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Apr 22, 2013 · Yet how was all this money amassed? Andrew Carnegie was operating in a ruthlessly competitive age and he was a tough employer.
During his lifetime, Carnegie gave away over $350 million. Many persons of wealth have contributed to charity, but Carnegie was perhaps the first to state publicly that the rich have a moral obligation to give away their fortunes.
During the last 18 years of his life, he gave away around $350 million (roughly $6.5 billion in 2023), [6] almost 90 percent of his fortune, to charities, foundations and universities. [7] .
Carnegie believed, however, that just giving away money was not enough—in fact, it could make things worse. “[O]f every thousand dollars spent in so-called charity today,” he opined, “it is probable that nine hundred and fifty dollars is unwisely spent—so spent, indeed, as to produce the very evils which it hopes to mitigate or cure.”
Nov 9, 2009 · During the U.S. Civil War, Andrew Carnegie was drafted for the Army; however, rather than serve, he paid another man $850 to report for duty in his place, a common practice at the time.
Andrew Carnegie formed the Carnegie Corporation of New York in 1911 to give away the $150 million that remained of his fortune. Since then, it has given large grants to the other Carnegie trusts as well as universities, colleges, schools, and educational entities.
May 5, 2016 · Before he died in 1919, Carnegie gave away $350 million, which inflation would make several billion today. His gifts included the eponymous New York City music hall, the Carnegie Foundation, and more than 2,500 library buildings. Born in Scotland in 1835, Carnegie came to the United States in 1848.
