Andrew Carnegie (November 25, 1835 – August 11, 1919) was a Scottish-American industrialist, steel magnate, 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.
The Carnegie family had left their home in Scotland and come to America when Andrew was 13. Andrew worked first in an American textile factory, then as a Morse code telegrapher, and then for the railroads. He served as an assistant on the Pennsylvania Railroad in the 1850s while still in his 20s. There, he learned sophisticated business management techniques—dealing with distributed assets, levels of trustworthiness, strict accountability, unforeseen problems, and cost-effectiveness. He showed a great talent for buying successful stocks, taking advantage of what we now call insider trading, which was then legal.