1901 he sold the company to a group headed by financier-industrialist
J. P. Morgan for some $400 million ($7.4 billion in today’s dollars).
Carnegie devoted the remainder of his life to philanthropic causes. He established some 2,500 public libraries, founded the
Carnegie Institute of Technology (later Carnegie-Mellon University),
and in 1911 established
his major philanthropy, the Carnegie
Foundation, to promote the advancement and diffusion of knowledge One of his most significant, if less well-publicized and recognized achievements was, of course,
starting the young NapoleonHill off on the journey that led to Hill’s interviews with some of the world’s greatest achievers—and to the systematic development of the principles of success and
The Think and Grow Rich Philosophy, which
Carnegie wished to make available to all individuals, no matter what their background or personal circumstances.
2
Arthur Nash Arthur Nash (1870-1927)
was originally a minister(Disciples of Christ) who left the pulpit fora career in the garment industry. After only seven years in the business, he had founded the
Arthur Nash Company, a wholesale tailoring concern in Cincinnati.
The Nash Plan in which
workers co-owned the business, was one of his management innovations. Nash is the author of
The Golden Rule ofBusiness, a popular business book in the early 1920s.
3
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