USA HISTORY

Detailed explanation-1: -By the time of his death, Andrew Carnegie, despite his best efforts, had not been able to give away his entire fortune. He had distributed $350 million, but had $30 million left, which went into the Corporation’s endowment. Toward the end of his life, Carnegie, a pacifist, had a single goal: achieving world peace.

Detailed explanation-2: -Carnegie himself was the first president of the Corporation, which he endowed in perpetuity with his remaining fortune-$135 million-to be used principally to promote education and international peace.

Detailed explanation-3: -He established the Carnegie Endowment for International Peace and funded the building of the Hague Palace of Peace, which houses the World Court, in the Netherlands. By 1911, Carnegie had given away a huge amount of money–90 percent of his fortune.

Detailed explanation-4: -In 1889, he wrote The Gospel of Wealth, in which he asserted that all personal wealth beyond that required to supply the needs of one’s family should be regarded as a trust fund to be administered for the benefit of the community. His philanthropic interests centered around the goals of education and world peace.

Detailed explanation-5: -Andrew Carnegie made his fortune by investing in the steel industry. In 1892 he started the Carnegie Steel Company, whose sale made him one of the richest men in history. But let’s take a step back. Andrew Carnegie was born in 1835 in Scotland.