Title: Andrew Carnegie - HISTORY
Headings: Andrew Carnegie
Andrew Carnegie
Contents
Andrew Carnegie: Early Life and Career
Andrew Carnegie: Steel Magnate
Andrew Carnegie: Philanthropist
Andrew Carnegie: Family and Final Years
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Andrew Carnegie: Philanthropist
After Carnegie sold his steel company, the diminutive titan, who stood 5’3”, retired from business and devoted himself full-time to philanthropy. In 1889, he had penned an essay, “The Gospel of Wealth,” in which he stated that the rich have “a moral obligation to distribute [their money] in ways that promote the welfare and happiness of the common man.” Carnegie also said, “The man who dies thus rich dies disgraced.” Carnegie eventually gave away some $350 million (the equivalent of billions in today’s dollars), which represented the bulk of his wealth. Among his philanthropic activities, he funded the establishment of more than 2,500 public libraries around the globe, donated more than 7,600 organs to churches worldwide and endowed organizations (many still in existence today) dedicated to research in science, education, world peace and other causes. Among his gifts was the $1.1 million required for the land and construction costs of Carnegie Hall, the legendary New York City concert venue that opened in 1891. The Carnegie Institution for Science, Carnegie Mellon University and the Carnegie Foundation were all founded thanks to his financial gifts. A lover of books, he was the largest individual investor in public libraries in American history.