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How Did Andrew Carnegie Contribute To Power

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Andrew Carnegie is the perfect example of a rags to riches story. Mr. Carnegie started out as an extremely poor immigrant boy from Scotland. He slowly worked his way up in the world, picking up random jobs and investing in different companies. Eventually, he took advantage of advancement in the steel industry and virtually created a monopoly. This made Andrew Carnegie an extremely wealthy man. His fortunes exceeded what would be 14 trillion dollars in todays currency (Graybar). Because of Andrew Carnegie's extreme wealth, he was a very powerful person who used his power to benefit mankind. Andrew Carnegie used the power he had in a very positive way. Carnegie often donated money to different causes. For example, one of his goals from the time he was a young man was to help in the accomplishment of world peace. So, after he sold his steel company for $480 million (or in today’s dollars, about 14 trillion dollars), he started attempting to complete his goal. Between the years of 1903 and 1914, Andrew Carnegie created four …show more content…

Andrew Carnegie created thousands of libraries, hundreds of trust funds, many foundations that helped people, and he even released books under his name (Andrew Carnegie. Bloomsbury). Of course he was well known for his vast wealth from his steel company, but he was also recognized for his philanthropy. One specific person that recognized the power that Carnegie had was J.P. Morgan. Morgan was a banker who knew how much power Carnegie had gained from his steel company. Morgan, along with a few other investors, bought Andrew Carnegies Company for $480 million dollars, or over 12 trillion dollars in today’s currency (Tweedale). Morgan realized that Carnegie’s Company was the best in the steel industry. He realized how much power Carnegie had over everyone, especially the people that were in the steel industry. So, Morgan bought Carnegie out of his

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