Andrew Carnegie (1835–1919) was a Scottish-American industrialist and philanthropist who played a significant role in the expansion of the steel industry in the United States during the late 19th century. Born in Scotland, he emigrated to the United States with his family in 1848. Carnegie started his career as a bobbin boy in a cotton factory and later took various jobs in telegraphy and railroads, which helped him develop a strong business acumen.
In the 1870s, Carnegie founded the Carnegie Steel Company, which became one of the largest and most profitable steel companies in the world. His innovative management practices and use of new technologies, such as the Bessemer process, allowed him to produce steel more efficiently and at a lower cost than his competitors. In 1901, he sold his steel company to J.P. Morgan for $480 million, which led to the creation of U.S. Steel, the first billion-dollar corporation.
Aside from his business achievements, Carnegie is well-known for his philanthropic efforts. He believed in the "Gospel of Wealth," the idea that the wealthy have a moral obligation to distribute their fortunes for the greater good of society. Carnegie donated a significant portion of his wealth to causes such as libraries, education, and peace initiatives. He established numerous institutions, including the Carnegie Corporation of New York, Carnegie Mellon University, and thousands of public libraries across the United States and abroad.
Carnegie's legacy is a complex one, as he is remembered both for his contributions to American industry and for his philanthropy, as well as for the labor disputes associated with his steel mills, such as the Homestead Strike of 1892.