Wednesday, July 27, 2011

They Gave and Got Rich: Andrew Carnegie

Andrew Carnegie, the steel tycoon, had such riches that he offered the people of Philippines $20 million, if they wished to buy their freedom from the United States. This was the price for which the United States bought the island nation from the Spanish.

His net worth was estimated at $290 billion. He spent more than $350 million in charitable works.

Andrew Carnegie's philanthropic works:

  • Established 3,000 public libraries in the United States, the United Kingdom, Ireland, Australia, New Zealand, the West Indies, and Fiji.
  • Donated £50,000 to set up the University of Birmingham
  • Ardently supported the Spelling reform movement to promote the English language
  • Founded the Carnegie Institute of Technology (CIT), Pittsburgh (now part of the Carnegie Mellon University)
  • Founded the Carnegie Institution, Washington, D.C.
  • Set up the Carnegie Trust for the Universities of Scotland
  • Set up the Carnegie United Kingdom Trust
  • Established pension funds for his employees at Homestead
  • Pension funds for college professors in the U.S.
  • Funded 7,000 church organs in the US..
  • Built the Carnegie Hall in New York City
  • Was a large benefactor of the Tuskegee Institute for African-American education
  • Helped Booker T. Washington create the National Negro Business League.
  • Founded the Carnegie Hero Fund for the USA, Canada, UK, Switzerland, Norway, Sweden, France, Italy, the Netherlands, Belgium, Denmark, and Germany. It recognizes deeds of heroism in these countries.
  • Contributed $1.5 million for the Peace Palace, The Hague
  • Donated $150,000 for a Pan-American Palace in Washington for the International Bureau of American Republics.
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