Philanthropists and Robber Barons Philanthropy is Examples of philanthropy from These guys were called ROBBER BARONS because John D. Rockefeller Andrew Carnegie Cornelius Vanderbilt James B. Duke

Andrew Carnegie Andrew Carnegie was a steel magnate, self-made businessman and millionaire. In 1892, workers called a strike at his steel plant in Homestead, Pennsylvania. Carnegie hired men to break up the strike leading to violent confrontations. He monopolized the steel industry.

Carnegie Philanthropy Later in Carnegie’s life he wrote a book called, The Gospel of Wealth, which promoted philanthropy (wealthy citizens who donate to public good). He donated to many cities and towns for public libraries and reading education. He donated $125 million to the Carnegie foundation to help fund colleges. He donated over 90% of his wealth.

John D. Rockefeller Rockefeller owned Standard Oil Company and monopolized the oil industry.

He used shady business practices such as making deals for cheap oil for railroad companies and not paying his workers enough. The Sherman Anti-Trust laws were created in response to his business practices.

John D. Rockefeller Philanthropy Before his death in 1937, Rockefeller gave away nearly half of his fortune. Churches, medical foundations, universities, and centers for the arts received hefty sums of oil money. Whether he was driven by good will, conscience, or his devout faith in God is unknown. Regardless, he became a hero to many enterprising Americans.

Cornelius Vanderbilt Cornelius Vanderbilt was a railroad tycoon who monopolized most of the railroad and steamship industry in the 19th century. Watch the VIDEO at: https://www.youtube.com/watch?v=keRTBBY0VIc

Cornelius Vanderbilt The only donation he made was in 1873, toward the end of his life, when he gave $1 million to build and endow Vanderbilt University in Nashville, Tennessee. His descendents went own to continue building his empire. His grandson had the Biltmore Estate in Asheville, NC built.

Robber Baron - a wealthy person who tries to get land, businesses, or more money in a way that is dishonest or wrong

Robber Baron Political Cartoons

The ukes Learn about how NC’s famous Duke Energy came to be and how the Dukes turn from robber barons to philanthropists. Click on the VIDEO link: http://www.philanthropyroundtable.org/almanac/hall_of_fame/james_b._duke