How Did Andrew Carnegie Donate His Money?
Quick Answer
Andrew Carnegie's primary area of interest when it came to charitable donations was education. He also donated generously to scientific research and world peace. He is considered the father of American philanthropy.
Continue ReadingFull Answer
When Andrew Carnegie retired at the age of 66, he was the world's richest man. At the time, his net worth was estimated at about $480 million. Adjusted for inflation, that amount would be the modern day equivalent of about $310 billion. His fortune was so vast that, to this day, he is one of the 25 wealthiest people who ever lived. Carnegie believed very strongly in the value of education. One of his first donations was $10 million to begin a pension for teachers, and $125 million more for the development of education. Carnegie also remembered the generosity of a gentleman who had allowed Carnegie access to his library as a child. Thus, Carnegie pledged money to build a library to any town in the United States that would supply the land and upkeep for the building. He founded an organization for scientific research and supplied the funds for the world court to be built in Switzerland. By the time he died, Carnegie had donated an estimated 90 percent of his fortune.
Learn more about US HistoryRelated Questions
-
Q:
What Are Some Interesting Facts About Andrew Carnegie?
A: Some interesting facts about Andrew Carnegie include that he worked as a bobbin boy at the age of 13. He received his education through books at the local ... Full Answer >Filed Under: -
Q:
What Did Andrew Carnegie Invent?
A: Andrew Carnegie made no inventions. However, he became one of the most successful businessmen in American history through his steel company. In 1889 Carneg... Full Answer >Filed Under: -
Q:
How Did Leland Stanford Donate His Money?
A: After the death of his son, Leland Stanford set up all of his money to go to the Stanford University, which he helped create, to the miners of California a... Full Answer >Filed Under: -
Q:
Who Is the Industrialist Who Preached the Gospel of Wealth?
A: Industrialist Andrew Carnegie preached the Gospel of Wealth in his 1889 essay, "Wealth." In this piece, he argues that people who have amassed great wealth... Full Answer >Filed Under:
You May Also Like
-
Q:
Where Can You Find a Mad Money Recap?
-
Q:
What Are Some Facts About New Mexico?
-
Q:
How Can You Donate to the Water Bill Assistance Program in Grand Prairie, Texas?
-
Q:
Where Did the Mohawk Indians Live?
-
Q:
How Did the Liberty Bell Crack in July of 1835?
-
Q:
How Long After a Lawsuit Has Been Settled Do You Get Your Money?
