Andrew Carnegie was born on November 25, 1835 to William Carnegie and Margaret Morrison Carnegie in Dunfermline, Scotland. Carnegie’s father was a linen weaver, but in 1847, steam- powered looms became popular in Dunfermline leaving many of the hand loom weavers unneeded. Margaret Carnegie stepped up to the plate to provide for the family by repairing shoes and opening a small grocery store. In 1848, Carnegie and his parents made the passage to America where they joined his mother’s sisters in Pittsburgh. Carnegie later wrote that he would learn what it was like to live in poverty and to watch his father beg for money. He vowed to change that when he was a man. Carnegie’s family struggles as a child could be source to his generosity as he became wealthy and explain why his philanthropy had a positive impact on America and its history. …show more content…
During this time, Carnegie bought stock and made several other investments, but in 1873 Carnegie sold out his other interests and focused primarily on the steel business. Carnegie later created the Carnegie Steel Business. Carnegie’s success can be credited to hard work, qualified help and his attention to small details. Carnegie was able to benefit from the 1890’s great depression. While some were going bankrupt, Carnegie used his wisdom and was able to obtain more steel production corporations by buying coal and iron mines, warehouses, ships and railroads so that he could gain control of all parts of the steel process. He would oversee over one quarter of the nation’s steel production by the