Born on November 25, 1835, Andrew Carnegie would spend most of his early childhood in Scotland. However, when he was 13, his family began to fall on hard times and thus decided to move to Pennsylvania to make a living for themselves. Carnegie would start his early career at a cotton mill but would soon become a telegraph messenger boy, and then a telegraph operator by the time he was 18 years old.
However soon, seeing the high demand of steel for railroads, Carnegie began to manage the Keystone Bridge Company where he began to concentrate on steel production. In addition, he would use “inside trading” to invest in key areas of steel production. Eventually, this would evolve into the Carnegie steel company: the start of his giant steel monopoly. Carnegie’s high production of high volumes of steel allowed him to dominate the market. His ventures paid off and soon, America’s steel output would surpass that of Great Britain’s, the biggest increase in 30 years.
Eventually, his wealth would allow him to fund Carnegie hall in 1890, one of the most prestigious music halls today. It was intended as a venue for the Oratorio Society of New York and the New York Symbophony society, on whose boards Carnegie served. Eventually, after a series of acquisition battles, the CIty of New York would buy the site from Robert E. Simon, Jr. where it would then go on to become a National Historic Landmark.
Known today as Carnegie Mellon University, Andrew Carnegie founded the Carnegie Technical Schools in 1900. Carnegie hoped that it would serve as a vocational training school for the working class, many of who worked in Carnegie’s mills. Eventually, Carnegie Technical school would merge with the Mellon Institute of Industrial Research to become Carnegie Mellon University. Mellon Institute was founded in 1913 by Andrew Mellon, a wealthy American banker and businessman who served as the United States Secretary of the Treasury.
Eventually, Andrew Carnegie would sell his business to J. P. Morgan and began to spend the rest of his days, using his wealth for philanthropy. He would go on to fund many buildings with an emphasis on education and research including Carnegie Hall and CMU. Ultimately, Andrew Carnegie will be remembered as a wealthy businessman who expanded the U.S. steel industry to what it is today. But most of all, as a philanthropist who dedicated his wealth to better society.
I learned a lot about the origins of Carnegie Hall and Carnegie Mellon University from this post. I looked into other examples of philanthropy from Andrew Carnegie, and I found the Carnegie Hero Fund Commission. This fund recognizes people who do heroic acts in civilian life. Those who become recognized are given the Carnegie Medal and receive financial benefits. This began in 1904 with a $4 million trust from Carnegie. Although he was not very supportive of his workers (such as during the Homestead Steel Strike), he did engage in many acts of philanthropy with his wealth. All of these charitable actions have lasted and Carnegie Hall, CMU, and the Carnegie Hero Fund Commission are all still around today.
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