WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ANDREW CARNEGIE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Make Andrew Carnegie one of the richest man in the world
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He become Philanthropist
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Either A or B
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None of the above
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Detailed explanation-1: -After retiring in 1901 at the age of 66 as the world’s richest man, Andrew Carnegie wanted to become a philanthropist, a person who gives money to good causes. He believed in the “Gospel of Wealth, ” which meant that wealthy people were morally obligated to give their money back to others in society.
Detailed explanation-2: -In 1901, he sold the Carnegie Steel Company to banker John Pierpont Morgan for $480 million. Carnegie then devoted himself to philanthropy, eventually giving away more than $350 million.
Detailed explanation-3: -Because of his position, Carnegie had knowledge of the war machine during the Civil War and saw there was a large need for iron products. After the war he used this new knowledge to switch his business interests from railroads and telegraphs to the ironworks industry, eventually founding the Keystone Bridge Works.
Detailed explanation-4: -In addition to funding libraries, he paid for thousands of church organs in the United States and around the world. Carnegie’s wealth helped to establish numerous colleges, schools, nonprofit organizations and associations in his adopted country and many others.