Education: 50 Years of Smart Giving

In income-taxless 1901, Andrew Carnegie sold his vast steel empire to J. P.

Morgan for $492 million. At the close of that huge deal, which formed the core of the new U.S. Steel Corporation, the beaming banker extended his hand and uttered the ultimate praise of the day: "Mr. Carnegie, I want to congratulate you on being the richest man in the world." What few men knew about "the greediest little gentleman ever created," as one biographer called Carnegie, was his inward conflict over wealth. He fretfully condemned the worship of money as...

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