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Meet Amazing Americans Industrialists & Entrepreneurs Andrew Carnegie
Andrew Carnegie around 1905
Andrew Carnegie made millions -- then made that money work for the good of other people.

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Andrew Carnegie, Philanthropist
Can you imagine becoming the richest person in the world and then giving your money away? That's exactly what Andrew Carnegie did. After retiring in 1901 at the age of 66 as the world's richest man, Andrew Carnegie wanted to become a philanthropist, a person who gives money to good causes. He believed in the "Gospel of Wealth," which meant that wealthy people were morally obligated to give their money back to others in society.

Carnegie had made some charitable donations before 1901, but after that time, giving his money away became his new occupation. In 1902 he founded the Carnegie Institution to fund scientific research and established a pension fund for teachers with a $10 million donation. Do you know of any other causes that Carnegie funded?

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