11 feb 1885 año - Andrew Carnegie

Descripción:

Carnegie came to the U.S. as a poor Scottish immigrant in the 1840s. He got a job (even though he was a child) as a bobbin boy.

Quickly he worked his way up by working extra and by charming powerful people. He put some of his earnings in railroad stocks, made a lot of money from that, and then made his own company called Carnegie Steel.

It was wildly successful; it was producing ¼ of the U.S. 's bessemer steel by 1900. He eventually sold the company to J.P. Morgan for over $400 million and was one of the richest men in the world.

Significance:
- Carnegie represented the American Dream to many people at the time. He embodied the rags-to-riches story and the idea that one could jump up the social ladder in the U.S. Many immigrants came to the U.S. believing they could be the next Carnegie. However, most of them would not be; Carnegie was an outlier as most immigrants did not become rich in the U.S.
- Carnegie introduced the idea of vertical integration to the U.S which is when a business owns the natural resources, the manufacturing, and the distribution.
- Carnegie donated $350 million (which would be billions of dollars today) or 90% of his wealth. He donated to libraries and other organizations. Many organizations today are named after him because of this.

Añadido al timeline:

fecha: