Carnegie's financial success came partly form his sales ability. It also spurred from his ability to outbid his opponents. He had created a talented management team. He also expanded while the economy was suffering and others were cutting back. This allowed him to meet demands during economic growth.
In 1892 disaster struck, workers at one plant received a pay cut and began to riot. Carnegie was on vacation at the time so Frick was in charge. He hired guards and reopened the plant by force. Fighting broke out and several people were killed. The state militia was called in and they restored order. The strike ended in failure.
In 1868 he was worth about four hundred thousand dollars which is equal to about five million dollars today. In 1900 his company produced more steel than Britain's entire steel industry. He entered retirement in 1901 when he sold his company to J.P. Morgan. At that time he was worth about two hundred fifty thousand dollars which is about four hundred fifty thousand dollars by today's standards. He then turned his energies toward philanthropy and the pursuit of world peace.
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