Andrew Carnegie Essay. The Story Of Success

In: Popular topics

According to the theory of Andrew Carnegie, in the first half of life people have to earn money and in the second – to hand it out. In both cases, a magnate Andrew Carnegie has achieved an outstanding success. In this essay on Andrew Carnegie, I want to write about the story of success of this person. If you need to write an essay about great persons but you don’t have time, just ask our homework writer to help you to do it.  We work with your personal requirements. You can read more about our services here.

Biography

I start my Andrew Carnegie essay with biography. The life of Andrew Carnegie is remarkable in many aspects. The most important is that he was born in Scotland. And he ended his life in Scotland too, although his whole conscious life passed in the United States. He immigrated with his parents to America in searching for a better life at the age of 12. The Carnegie family immigrated to Pennsylvania. Pennsylvania at that time was one of the industrial centers in the United States. Railway of Pennsylvania was one of the first in the United States, and it is associated with almost all Andrew Carnegie’s successes.

Andrew Carnegie was born on 25 November 1835. Andrew graduated from all four classes when he lived in Scotland. In the U.S., Andrew was engaged in education by himself. He visited the library, which was opened only one day a week. All his free time Andrew was busy at work. At the age of 13, Andrew went to work in a textile factory. There he received promotion – starting as a laborer, he was promoted to an office clerk with a salary of $2 a week. So for three months of stay in the United States he changed three jobs. Andrew Carnegie thanks to his talent and integrity has significantly increased his income from 2 to 13 dollars. Soon the Carnegie family was able to buy their own house. Actually, Andrew Carnegie was often lucky. But luck might be used to benefit and might be missed. But Carnegie always used every chance that was given by the fate. In timeout of the work Andrew attended classes of the telegraphists that in a short time helped him to enter the service in a small office of Ohio Telegraph. At first, he was as a student, then an assistant and finally he became a leading telegraphist. Work in Telegraph Company allowed Andrew to obtain information about everything and everyone in the business circles of the city. He began to work faster than others. In 1851 Andrew's salary was $25 a month.

But an acquaintance with Thomas Alexander Scott who was the Deputy Governor of the Western section of the Pennsylvania railroad “Pennsylvania” turned the fate of the young Carnegie. He was looking for an employee that could work quickly and do it in the best way. In 1853 Andrew entered the service in “Pennsylvania”. Scott, who valued his employee and supply to him a sincere sympathy, brought Carnegie in the circle of big business. Did you read this essay about business? There is a lot of information for those who want to run a business.

The rise of the business

Andrew realized quickly that in the financial environment where the large publicly traded companies are dominated, people can make money “from the air”. After studying the structure and geography of American industry, Carnegie has taken a series of risky events. He began to try himself as a financier. One engineer asked him to produce the sleeping carriages. Soon sleeping carriages cruised across the country, the price of the stock soared and the wealth of a young entrepreneur grew. But the main success in life of Andrew Carnegie was not associated with the railways. Andrew Carnegie bought the Homestead Steel Works company, which controlled 25% of the production of steel and iron in the United States. He is famous as the founder of the first significant steel industrial company in the United States. By 1899 he combined numerous steel productions in the Carnegie Steel Corporation, which became the world's largest manufacturer of coke, pig iron of first heat (two thousand tons per day) and steel. Notable may be the fact that the Carnegie Steel Company was more cared about the consumer, not about its welfare. This company produced railroad bridges and many other finished products for the production of which was used steel.  

Carnegie couldn't notice the oil. In Pennsylvania people had discovered oil fields and there began a kind of oil fever. Carnegie bought a piece of oil-rich territory, made there a pool and filled it by a hundred thousand tons of oil and began to wait when the American sources of oil run out and he will sell it with a higher price. However, Andrew did not take into account that in the States there were also underground oilfields. Although, he used the best fields of the United States, and his workers were working 12 hours a day without breaks and weekends.

Personal life

Andrew Carnegie always was wearing colorful tweed suits in a very big cage and ordered chairs with high legs to hide his short height of 158 cm.  However, it has not saved him from such nicknames as "the little boss" and "little Carnegie". Andrew dared to marry only after the death of his mother, although his romance with his future wife, a 30-years-old Louise Whitfield, began seven years before. Carnegie at that time was already 45-years-old. After the death of his mother, he has long time feared that the news of the engagement would break mourning and would seem as a mauvais ton. The wedding took place only six months later and was at the bride's home. Everything was very quiet and they invited only those people without whom they could not celebrate it. Carnegie did not want to have children. It was probably because he didn’t want to care about them in the future. But doctors advised Louise to give birth because she had depression. So they had only one daughter. 

Philanthropy

In 1901, at the age of 65, Carnegie decided that had earned already enough and sold his business to financier and industrialist John Pierpont Morgan for $480 million. And he was engaged in charity work: he believed that the one who managed to earn a lot of money just have to use it for the good of mankind. Clearly following this principle, he donated to charitable affairs $288 million in America and $62 million in England. In terms of today's money it is about $4.5 billion. The main field of Andrew Carnegie’s charity investment was libraries. Now 40% of the U.S. population use his libraries. Carnegie donated large amounts to various universities and colleges and for the development of science – for example the yacht, which bore his name, made a voyage around the world correcting the mistakes of previous marine measurements. Another strategic direction was the struggle for peace. Carnegie believed that it will be able to stop the war by spending a lot of money. Finally, the magnate spared no expense on the pensions and on all sorts of compensation. Various funds and organizations of his name embody his philosophy helping people all over the world at present time.