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Carnegie founded the Carnegie Steel Company in 1892. He earned millions and became an iconic figure in America. When he reached sixty-five years of age, Carnegie sold his company for 480 million dollars. He selflessly devoted the rest of his life to philanthropy.
By the time of his death in 1919 he had given away nearly ninety percent of his total wealth. Carnegie insisted that "The man who dies thus rich dies disgraced," consequently he strove his entire life to become a man of honor by doing what he knew best: Service.
(Philanthropy Round Table)
He warned that a society needs a population of those who assist one another in order to prosper.
Carnegie eventually gave over 350 million dollars. His money had mostly gone to causes that would have a lasting effect. He funded over 2,500 public libraries, multiple institutes of higher learning, and founded the Carnegie Corporation. This corporation works globally by giving grants to thousands of organizations in pursuit of knowledge.
"There were only a few public libraries in the world when Carnegie began promising a library to almost any town that would provide a site and promise to maintain the building. He donated more than $56 million to build 2,509 libraries throughout the world, many of which are still serving their communities."
(Carnegie Corporation of New York)
Heeding his own advice, Carnegie helped build the institutional infrastructure of America. He donated $350 million in his lifetime. If that doesn't sound like much, it's $5.4 billion in 1995 dollars"
("Where Have You Gone, Andrew Carnegie" Washington Monthly, May 1996)
The remarkable characteristic in Carnegie is that he began the business of charity before many men of his day and without being forced by a trial. The Carnegie Corporation began in 1911 two years prior to the opening of the Rockefeller Foundation. Carnegie's tremendous economic endorsements set a standard for various organizations that followed him.
"Smaller funds with more limited purposes had existed before, but according to the Foundation Center, the combined assets of foundations...amounted to about $1.5 billion (in present-day dollars). Carnegie’s gift alone surpassed that, and others soon followed suit. In the second decade of the 20th century, 78 large foundations were set up, with endowments that would amount to over $16 billion today; during the next, another $16 billion was added in 173 grantmaking organizations. Most are still operating."
(Philanthropy Round Table)
By the time of his death in 1919 he had given away nearly ninety percent of his total wealth. Carnegie insisted that "The man who dies thus rich dies disgraced," consequently he strove his entire life to become a man of honor by doing what he knew best: Service.
(Philanthropy Round Table)
He warned that a society needs a population of those who assist one another in order to prosper.
Carnegie eventually gave over 350 million dollars. His money had mostly gone to causes that would have a lasting effect. He funded over 2,500 public libraries, multiple institutes of higher learning, and founded the Carnegie Corporation. This corporation works globally by giving grants to thousands of organizations in pursuit of knowledge.
"There were only a few public libraries in the world when Carnegie began promising a library to almost any town that would provide a site and promise to maintain the building. He donated more than $56 million to build 2,509 libraries throughout the world, many of which are still serving their communities."
(Carnegie Corporation of New York)
Heeding his own advice, Carnegie helped build the institutional infrastructure of America. He donated $350 million in his lifetime. If that doesn't sound like much, it's $5.4 billion in 1995 dollars"
("Where Have You Gone, Andrew Carnegie" Washington Monthly, May 1996)
The remarkable characteristic in Carnegie is that he began the business of charity before many men of his day and without being forced by a trial. The Carnegie Corporation began in 1911 two years prior to the opening of the Rockefeller Foundation. Carnegie's tremendous economic endorsements set a standard for various organizations that followed him.
"Smaller funds with more limited purposes had existed before, but according to the Foundation Center, the combined assets of foundations...amounted to about $1.5 billion (in present-day dollars). Carnegie’s gift alone surpassed that, and others soon followed suit. In the second decade of the 20th century, 78 large foundations were set up, with endowments that would amount to over $16 billion today; during the next, another $16 billion was added in 173 grantmaking organizations. Most are still operating."
(Philanthropy Round Table)