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The Beginning
He visited his first steel mill at the age of 37 and decided he wanted to be in the business of making steel. -
Period: to
The Life of Andrew Carnegia
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Vartical and Horizontal Integration
Andrew came up with these ideas so that he could control the steel industry even more. Vertical integration is a process in which someone buys out his/her suppliers. Horizontal integration is when companies producing the similiar product merge. -
The Takeover
By this time, Andrew had taken over the steel business and now had manufactured more steel than all the factories in Great Britain. -
Sold
Andrew decied to sell his steel company in 1901 after h had mostly complete control over the steel industryfor about two years. He sold the business to J.P. Morgan for $480 million dollars,. -
Generosity
A few years after Carnegie retired he had decided to become a philanthropist. So by 1911 Andrew had given away about 90% of his welth to various organizations. -
His Death
Andrew died from bronchopneumonia which is the inflamaiton of the lungs.
