Andrew Carnegie Captain of industry

Skibo Castle, Dornoch Firth, Scotland

Andrew Carnegie purchased this castle in 1897, with the renovation costing about $10,000,000. This picture in contrast with his small birthplace cottage represents Carnegie working hard to earn his wealth. He was not born rich; he was a self made man.

Carnegie's steel company was very successful because Carnegie knew how to get rid of his competitors. He mastered the concept of vertical integration, where he had complete control of the production process from raw material to manufacture and sale of finished product. Andrew Carnegie's iron mining company controlled almost all of the Messabi iron ore fields, while his dock company owned the entire port facility. He also had control over coke fields, several mills, and ore boats that benefited his business tremendously.

Carnegie's Philanthropy

Carnegie gave away about $350,695,653 towards associations, like free public libraries, promoting scientific research and education, funding for steel workers and families, and many other organizations.

Flash forward to present day

Bill Gates, founder of Microsoft

Captains of industry and robber barons are not only from the Gilded Age. In present day, there are many successful people that are captains or robber barons. Bill Gates is a very successful and wealthy captain of industry.

Bill Gates has made philanthropy his full time job since stepping down from his position at Microsoft. He has already donated over $28 billion towards health, education, and economic development and other charities.

Microsoft helped shape the world to what it is today. He started out his company in the 1970s, and developed it into one of the most successful companies in the world.

Lastly, Bill Gates is considered a captain of industry because he started with nothing and ended up with $76 billion. He worked hard and made sure his employees worked hard too. For five years, he worked sixteen hour days Just like Carnegie, Bill Gates was a self made man who had to work for his success.

Credits:

Created with images by cliff1066™ - "Andrew Carnegie"

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