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:
How did Andrew Carnegie impact America?
A: Andrew Carnegie was an American industrialist and businessman who lived from 1835 until 1919. His role in the steel industry helped steel become the predom... Full Answer >Filed Under: -
Q:
How did Andrew Carnegie treat his workers?
A: Many accounts of Andrew Carnegie state that he exploited his workers, and at one point he lowered wages by 30 percent, leading to a strike. Many worked for... 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: -
Q:
Why was Andrew Jackson so popular?
A: Andrew Jackson was popular for many reasons, with the main one being that he was an admired general during the War of 1812. During the war, Jackson defeate... Full Answer >Filed Under:
You May Also Like
-
Q:
What was education like in colonial Rhode Island?
-
Q:
Which families became rich during the Great Depression?
-
Q:
What is an example of representative money?
-
Q:
Where can you buy Green Dot money cards online?
-
Q:
What are some Indian tribes that are still around today?
-
Q:
Is the Cherokee Trail the same as the Trail of Tears?
