"It is nearly always easier to make $1,000,000 honestly than to dispose of it wisely," said Julius Rosenwald, who developed this sentiment while giving away most of his $700 million mail-order fortune (Sears, Roebuck & Co.). Andrew Carnegie was uneasily convinced that "the man who dies rich dies disgraced," and to avoid that humiliation, he began investing a personal estate of $400 million in the public weal. In 1911, after twelve years of uninterrupted and unprecedented generosity, he still had $150 million left. Carnegie solved the problem by establishing the Carnegie Corporation of...
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