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: -He believed in the “Gospel of Wealth, ” which meant that wealthy people were morally obligated to give their money back to others in society. Carnegie had made some charitable donations before 1901, but after that time, giving his money away became his new occupation.

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: -Carnegie believed in giving wealth away during one’s lifetime, and this essay includes one of his most famous quotes, “The man who dies thus rich dies disgraced.” Carnegie’s message continues to resonate with and inspire leaders and philanthropists around the world.