22/06/2023
Motivational story of successful Entrepreneur Andrew Carnegie.
Andrew Carnegie was born in Dunfermline, Scotland, on November 25, 1835. He worked a number of railroad jobs after moving to the United States. He owned Carnegie Steel Corporation by 1889, which was the largest steel company in the world. He sold his business in 1901 and devoted his time to expanding his charitable efforts, which included the founding of Carnegie-Mellon University in 1904.
Andrew Carnegie was raised in Dunfermline, Scotland, a town at the heart of the linen industry. His father was a weaver, and the young Carnegie was expected to follow in his footsteps. However, the weavers' craft was destroyed by the industrial revolution that would later make Carnegie the richest man in the world. In 1847, the introduction of steam-powered looms rendered hundreds of hand loom weavers obsolete. In order to provide for her family, Andrew's mother opened a small grocery store and repaired shoes.
In a later piece, Andrew would write, "I began to learn what poverty meant." The fact that my father had to beg for work was ingrained in me at the time. I made the decision right then and there that I would get over it when I became a man.
Fearing for her family's survival, Andrew's mother persuaded the family to leave Scotland's poverty for American opportunities. In order to cover the cost of the Atlantic crossing, she borrowed twenty pounds, and in 1848, the Carnegies moved to Pittsburgh with two of Margaret's sisters, a smoky city that was the nation's iron-making capital.
Carnegie immigrated to the United States with his family when he was 13 years old. Carnegie went to work in a factory for $1.20 per week after they arrived in Allegheny, Pennsylvania, where they had settled. He got a job as a telegraph messenger the following year. He moved up to the position of telegraph operator in 1851 with the intention of advancing his career.
One of the men Carnegie met at the message office was Thomas A. Scott, then starting his noteworthy profession at Pennsylvania Railroad. Scott hired the young worker as his personal secretary and telegrapher for $35 per month after being taken in by him and calling him "my boy Andy." "I couldn't imagine what I could ever do with so much money," Carnegie wrote in his memoirs.
He gained knowledge about the railroad industry and business in general from this experience. Carnegie was elevated to superintendent three years later. Carnegie served as Scott's right-hand man and was hired at the start of the Civil War to oversee the North's military transportation.
Carnegie saw the potential in the iron industry by the time the Civil War was over, and he quit his job with the Pennsylvania Railroad. It was just one of many daring decisions that would define Carnegie's career in business and land him a fortune. The Keystone Bridge Company, which worked to replace wooden bridges with stronger iron ones, then caught his attention. He earned $50,000 annually over the course of three years.
Carnegie began investing while working for the railroad. He made a lot of good decisions, and he found that his investments, especially in oil, brought in a lot of money back. In 1865, he decided to concentrate on his other business endeavors, including the Keystone Bridge Company, so he left the railroad.
The steel industry received the majority of Carnegie's attention by the following decade. The Carnegie Steel Company, his company, revolutionized steel production in the United States. Using technology and methods that made it easier, faster, and more productive to produce steel, Carnegie constructed plants all over the country. He had everything he needed for each stage of the process: the raw materials, the ships and railroads that move the goods, and even coal fields that provide fuel for the steel furnaces. Carnegie became an extremely wealthy man and the industry's dominant force thanks to this start-to-finish strategy.
He used his money to help other people get better. Carnegie made a significant life shift in 1901. He offered his business to the US Steel Company, began by amazing agent J.P. Morgan. He made more than $200 million from the sale. Carnegie made the decision, when he was 65 years old, to help others for the rest of his life. Carnegie expanded his philanthropic efforts in the early 20th century, expanding on his earlier work of building libraries and making donations.
Carnegie was raised in a family that valued reading and education, despite his lack of formal training. Carnegie, who spent much of his life reading, gave the New York Public Library about $5 million so that it could open several branches in 1901. He founded the Carnegie Institute of Technology in Pittsburgh in 1904, which is now Carnegie-Mellon University. He was dedicated to education. He established the Carnegie Foundation for the Advancement of Teaching in 1905, the following year. He started the Carnegie Endowment for International Peace in 1910 because he was very interested in peace. He also gave a lot of money, and it is said that he helped open more than 2,800 libraries.
Carnegie also liked to travel, meet influential people, and entertain them.
Carnegie also wrote numerous articles and books. In "Wealth," an article he wrote in 1889, he argued that people with a lot of money should be socially responsible and use their wealth to help others. This was eventually published as The Gospel of Wealth in 1900.
This success story give us a motivation forhardwork and also suggests that anything is possible if one has faith in themselves.
