Andrew Carnegie Richest man in the world 1835 to 1919
Who Is Andrew Carnegie?
“If you want to be happy, set a goal that commands your thoughts, liberates your energy, and inspire your hopes” – Andrew Carnegie Andrew Carnegie is a true example of rags to riches story that inspires everybody. He was born to a poor hand-loom weaver, who with sheer hard work and business acumen went on to become the richest person in the world. He is one of the person who have been credited as the “builders” of America.
Biography Of Andrew Carnegie
Born on November 25, 1835 in Scotland. His family migrated to the Allegheny, Pennsylvania, US in 1848 where he took a job as a worker in a cotton mill changing spools of thread. His next job was as a telegraph messenger boy. From the early age he was very interested in reading books. His uncle introduced him to the writings of Robert Burns and William Wallace which deeply influenced him. Later when Colonel James Anderson opened his own personal library of 400 volumes to working boys each Saturday night, his passion for reading and education got a big boost. He was so impressed with the impact of books and education that when he got wealthy and started philanthropic activities, donating to libraries became his main focus. In 1853 he started working as telegraph operator in Pennsylvania Railroad Company. By 1859 with his hard work he rose to the position of superintendent. This was the job that gave him his first lessons of management and cost control, which later turned out to be very vital for his success. He started investing in the companies known through his inside contacts and slowly accumulated capital, the basis of his later success.
Success Story
During the time of civil war (1860-1865) there was a huge demand for iron products, Carnegie worked to establish a steel rolling mill. After this the steel production became the source of his fortune. He named his company Keystone Bridge Company and made handsome profits by getting contracts through his old acquaintances in the railroads. He made some great innovations in the steel industry by adapting Bessemer process for steel making. In 1880’s he bought some of his competitors and later merged with his own company and formed Carnegie Steel Company. In 1901 he retired after selling Carnegie Steel Company to JP Morgan for $480 million. This amount was equivalent to $13.8 billion in 2016.
Personal Life
Carnegie was so close to his mother and wanted to look after her failing health that he did not even married during her life. He married Louise Whitfield at the age of 51 and went on to have a daughter with her. He was very passionate about education and turned a philanthropist after selling his business. He donated 90% of his wealth for various charitable purposes. His main thrust of philanthropic activities was his focus on establishment of public libraries throughout US, Britain and Canada. He is said to have funded some 3000 libraries. He also donated to help set up University of Birmingham in 1899. In 1900, he gave $2 million to start Carnegie Institute of Technology. He also funded Carnegie Institution at Washington D.C., Carnegie Trust for the Universities of Scotland and Carnegie United Kingdom Trust. Carnegie died on August 11, 1919 in Massachusetts due to pneumonia. Before his death he had donated $350,695,653 (approximately $76.9 billion in 2015).
Philosophy
His rich philosophy to the life was: -To spend the first third of one’s life in getting all the education one can. -To spend next third life making all the money one can. -To spend the last third in donating it all away for worthy causes.
Quotes From Andrew Carnegie:-
1)."The way to become rich is to put all your eggs in one basket and then watch that basket. "
2).“Immense power is acquired by assuring yourself in your secret reveries that you were born to control affairs. ”
3). “Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community. ”
4). "Do your duty and a little more and the future will take care of itself. ”
5). “There is little success where there is little laughter. ”
6). “You cannot push any one up a ladder unless he be willing to climb a little himself. ”
7). “People who are unable to motivate themselves must be content with mediocrity, no matter how impressive their other talents. ”
8). “No man will make a great leader who wants to do it all himself, or to get all the credit for doing it. ”
9). “As I grow older, I pay less attention to what men say. I just watch what they do. ”
10). “And the law of competition may be sometimes hard for the individual but it’s best for the race because it ensures the survival of the fittest in every department. ”
11). “Every act you have ever performed since the day you were born was because you wanted something. Aim for the highest and when it’s a question of God’s almighty spirit. Never say I can’t. ”
12). “Teamwork is the ability to work together toward a common vision. It is the fuel that allows common people to attain uncommon results. ”
13). “No man will make a great leader who wants to do it all himself or get all the credit for doing it. ”
14). “The men who have succeeded are men who have chosen one line and stuck to it. ”
15). “No person will make a great business; who wants to do it all himself or get all the credit. ”
16). “Think of yourself as on the threshold of unparalleled success. A whole, clear, glorious life lies before you. Achieve! Achieve! ”
17). “You must capture and keep the heart of the original and supremely able man before his brain can do its best. ”
18). “All achievements, all earned riches have their beginning in an idea. ”
19). “The secret of success lies not in doing your own work but in recognizing the best person to do it. ”
20). “Success can be attained in any branch of labor. There’s always room at the top in every pursuit. ”
21). “The man who acquires the ability to take full possession of his own mind may take possession of anything else to which he justly entitled. ”
22). “No man becomes rich without himself enriching others. ”
23). “Do your duty and a little more and the future will take care of itself. ”
24). “I resolved to stop accumulating and begin the infinitely more serious and difficult task of wise distribution. ”
25). “The men who have succeeded are men who have chosen one line and stuck to it. ”
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