Carnegie and Rockefeller: Captains of Industry Essay
Andrew Carnegie was principally involved in the steel industry. Andrew Carnegie emigrated from Scotland to America with his family when he was a young boy. He was first hired at a textile mill making only $1.20 a week. Not long after that, he found another job in a textile mill making a little bit more money. In 1849, Carnegie’s uncle got him a job at a telegraph company as a messenger boy. When Carnegie was 17, he got hired by the Pennsylvania Railroad. This was the biggest break of his life because his boss, Thomas A. Scott, helped him make investments in the rail.He made some of his wealth from this and then put that money into his steel company. Carnegie’s business philosophy was that business was the survival of the fittest and that only the truly strong businesses will survive. Carnegie donated a lot of his money to libraries.He also gave a lot of money to museums including Carnegie Museums of Pittsburgh, Andy Warhol Museum, Carnegie Museum of Natural History, etc…He also gave money to observatories like Mount Wilson Observatory.
John D. Rockefeller was principally involved in oil. Rockefeller’s rise to power all started when he went to a 10-week course on bookkeeping at Folsom’s Commercial College. After he was finished, he went to Cleveland to find a job when he was 16. He was eventually hired as an assistant bookkeeper by Hewitt and Tuttle. By the time he was 19, he was climbing in the ranks at Hewitt and Tuttle. When he turned 20 Rockefeller, and his friend Maurice Clark each put up $2000 and formed Clark and Rockefeller. After one year of business their profit was $4400, and at the end of the second year, their profit was $17,000.In the early 1860s, he realized that his success in Cleveland was going to be limited.He began investing in oil in 1862.By 1863 he decided he was going to be able to make his money in oil.He started making his supplies for oil refining; he hired his plumber and made his barrels.