Andrew Carnegie And The Steel Industry Essay

524 Words3 Pages
Andrew Carnegie was a major capitalist of the 19th century. He became a major capitalist in the steel industry. He attained much of his wealth because he practically created the steel industry. Starting from the bottom and working is way to the top Andrew Carnegie became one of the richest men during his time. Starting at earning a dollar and twenty cents a week. Over time he will gain experience as a telegraph messenger and work at a Pennsylvania railroad this will help him to get a job in the railroad industry and three years later he is the superintendent. The next decade Andrew now owns his own steel business called Carnegie Steel Company. Andrew Carnegie revolutionized steel as we knew it using technology and procedures that made making steel much faster. For this he is a “Captain of the Industry”. Carnegie was a smart business man unlike most industry’s during his time instead of buying the other companies out he would make his prices lower than another producer which would send them out of business. He helped out many by making colleges for individuals to attend and he gave back to his community by donating 56 million dollars to build libraries.…show more content…
Rockefeller. He was the major capitalist of the oil industry. John D. Rockefeller began to earn his money fairly quickly. He built his first oil refinery near Cleveland in 1863 and by 1870 he already created his own oil business. Standard Oil Company will grow rapidly and will viciously begin to take out the other competitors one by one. John d. Rockefeller was the exact definition of a “Robber Baron”. He played dirty by buying out companies and then using those to buy out other competitors. He raised prices in areas with no competition to destroy other companies, also he would spy on other companies to better understand what kind of competition he had. These factors are what make John D. Rockefeller a “Robber Baron” in
Open Document