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In 1901 history was made with one of the most important business deals of the 20th century. Andrew Carnegie sold his vast steel empire to J.P. Morgan for $480 million (equivalent to $10 billion today) and launched what he called "the business of benevolence." After spending most of his lofe amassing a fortune, it was time to give it away. Using the principles of "scietific philanthropy, "which he had outlined in his book, The Gospel of Wealth, he put his system into action. For the next 18 years, until he died in 1919, Carnegie proceeded to give away $350 million. By the time of his death, he had created 22 different Carnegie institutions and trusts all united under a single purpose: to benefit humankind....
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In 1901 history was made with one of the most important business deals of the 20th century. Andrew Carnegie sold his vast steel empire to J.P. Morgan for $480 million (equivalent to $10 billion today) and launched what he called "the business of benevolence." After spending most of his lofe amassing a fortune, it was time to give it away. Using the principles of "scietific philanthropy, "which he had outlined in his book, The Gospel of Wealth, he put his system into action. For the next 18 years, until he died in 1919, Carnegie proceeded to give away $350 million. By the time of his death, he had created 22 different Carnegie institutions and trusts all united under a single purpose: to benefit humankind....
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