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“Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.” - Andrew Carnegie One Of the.

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Presentation on theme: "“Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.” - Andrew Carnegie One Of the."— Presentation transcript:

1 “Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.” - Andrew Carnegie One Of the Richest Men, In his Time. Andrew Carnegie

2 Younger Life:  Carnegie was born in Dufermline, Scotland and migrated to the United States as a child with his parents.  He was 12 years old when he moved to the United States.  His first job in the United States was as a factory worker in a bobbin factory, where he earned $1.20 per week.  In 1850, Carnegie became a telegraph messenger boy in the Pittsburgh Office of the, at $2.50 per week. He was a very hard worker and would memorize all of the locations of Pittsburgh's businesses and the faces of important men. He made many connections this way. He also paid close attention to the telegraph's instruments.  Carnegie's education and passion for reading was given, he appreciated Shakespeare's work. But he wasn’t allowed into private libraries where it wasn’t open to the public.

3 Middle Ages:  Starting in 1853, Thomas A. Scott of the Pennsylvania Railroad Company employed Carnegie as a secretary/telegraph operator at a salary of $4.00 per week. At age eighteen, the youth began a rapid advancement through the company, becoming the superintendent of the Pittsburgh Division. His employment by the Pennsylvania Railroad Company would be vital to his later success.  Carnegie learned much about management and cost control during these years, and from Scott in particular.  A few years later, he received a few shares in T.T. Woodruff's sleeping car company, as a reward for holding shares that Woodruff had given to Scott and Thomson, as a payoff.  Reinvesting his returns in such inside investments in railroad-related industries. Carnegie slowly accumulated capital, the basis for his later success.  Throughout his later career, he made use of his close connection to Thomson and Scott as he established businesses that supplied rails and bridges to the railroad, offering the two men a stake in his enterprises.

4 Carnegie made his fortune in the steel industry, controlling the most extensive integrated iron and steel operations ever owned by an individual in the United States. One of his two great innovations was in the cheap and efficient mass production of steel rails for railroad lines. The second was in his vertical integration of all suppliers of raw materials. In the late 1880s, Carnegie Steel was the largest manufacturer of pig iron, steel rails, and coke in the world, with a capacity to produce approximately 2,000 tons of pig metal per day. In 1888, Carnegie bought the rival Homestead Steel Workers, which included an extensive plant served by tributary coal and iron fields, a 425-mile (685 km) long railway, and a line of lake steamships. Carnegie combined his assets and those of his associates in 1892 with the launching of the Carnegie Steel Company. 1885–1900: Empire of Steel

5  He wrote: "...the man who dies thus rich dies disgraced." He was a powerful supporter of the movement for spelling reform as a means of promoting the spread of the English language.  Among his many philanthropic efforts, the establishment of public libraries throughout the United States, the United Kingdom, and other English-speaking countries was especially prominent. Carnegie libraries, as they were commonly called, were built in many places. The first was opened in 1883 in Dunfermline, where he was born.  He donated 3, 000 libraries in total. Wealth and Retirement

6 Andrew Carnegie Declaration: In his final days, Andrew Carnegie suffered from bronchial pneumonia. Before his death on 11 August 1919, Mr. Carnegie had donated $350,695,654 for various causes. The Andrew Carnegie Dictum' illustrates Carnegie's generous nature:  To spend the first third of one's life getting all the education one can.  To spend the next third making all the money one can.  To spend the last third giving it all away for worthwhile causes Andrew Carnegie was involved in philanthropist causes, but he kept himself away from religious circles. He wanted to be identified by the world as a 'positivist'. He was highly influenced by John Bright, in public life.

7  The dinosaur Diplodocus carnegiei was named for Andrew Carnegie after he sponsored the expedition that discovered its remains in the Morrison Formation of Utah. Carnegie was so proud of "Dippi" that he had casts made of the bones and plaster replicas of the whole skeleton donated to several museums in Europe. The original fossil skeleton is assembled and stands in the Hall of Dinosaurs at the Carnegie Museum of Natural History in Pittsburgh.  After the Spanish American War, Carnegie offered to donate $20 million USD to the Philippines so they could buy their independence.  Carnegie, Pennsylvania, and Carnegie, Oklahoma, were named in his honor.  The Saguaro cactus's scientific name, Carnegiea, is named after him.  The Carnegie Medal for the best children's literature published in the UK was established in his name.  The Carnegie Faculty of Sport and Education, at Leeds Metropolitan University, UK, is named after him.  The concert halls in Dunfermline and New York are named after him.  At the height of his career, Carnegie was the second-richest person in the world, behind only John D. Rockefeller of Standard Oil. Legacy and Honors:

8 Andrew Carnegie's personal papers reside at the Library of Congress Manuscript Division. The Carnegie Collections of the Columbia University Rare Book and Manuscript Library consist of the archives of the following organizations founded by Andrew Carnegie: The Carnegie Corporation of New York (CCNY); The Carnegie Endowment for International Peace (CEIP); the Carnegie Foundation for the Advancement of Teaching (CFAT); The Carnegie Council on Ethics and International Affairs (CCEIA). These collections deal primarily with Carnegie philanthropy and have very little personal material related to Mr. Carnegie. Carnegie Mellon University and the Carnegie University of Pittsburgh jointly administer the Andrew Carnegie Collection of digitized archives on Carnegie's life. Continued

9 Carnegie Vanguard High School Carnegie Museum of Natural History The statue of Andrew Carnegie in his home town of Dufermline Pictures of his Legacy and Honors

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