Andrew Carnegie
1835–1919 — Scotland/USA
Era: Modern
Brilliance: 8/10 | Stewardship: 7/10 | Composite Index: 56
Steel baron who gave away 90% of his fortune. Built 2,509 libraries.
"The man who dies rich dies disgraced."
Biography
Andrew Carnegie rose from Scottish poverty to become America's steel magnate, revolutionizing industrial production through vertical integration and cost innovation. He pioneered the "Gospel of Wealth," arguing that the rich had a moral duty to redistribute their fortunes for public benefit, ultimately donating $350 million to education, libraries, and peace initiatives. His legacy shaped both American capitalism and philanthropic giving.
Key Facts
- Immigrated to Pennsylvania at age 13 with his family, starting as a bobbin boy in a textile factory
- Built Carnegie Steel Company into the world's largest steel producer before selling it to J.P. Morgan for $480 million in 1901
- Funded the construction of 2,509 public libraries across the English-speaking world, more than any other individual
- Established Carnegie Corporation of New York with $125 million, one of the first modern foundations, still operating today
- Authored 'The Gospel of Wealth' (1889), arguing that wealthy individuals should use their fortunes to improve society
Gave away $350M. Built 2,509 libraries. The ultimate exit strategy.
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