In 1901, andrew carnigie sold his steel company to jp.morgans newly

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Andrew Carnegie (1835–1919) was an American industrialist who amassed a fortune in the steel industry and a major philanthropist in the 19th Century. By 1899 he established and owned Carnegie Steel Corporation of New York and sold it in 1901 to banker John Pierpont Morgan for $480 million and fully dedicated his time towards the expansion of his philanthropic work, including the establishment of Carnegie-Mellon University in 1904. Andrews fortune has since supported everything from the discovery of insulin to the dismantling of nuclear weapons and towards the creation of Pell Grants and Sesame Street.

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