Andrew Carnegie: From Steel Titan to Enduring Philanthropist

Carnegie Corporation president reflects on the legacy of the once-richest man in the world

Published on Feb. 12, 2026

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In this America: 250 Years Bold spotlight, Louise Richardson, President of Carnegie Corporation of New York, reflects on the enduring legacy of Andrew Carnegie who was once the richest man in the world. After building Carnegie Steel into an industrial powerhouse, he devoted his fortune to philanthropy, funding 2,500 public libraries and advancing education and peace.

Why it matters

Andrew Carnegie's transition from ruthless industrialist to renowned philanthropist serves as an inspiring example of how great wealth can be leveraged to create lasting positive change in society. His focus on funding public libraries and educational initiatives helped democratize access to knowledge and opportunity.

The details

After amassing a vast fortune through his steel company, Carnegie dedicated the latter part of his life to giving away his wealth. He funded the establishment of over 2,500 public libraries across the United States, United Kingdom, and other countries, providing free access to books and resources. Carnegie also made significant donations to universities, museums, and organizations promoting world peace, aiming to advance education and international cooperation.

  • Andrew Carnegie built Carnegie Steel into an industrial powerhouse in the late 19th century.

The players

Louise Richardson

President of the Carnegie Corporation of New York, which was founded by Andrew Carnegie.

Andrew Carnegie

Once the richest man in the world, he transitioned from building an industrial steel empire to becoming a renowned philanthropist.

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What they’re saying

“After building Carnegie Steel into an industrial powerhouse, he devoted his fortune to philanthropy, funding 2,500 public libraries and advancing education and peace.”

— Louise Richardson, President, Carnegie Corporation of New York (CNBC)

The takeaway

Andrew Carnegie's remarkable transformation from ruthless industrialist to generous philanthropist serves as a powerful example of how great wealth can be leveraged to create lasting positive change in society, particularly through investments in public education and institutions that promote knowledge and international cooperation.