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GarryVolchara [31]
3 years ago
8

How did Carnegie become the richest man in America? Why isn't he considered the richest man in modern history?

History
1 answer:
wariber [46]3 years ago
7 0

Explanation:

  • In 1901, banker John Pierpont Morgan (1837-1913) purchased Carnegie Steel for some $480 million, making Andrew Carnegie one of the world's richest men. That same year, Morgan merged Carnegie Steel with a group of other steel businesses to form U.S. Steel, the world's first billion-dollar corporation.
  • In his final years, Carnegie's net worth was US$475 million, but by the time of his death in 1919 he had donated most of his wealth to charities and other philanthropic endeavors and had only US$30 million left to his personal fortune.

Hope it's helpful ✌️

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