Furthermore, how did Carnegie make his money? Andrew Carnegie, with partners from the Railroad Company, launched a bridge building company. Carnegie had some investments in the iron industry before the war. By 1911 Andrew Carnegie had given away about 90% of his fortune. He was also one of the most important philanthropists of his Back in 1908, Andrew Carnegie was the wealthiest man in the world. He spread his wealth to scientific research, education and reading, libraries, colleges, and world peace causes. How did Andrew Carnegie donate his money? Andrew Carnegie, (born November 25, 1835, Dunfermline, Fife, Scotlanddied August 11, 1919, Lenox, Massachusetts, U.S.), Scottish-born American industrialist who led the enormous expansion of the American steel industry in the late 19th century. What did it entail? How did Andrew Carnegie make his money? That's exactly what Andrew Carnegie did. What business strategy did Carnegie use? Carnegie worked with others in establishing a steel rolling mill, and steel production and control of industry became the source of his fortune. vertical integration-meant he bought out business that he used in production process. All told, Andrew Carnegie eventually gave away roughly 90 percent of his personal fortune during his lifetime. Andrew Carnegie, Philanthropist Can you imagine becoming the richest person in the world and then giving your money away? By his death he How Bill Gates, the world's richest man, got his start. Andrew Carnegie was a self-made steel tycoon and one of the wealthiest businessmen of the 19th century. In 1902 he founded the Carnegie Institution to fund scientific research and established a pension fund for teachers with a $10 million donation. His life seemed to be touched by magic. Alicia Adamczyk. Andrew Carnegie became known as the "father of philanthropy" after making his millions in the American steel industry of the 19th century. Standard Oil Company. Careers. He told writer Napoleon Hill what he did to achieve that. Carnegie had made some charitable donations before 1901, but after that time, giving his money away became his new occupation. Andrew decided to invest his money in companies that supplied the railroads. Carnegie is credited with leading the steel industry expansion in How did John D. Rockefeller make his fortune? He later dedicated his life to philanthropic endeavors. 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. Millennial Money How this 38-year-old teacher earning $47,000 a year in Hawaii spends his money. US steel. Andrew Carnegie, who got his start as a telegraph messenger for the Pennsylvania Railroad Co., grew with them. In fact, one of the companies he invested into was a company that built bridges for the railroads. He already had made some charitable donations before his retirement but after that time, giving money became his new occupation. What is industrialist and philanthropist Andrew Carnegie most well known for? He invested in more than 10 companies that sold their products to the railroads.