USA HISTORY

Detailed explanation-1: -By age 30, Carnegie had amassed business interests in iron works, steamers on the Great Lakes, railroads, and oil wells. He was subsequently involved in steel production, and built the Carnegie Steel Corporation into the largest steel manufacturing company in the world.

Detailed explanation-2: -Carnegie adopted a new process invented by Sir Henry Bessemer that allowed steel to be made from iron more efficiently and quickly. This lowered the cost for steel, expanding the market. While this Bessemer steel didn’t work for bridges or buildings, it worked well for railways.

Detailed explanation-3: -Andrew Carnegie: Steel Magnate In the early 1870s, Carnegie co-founded his first steel company, near Pittsburgh.

Detailed explanation-4: -One of the captains of industry of 19th century America, Andrew Carnegie helped build the formidable American steel industry, a process that turned a poor young man into the richest man in the world. Carnegie was born in Dunfermline, Scotland, in 1835.

Detailed explanation-5: -His steel empire produced the raw materials that built the physical infrastructure of the United States. He was a catalyst in America’s participation in the Industrial Revolution, as he produced the steel to make machinery and transportation possible throughout the nation.