The Legacy of Andrew Carnegie

Andrew Carnegie might be the single greatest example of entrepreneurial spirit and wealth-building in the history of the United States. Born in 1835 as the son of a handloom-weaver father, in Dunfermline, Scotland. Andrew came to the United States at the age of 13 when his family emigrated to Pittsburgh, Pennsylvania in 1948. He got his first job there that year, earning $1.20 per week in a textile mill. Next, Carnegie advanced to steam room engine operator, making $2 per week.

The following year, he became employed as a early form of bicycle messenger--telegraph message deliverer. He got paid $2.50 per week for this. From there he moved up to the prestigious job of telegraph operator--and he doubled his pay to $5 per week.

This latest job eventually took him to the heights. In 1853, his skills got him a job at the Pennsylvania Railroad for $35 a month assisting superintendent Thomas Scott as his personal telegrapher and general assistant. But more importantly, this was where Carnegie learned about the railroad industry which would play such a prominent role in his life and wealth creation later on and, from Scott himself, investing in the stock market.

When he got paid his first dividend check from a company he invested in, he exclaimed to Scott, "It's the goose that laid the golden eggs!" This can be said to be the beginning of the Andrew Carnegie known to history--the one who became the richest person in the world and who gave away fortunes as philanthropic acts (as Carnegie believed the wealthy were obligated to help those who were less fortunate for the betterment of all society).

Carnegie went on to use his foresight gleaned from the railroad business to foresee the future increasing demand for iron and steel and the continued growth of the railroad industry. He mastered these industries--sometimes making unyielding business decisions that unfairly garnered him a reputation of being merely manipulative--and coupling these with his stock market expertise he eventually became worth, in today's dollars, $300 billion. (Yes, that "b" is the correct letter.)

But, before he died, Carnegie gave way nearly all of his vast fortune to carefully chosen philanthropic causes--as he had always planned to do when he got to where he felt he had only a few years left to live. But the greatest part of his fortune he gave away was not financial at all.

Andrew Carnegie came into the belief during his decades of wealth accumulation that that while there had been many great and noble philosophers from ancient times, such as Socrates and Plato, throughout history right on up to the present day, such as William James, none of them had properly addressed the one great philosophy that could truly help "the man on the street" has he himself once had been. And Carnegie believed that this new philosophy that could transform the world person by person was one that dealt directly with economics, not merely morés. Now, it needs to be understood that Andrew Carnegie's economics-based philosophy was not one of cold, hard numbers and the abstract, "sanitized" language of economics so often used today. It was a passionate philosophy deeply informed with high spiritual values. At root, it was a philosophy of controlling and focusing one's Power to Think . If we thought rightly on a consistent basis, believed Carnegie, we would be able to become as rich as we desire and needed, and achieve any other dreams of success that burned within us. If we failed to think rightly, we would fail in our lives.

Here's how Andrew Carnegie gave this most important part of his fortune away: he took it upon himself to teach a young "disciple" named Napoleon Hill. Before he took him on, Carnegie (after meeting with him for three days and letting him sleep in his mansion at no charge) asked Hill if he would be willing to spend 20 years studying while paying his own way (Carnegie did pay for Hill's travel expenses when he sent him to see certain people such as the not-yet-great Henry Ford) in order to master what Carnegie had to teach him. At first ready to refuse, something prompted Hill to say "yes".

Listen to an older, wiser Napoleon Hill in his own words recall that meeting with Andrew Carnegie. A meeting that changed his life and the lives of millions who would read his books. Click here for this rare video.

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Napoleon Hill went on to master the spiritual principles of great wealth creation, make his own life a stunning success, and teach the Andrew Carnegie Science of Success Philosophy to millions of people through lectures, films, books, and institutions that he set up. Hill's book 'Think and Grow Rich' is one of the greatest non-fiction best-sellers in history.

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To your Continued Success

CSG