Andrew carnegie: philantrophy
written by elaine ton
Carnegie is known as one of the pioneers for businessmen devoting their lives to philanthropy. Although Carnegie became one of the richest men in America by the age of 35, Carnegie always contemplated whether he wanted to continue making more money or to devote himself to the betterment of mankind. At the age of 35, Carnegie decided he would dedicate his life to education, writing, and philanthropy. In 1901, Carnegie sold Carnegie Steel Company to J.P. Morgan for about $480 million, presently $13 trillion, at the age of 65. Carnegie then devoted the rest of his life to philanthropy.
Although Carnegie had already begun his philanthropic work years earlier by building libraries and making donations, Carnegie expanded his efforts after his retirement. Carnegie donated $56 million to build 2,800 public libraries (“Andrew Carnegie. biography” 8). To support education, he established the Carnegie-Mellon University and then created the Carnegie Foundation for the Advancement of Teaching. His interest in music led him to fund a construction of 7,600 church organs, and later built and own Carnegie Hall ("Andrew Carnegie" 8). Carnegie also formed the Carnegie Endowment for International Peace in 1910 to support peace efforts around the world. These are only a few of the many donations nonprofit organization he made during his life.
Carnegie’s most important piece of writing is The Gospel of Wealth, which stated that people with great wealth have a social responsibility to use their assets to aid others ("Philanthropy of Andrew Carnegie" 2). Although Carnegie made millions selling his steel company, Carnegie gave away $350 million dollars, presently $4.8 billion, during his lifetime. Carnegie philanthropic career a lasting impact on today’s society because he taught the importance of donating back to society.
Although Carnegie had already begun his philanthropic work years earlier by building libraries and making donations, Carnegie expanded his efforts after his retirement. Carnegie donated $56 million to build 2,800 public libraries (“Andrew Carnegie. biography” 8). To support education, he established the Carnegie-Mellon University and then created the Carnegie Foundation for the Advancement of Teaching. His interest in music led him to fund a construction of 7,600 church organs, and later built and own Carnegie Hall ("Andrew Carnegie" 8). Carnegie also formed the Carnegie Endowment for International Peace in 1910 to support peace efforts around the world. These are only a few of the many donations nonprofit organization he made during his life.
Carnegie’s most important piece of writing is The Gospel of Wealth, which stated that people with great wealth have a social responsibility to use their assets to aid others ("Philanthropy of Andrew Carnegie" 2). Although Carnegie made millions selling his steel company, Carnegie gave away $350 million dollars, presently $4.8 billion, during his lifetime. Carnegie philanthropic career a lasting impact on today’s society because he taught the importance of donating back to society.
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