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Andrew Carnegie - Coggle Diagram

- - - - In 1849, (age 13) Carnegie became a telegraph messenger boy in the Pittsburgh Office of the Ohio Telegraph Company, at $2.50 per week (£68 per week by 2021 inflation)
    - - Carnegie's first job (age 12 / 1848) was as a bobbin boy, changing spools of thread in a cotton mill 12 hours a day, 6 days a week in a Pittsburgh cotton factory. His starting wage was $1.20 per week (£32 per week by 2021 inflation).
    - - In 1853, (age 18) Carnegie was employed by the Pennsylvania Railroad Company as a secretary/telegraph operator at a salary of $4.00 per week (£110 per week by 2021 inflation).
      - Carnegie accepted the job with the railroad as he saw more prospects for career growth and experience there than with the telegraph company.
      - At age 24 / 1859, Carnegie became superintendent of the Western Division of the Pennsylvania Railroad.
      - The railroads were the first big businesses in America, and the Pennsylvania was one of the largest of them all. Carnegie learned much about management and cost control during these year
    - - At age 26 / 1861, Carnegie was appointed Superintendent of the Military Railways and the Union Government's telegraph lines in the East. Under his organization, the telegraph service rendered efficient service to the Union cause and significantly assisted in the eventual victory. The defeat of the Confederacy required vast supplies of munitions, as well as railroads (and telegraph lines) to deliver the goods. The war demonstrated how integral the industries were to American success.
    - - founded in 1865 by Andrew Carnegie, was an American bridge building company.
      - Carnegie worked with others in establishing a steel rolling mill, and steel production and control of industry became the source of his fortune.
      - He remained connected to the Pennsylvania Railroad Company management and used his connections to acquire contracts for his Keystone Bridge Company and the rails produced by his ironworks. Pennsylvania was his best customer.
    - - 1875–1900:
        Steel empire
        
        Carnegie made his fortune in the steel industry, controlling the most extensive integrated iron and steel operations ever owned by an individual in the United States.
        
        In the late 1880s, Carnegie Steel was the largest manufacturer of iron, steel rails, and coke in the world, with a capacity to produce approximately 2,000 tons of iron per day.
        
        By 1889, the U.S. output of steel exceeded that of the UK, and Carnegie owned a large part of it.
        
        Carnegie's success was also due to his convenient relationship with the railroad industries, which not only relied on steel for track, but were also making money from steel transport.
      - 1901:
        U.S. Steel
        
        In 1901, Carnegie was 65 years of age and considering retirement.
        
        Carnegie sold his steel empire for $225.64 million (in 2021, $7.35 billion) in one of the largest business transactions of the early 20th century. The sale made Carnegie one of the richest men in history.
    - - Carnegie spent his last years as a philanthropist.
      - By the time of his death in 1919 he had donated most of his wealth to charities and other philanthropic endeavors and had only US$30 million left to his personal fortune.
      - Carnegie devoted the rest of his life to providing capital for purposes of public interest and social and educational advancement.
      - Among his many philanthropic efforts, the establishment of public libraries throughout the United States, Britain, Canada and other English-speaking countries was especially prominent.
      - Carnegie funded some 3,000 libraries, located in 47 US states, and also in Canada, Britain, Ireland, Australia, New Zealand, South Africa, the West Indies, and Fiji. He also donated £50,000 to help set up the University of Birmingham in 1899.
      - In 1901, he gave $10 million to establish the Carnegie Trust for the Universities of Scotland. At the time, total government assistance to all four Scottish universities was about £50,000 a year. The aim of the Trust was to improve and extend the opportunities for scientific research in the Scottish universities and to enable the deserving and qualified youth of Scotland to attend a university. He was subsequently elected Lord Rector of University of St. Andrews in December 1901. He also donated large sums of money to Dunfermline, the place of his birth.
  - - - To spend the first third of one's life getting all the education one can.
      - To spend the next third making all the money one can.
      - To spend the last third giving it all away for worthwhile causes.