The Empire of Business

Andrew Carnegie (November 25, 1835 – August 11, 1919) was a Scottish-American industrialist and philanthropist. Carnegie led the expansion of the American steel industry in the late-19th century and became one of the richest Americans in history. He became a leading philanthropist in the United States, Great Britain, and the British Empire. During the last 18 years of his life, he gave away around $350 million (equivalent to $6.9 billion in 2025 dollars), almost 90 percent of his fortune, to charities, foundations and universities. His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, expressed support for progressive taxation and an estate tax, and stimulated a wave of philanthropy.