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Entrepreneurship

15 Ruthless Tycoons Who Built — and Broke — America

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2. Andrew Carnegie

2. Andrew Carnegie
Image Source: Wikimedia Commons.

Andrew Carnegie revolutionized steel production by introducing innovative techniques that significantly reduced costs and increased efficiency. He aggressively acquired rivals, consolidating the industry and fueling America’s industrial rise. However, his commitment to labor rights was questionable. In 1892, during the Homestead Strike, Carnegie’s company, under the management of Henry Clay Frick, faced a violent confrontation with workers protesting wage cuts and poor conditions. The strike ended in defeat for the workers, leading to a major setback for the union movement (britannica.com).

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