Andrew Carnegie Net Worth
Andrew Carnegie net worth: Andrew Carnegie was a Scottish-American industrialist who led the expansion of the American steel industry in the late 19th century. Andrew Carnegie had an inflation adjusted net worth of $310 billion. That's enough to make him the 4th richest human being of all time. In addition to a lucrative career, Andrew Carnegie was also one of the highest profile philanthropists of his era. Carnegie was born on November 25, 1835 in Dunfermline, Scotland, and emigrated to the United States with his parents in 1848. The family was very poor, and Carnegie's experience has often been described as a true "rags to riches" story. Carnegie started as a telegrapher and by the 1860s had investments in railroads, railroad sleeping cars, bridges and oil derricks. He built further wealth as a bond salesman where he raised money for American enterprise in Europe. 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 the cheap and efficient mass production of steel by adopting and adapting the Bessemer process for steel making. He built Pittsburgh's Carnegie Steel Company, which he sold to J.P. Morgan in 1901 for $480 million. This created the U.S. Steel Corporation. Carnegie devoted the remainder of his life to large-scale philanthropy, with special emphasis on local libraries, world peace, education and scientific research. Carnegie's mother had not wanted him to get married so he waited until after she died in 1886. That year, Carnegie married Louise Whitfield, who was more than 20 years his junior, and the couple had their only child, a daughter, whom they named after Carnegie's mother, Margaret. Carnegie died on August 11, 1919, in Lenox, Massachusetts, of bronchial pneumonia. He had already given away $350,695,653 of his wealth. At his death, his last $30,000,000 was given to foundations, charities, and to pensioners.