The Gospel of Wealth. Carnegie believed it was the duty of the wealthy to use their fortunes for the public good rather than hoard them or leave them to heirs. -
Carnegie Hall
Carnegie funded construction and support for a world-class concert venue and hub for musical education.It is still one of the most prestigious music venues in the world. -
The Homestead Strike
Workers at the Homestead Steel Works strike over wage cuts. This soon becomes the most violent and controversial worker strikes of all time. Andrew is abroad while this strike occurs, so his business partner Henry Clay Frick calls the Pinkerton detectives to dismantle the strike. It becomes a deadly battle with multiple deaths that attract national attention. This firmly changes Andrews Earlier stance of unions as his entire steel empire becomes firmly anti-union from then on. -
Carnegie Steel Company Formed
Andrew consolidates all of his steel mills to form his now steel empire of Carnegie Steel Company. -
Publishes "The Gospel of Wealth"
Andrew publishes The Gospel of Wealth which says that the wealthy have a moral obligation to give back to their communities and distribute their wealth accordingly. This is seen a lot in Andrews later life as he has multiple philanthropistic creations. -
Political Cartoon
This is an ironic image critiquing Andrew Carnegie. The name "The Macmillion" is even a play on words as the prefix Mac- is a common Scottish last name prefix, while million refers to immense wealth. The image depicts Andrew as a type of Scottish nobility as to emphasize that he isn't a working class person. It challenges his charitable persona with "exposing" his ruthless business practices as many employees felt they were underpaid while he was profiting significantly. -
Carnegie Steel Company Sold
Andrew sells Carnegie Steel Company to JP Morgan for $480 million (now approximately $16 billion). JP Morgan then combined Carnegie Steel with US Steel to create the first billion dollar corporation. At the time of sale Carnegie Steel Company was producing more steel than the entirety of Great Britain. -
Carnegie Institution for Science
Andrew Carnegie donated $10 million to start the funding of the Institution, but ended up donating many times after. Andrew was known for valuing education, and he wanted the Institute to advance scientific research and developments. This Institute is still around today, but now known as Carnegie Science. -
Carnegie Corporation of New York
Andrew wanted to create a general-purpose philanthropic foundation focused on education and democracy. In which it is still supporting Higher Education and K-12 reforms as a major foundation in America. -
Death
Andrew Carnegie dies at age 83 in Lenox, Massachusetts. He was known for his lasting impact on education and his amazing entrepreneurial feats. At the time of his death he had a net worth at the time of $372 million which is about $4.5 billion in today's economy. -
Comparison: Bill Gates
Carnegie revolutionized the steel industry in the 19th century, becoming one of the richest men of his time, then gave away nearly 90% of his fortune to fund libraries, education, and scientific research. Similarly, Gates co-founded Microsoft, dominating the digital age, and later shifted his focus to education and poverty through the Bill Melinda Gates Foundation.While Carnegie built cultural institutions to uplift society, Gates applies data-driven strategies to solve modern global problems. -
Verdict: Captain of Industry
I believe that Andrew Carnegie is a Captain of an Industry (specifically the steel industry). He was known for creating a million dollar business and investing in the economy, most of his money came from investments and entrepreneurial efforts he can almost be seen as an "ideal capitalist". And even though he was sometimes known for poor worker treatment he was a large advocate of the distribution of wealth among the population as he created many things from his philanthropic perspective.