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Apr 13, 2022 · By 1901, Carnegie sold his steel company to J.P. Morgan for $480 million, or roughly $13.3 billion in today's money (via Dollar Times ). From there, all that remained for Carnegie was to live a life of luxury, alongside his wife Louise Whitfield Carnegie and Carnegie's only child, named Margaret.
- What Was Andrew Carnegie's Net Worth?
- Early Life
- Professional Pursuits
- Steel
- Sale to J.P Morgan
- Philanthropic and Scholarly Pursuits
- Personal Life
- Legacy
Andrew Carnegie was a Scottish-American industrialist who led the expansion of the American steel industry in the late 19th century. During his lifetime, Andrew Carnegie had a peak, inflation-adjusted, net worth of $310 billion. That's enough to make him the 4th richest human being of all time. Andrew Carnegie is one of the most generous philanthro...
Carnegie was born on November 25th, 1835, in Dunfermline, Scotland, to parents Margaret and William Carnegie. His upbringing was extremely modest. The family lived in a two-room cottage. The entire first floor of the cottage was his father, William Carnegie's workroom for weaving fine cloths. The family lived entirely in a single room upper floor. ...
For the first few years of the Civil War, Carnegie received a deferment from the draft because his work for the Pennsylvania Railroad was considered essential to the war effort. Pennsylvania's production of munitions, building materials, and coal was a lifeline for the Northern army, and the state's railroads were crucial supply arteries up and dow...
Carnegie's interest in the railroad industry soon shifted to ironworks and steel, the industry in which he would ultimately make his fortune. Carnegie's impact on the steel industry was lasting and helped accelerate the growth of U.S. steel to exceed that of the U.K. Two main factors were instrumental in this growth – Carnegie's decision to adopt t...
As Carnegie neared retirement in the early 1900s, a Carnegie Steel executive named Charles M. Schwab began secretly negotiating to sell the company to financier John Pierpont Morgan, better known by the name J.P. Morgan. Schwab is not related to today's Charles Schwabfinancier, but the bank J.P. Morgan is indeed directly related to this same financ...
Throughout Carnegie's career in business, he also was devoted to writing and started getting involved with philanthropy. He donated money towards the establishment of the Dunfermline Carnegie Library back in his hometown in Scotland and helped establish what is now the Carnegie Laboratory at NYU. He also was a regular contributor to several magazin...
At the age of 51, Carnegie married Louise Whitfield, who was 30 at the time. The couple married in New York City and had their only child, a daughter named Margaret, together ten years later. Carnegie died in 1919 in Massachusetts of bronchial pneumonia.
Carnegie lives on in the many foundations, organizations, universities, and charities that he either founded or made significant donations to. At the time of his death, he had already given away over $350 million dollars, and his remaining estate was donated when he died. Among many, some of Carnegie's most notable legacies include Carnegie Mellon ...
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His largest gifts were $125,000,000 to the Carnegie Corporation of New York (this same body also became his residuary legatee), $60,000,000 to public library buildings, $20,000,000 to colleges (usually the smaller ones), $6,000,000 to church organs, $29,000,000 to the Carnegie Foundation for the Advancement of Teaching, $22,000,000 to the ...
Nov 9, 2009 · In 1901, banker John Pierpont Morgan (1837-1913) purchased Carnegie Steel for some $480 million, making Andrew Carnegie one of the world’s richest men.
Aug 14, 2018 · According to the Carnegie Corporation, Carnegie's personal peak wealth was about $380 million, or around $309 billion by today's standard. For context, Money ran a piece in January about...
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- Associate Editor, Contributed Content
May 9, 2024 · Andrew Carnegie. © Photos.com/Thinkstock. In 1900 the profits of Carnegie Steel (which became a corporation) were $40,000,000, of which Carnegie’s share was $25,000,000. Carnegie sold his company to J.P. Morgan ’s newly formed United States Steel Corporation for $480,000,000 in 1901.
Jul 6, 2023 · Andrew Carnegie's net worth at the time of his death in 1919 was estimated to be around $372 million. He had amassed his wealth through his investments in steel and other industries, and he became one of the richest people of his time. Who was Andrew Carnegie?
