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andreev551 [17]
3 years ago
15

Who controlled much of America's wealth during the 19th 20th centuries

History
1 answer:
Lyrx [107]3 years ago
3 0
War ll george Washington
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November 25, 1835 – August 11, 1919) was a Scottish-American industrialist and philanthropist. Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans in history.[6] He became a leading philanthropist in the United States and in the British Empire. During the last 18 years of his life, he gave away $350 million (conservatively $65 billion in 2019 dollars, based on percentage of GDP) to charities, foundations, and universities – almost 90 percent of his fortune.[7] His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and stimulated a wave of philanthropy.

Carnegie was born in Dunfermline, Scotland, and emigrated to the United States with his parents in 1848 at age 12. Carnegie started work as a telegrapher, and by the 1860s had investments in railroads, railroad sleeping cars, bridges, and oil derricks. He accumulated further wealth as a bond salesman, raising money for American enterprise in Europe. He built Pittsburgh's Carnegie Steel Company, which he sold to J. P. Morgan in 1901 for $303,450,000.[8] It became the U.S. Steel Corporation. After selling Carnegie Steel, he surpassed John D. Rockefeller as the richest American for the next several years.

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The <u>Cold</u> <u>War</u> was the state of political hostility between countries without an outright declaration of war. The hot war ended, and the cold war started. The United States and the Soviet Union fought together against Germany. Since the end of the war, they became hostile to one another. Each worried about the strength of the other one.

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