Andrew Carnegie was born in Dunfermeline, England, in 1835. He is a self-made American steel magnate, philosopher and philanthropist who has attracted widespread attention from the world. There are libraries named after him in every city in the United States.
In 1872, he founded his own steel factory and became the most influential "steel king" and billionaire in the history of modern American companies. In 1985, among the 10 entrepreneurs with the greatest influence on American society in the history of the United States, Carnegie ranked third after "car king" Henry Ford and "oil king" John Rockefeller!
In 1865, the American Civil War came to an end. The Northern industrial bourgeoisie defeated the Southern planters, but President Lincoln was assassinated.
The whole United States is immersed in joy and sorrow. It is rejoicing at the victory of reunifying the United States, and is infinitely sad because of the loss of a respectable president.
However, Carnegie saw another side at this time.
He predicted that after the war, economic recovery would inevitably come, and the demand for steel in economic construction would increase day by day.
So, he resigned from his well-paid job in the railway department without hesitation, merged the two major steel companies he presided over - Metropolitan Steel Company and Cyclops Steel Company, and founded the United Steel Company.
At the same time, Carnegie asked his brother Tom to found the Pittsburgh Locomotive Manufacturing Company and operate the Superior Iron Mine.
The United States defeated Mexico, captured California, and decided to build a railroad there. At the same time, the United States planned to build a transcontinental railroad.
There are few things more profitable than investing in railroads.
The federal government and Congress first approved the Union Pacific Railroad, and then approved three other transcontinental lines using the railroad it built as the central line.
But everything is far from that simple. Various railway construction applications have been submitted one after another, as many as dozens. The era of railway revolution in the American continent is about to come.
"The American continent is now in the railway age and the steel age. It needs to build railways, locomotives and rails. Steel is profitable." Carnegie thought this way.
Soon, Carnegie launched an attack on steel.
In the United Iron Works, a 22.5-meter-high smelting furnace stood. It was the largest smelting furnace in the world at the time. Investors were wary of its construction for fear of losing their money. You can't make a profit at all after entering.
But Carnegie's efforts made these worries unfounded. He hired chemical experts to station at the factory to inspect the quality of the purchased ore, limestone and coke, and systematized the testing of products, parts and raw materials.
At that time, the process from purchasing raw materials to selling products was often chaotic. The profit and loss status was not known until the checkout. There was no scientific business method at all. Carnegie vigorously rectified its business methods and implemented the concept of high efficiency with clear responsibilities at all levels, greatly improving productivity levels.
At the same time, Carnegie bought the "Brothers Steel Manufacturing" patent of British engineer Dodds, and also bought the patent of "Coke Washing and Reduction Method".
His approach was prescient. Otherwise, Carnegie's steel business would have become a victim of the Great Depression.
In 1873, the Great Depression came unexpectedly. Banks collapsed and stock exchanges closed. Payments for railway projects in various places were suddenly interrupted. On-site construction came to an abrupt halt, and iron ore and coal mines closed down one after another. , and the fire in Pittsburgh went out.
Carnegie asserted:
“Only in the years of economic depression can building materials for steel plants be bought cheaply, and wages accordingly cheap. Other steel companies closed down one after another, The eastern entrepreneurs who were challenging steel had already withdrawn their troops. This was a once-in-a-lifetime opportunity that must not be missed."
In the most difficult circumstances, Carnegie went against the grain. It is planned to build a steel manufacturing plant.
Under Carnegie's persuasion, shareholders agreed to issue corporate bonds.
The project progress is slightly behind schedule. On August 6, 1875, Carnegie received his first order for 2,000 rails. The furnace was lit.
In 1890, after Carnegie annexed the Dickson Steel Company, it increased its capital to US$25 million in one fell swoop, and the company name became the Carnegie Steel Company. Soon after, it was renamed US Steel Enterprise Group.
When Carnegie was 33 years old, he wrote the following passage in his diary: "People who are obsessed with money are people of despicable character. If I had been pursuing a career that made money, I would have One day I will surely fall. If I can gain a certain level of wealth in the future, I will use it for social welfare."
In 1900, Carnegie, who was in his sixties, had already become famous. He was so satisfied that he decided to retire with peace of mind and use his huge wealth to do the things he had wanted to do. This year, he announced in the book "The Gospel of Wealth": "I will no longer work hard to earn more wealth." So, he resolutely retired from his booming steel business and sold it for US$500 million. Carnegie Steel Company was sold to financial magnate J.P. Morgan. Then, he began to implement his great plan to dedicate his wealth to society.
In 1901, the first year after Carnegie retired, he first set up a relief and pension fund for steelmaking workers with US$5 million to express his gratitude to the employees who helped him achieve success in his career. grateful. Then, in order to help aspiring young people from poor families, he donated money to build 68 libraries in New York City. This library construction project lasted for 16 years. He donated a total of 12 million US dollars to build 3,500 libraries.
The next year, he donated 25 million US dollars to establish the "Carnegie Institution" in Washington, with U.S. Secretary of State John as president, mainly used to develop science, literature and fine arts. The association built an oceanographic survey ship, the USS Carnegie, and revised the world's nautical charts. In addition, the Wilson Observatory was built atop a California mountain to observe space. For this association, Carnegie repeatedly added funds to this association in the following years, with a cumulative donation of US$73 million.
At the same time, Carnegie founded "Carnegie University" in his second hometown of Pittsburgh. Later, he donated funds to establish various schools and educational institutions in the United States and Britain. Such donations for the construction of educational facilities amounted to US$90 million.
In the following years, Carnegie established several funds. He donated 5 million US dollars to establish the "Those who sacrificed themselves to save others" fund to reward or provide relief to heroes and their families who sacrificed or were injured to save others in emergencies. He donated US$39 million to establish the "University Professors Retirement Fund" to protect educators in their later years. He also established the "President's Retirement Fund" and the "Writers' Fund" to provide funding to U.S. presidents or writers in their later years. In addition, he provided "Carnegie Celebrity Funds" to 11 countries and established the "Carnegie International Peace Foundation" with US$10 million to specifically fund people who contribute to world peace.