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What did Andrew Carnegie do after he sold his company and he became what?
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Who had a monopoly in the steel industry?
Andrew Carnegie and then he sold it to J.P. Morgan
How did Andrew Carnegie make is money?
He sold steel to the US.
Who is Andrew Carnegie?
Andrew Carnegie was one of the wealthiest men during the 1800's, he revolutionized the steel industry during the era of railroad expansion. He was rich. This was because he had lots of business with the industries and he sold steel at very low prices.Emma - The Life of Andrew Carnegie in a little more detail....Andrew Carnegie was the son of a handloom weaverHe was born in Dunfermline, Scotland, on 25th November, 1835.The economic depression of 1848 convinced the Carnegie family to emigrate to the United States where they joined a Scottish colony near Pittsburgh.Andrew began work aged 12 in a local cotton factory but continued his education by attending night school.At 14 Carnegie became a messenger boy in the local Pittsburgh Telegraph Office. His abilities were noticed by Thomas A. Scott, the superintendent of the western division of the Pennsylvania Railroad.After the war Carnegie succeeded Scott as superintendent of the western division of the Pennsylvania Railroad.Carnegie invested in many factories . The most important of these was Keystone Bridge, a company which he owned a one-fifth share.Carnegie decided that steel would now replace iron for the manufacture of heavy goods.Carnegie wrote a series of books including Round the World (1881), An American Four-in-Hand in Britain (1883) and Triumphant Democracy (1886), where he compared the egalitarianism of America with the class-based inequalities of Britain and other European countries.The Carnegie Steel Company was valued at $25 million and was now the largest steel company in the world.The Carnegie Steel Company continued to expand and between 1889 and 1899.Carnegie now had a personal fortune of $225,000,000.Carnegie set built 3,000 public libraries (380 of these in Britain), also included were the Carnegie Institute of Pittsburgh, the Carnegie Institute of Technology and the Carnegie Institution of Washington for research into the natural and physical sciences.By the time Andrew Carnegie died in August, 1919, he had given away $350,000,000. A further $125 million was placed with the Carnegie Corporation to carry on his good works.A Scottish born US steel industrialist turned philanthropist.
What where important business developments in 1865-1914?
This was the time period of the Industrial Revolution, and some big companies were Standard Oil (run by John D. Rockefeller) and the Carnegie Steel Trust (run by Andrew Carnegie), which he later sold to a financer named J.P. Morgan.
How did john d Rockefeller build and expand his oil company to became an oil empire?
He sold oil to the US govt for war time.
Who had a monopoly in the steel industry?
Andrew Carnegie and then he sold it to J.P. Morgan
Which location on the map represents the state that became the center of steel production during the late 1800s?
Pittsburgh, Pennsylvania, became the center of steel production during the late 1800's. Andrew Carnegie founded Carnegie Steel Company which later was sold to US Steel Corporation there in 1870.
When did Andrew carnegie retire?
Andrew Carnegie retired in 1901 when he sold his steel company, Carnegie Steel Corporation, to J.P. Morgan for $480 million, making him one of the wealthiest individuals of his time. He then focused on philanthropy and donated much of his fortune to various causes.
How did horizontal integration help business such as Carnegie company and tycoons like Andrew Carnegie?
Carnegie Controlled Almost the entire steel industry . by the time he sold his business in 1901 , Carnegie's companies produced by far the largest portion of steel.
Is a steel beam with carnegie embossed on it very old?
I think Andrew Carnegie sold out his steel company in 1901 to US Steel so I would guess it would be at least that old.
How did Andrew Carnegie make is money?
He sold steel to the US.
How did Andrew Carnegie become the richest man ever?
He sold steel
What were the most important events of Andrew Carnegie's life?
Andrew Carnegie was born in 1835. He moved with his parents to the US from Scotland in 1948. In 1901, he sold his steel company to J.P. Morgan for 480 million dollars. That was the equivalent of 13.6 billion dollars today.
Who built steel mills near Pittsburgh and then sold it to JP Morgan Steel?
Andrew Carnegie.
Andrew Carnegie-best known for what?
Andrew Carnegie is best known for his work in the steel industry, where he revolutionized steel production through vertical integration. He became one of the richest men in the world and later dedicated much of his wealth to philanthropic endeavors, particularly in the areas of education and libraries.
Did carnegie violate antitrust law?
Yes, Andrew Carnegie's steel empire, Carnegie Steel Company, was found to have violated antitrust laws in the early 1900s. In 1892, the Homestead Strike and subsequent violent clashes with workers led to negative public opinion and accusations of monopolistic practices. Ultimately, Carnegie sold his company to J.P. Morgan's U.S. Steel Corporation to avoid legal action.
Why did the carnegie steel company came to an end in 1901?
J. P. Morgan bought it and changed the name.(;
