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Andrew Carnegie - Sold Carnegie Steel to JPM for...

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Andrew Carnegie Chosen because: he intrigued me, philantrophy Born: 25 Nov 1835, Dunfermline, Scotland No formal education, immigrated in childhood, first job at age 13, 72 hrs/wk, 2$ Worked way up from telegraph boy to superintendent of PITTSBURG AREA IN the penn railroad company. Thomas A Scott and J. Edgar Thompson, insider trading and payoffs Investments in oil and iron ore reserves made Carnegie a lot of money Spent time writing books and studying investing and eco Made his fortune through cheap mass production of steel for railroads and massive vertical integrations. Show integration chart
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Unformatted text preview: Sold Carnegie Steel to JPM for $480M ($10.3 B), paid in 5% 50- year gold bonds Spent final years doing philantrophy. Making up for his business deals, Died 11 Aug 1919, donated $350,695,653 ($4.3 B) Works and ability to mass produce efficiently provided much of the steel that helped expansion and modernization of US Truly mastered vertical integration 3 +’s and –‘s: (+) taught about integration, greatly helped in the industrial revolution, allowed for much philantrophy, (--) bad business practices, eliminated much of the competition....
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