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: -However, he decided to invest more time in the steel industry in 1875 and built his own steel plant in Braddock, Pennsylvania. Known as the Edgar Thomson Works, Carnegie’s steel mill adopted the Bessemer steel-making process and any other technological innovations that helped factory operations run more efficiently.

Detailed explanation-3: -Andrew Carnegie: Steel Magnate In 1892, his primary holdings were consolidated to form Carnegie Steel Company.

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: -Early in 1901, J. P. Morgan, the country’s most powerful banker, merged Andrew Carnegie’s Carnegie Steel Corporation with nine other steel companies to form the world’s largest corporation. The United States Steel Corporation, usually known as U.S. Steel or simply Big Steel, was capitalized at $1.4 billion.