Final answer:
A person who distributed his wealth for public welfare during the Gilded Age is termed a Philanthropist, exemplified by Andrew Carnegie and his significant charitable contributions. While new technology fueled urbanization, the era also saw figures like Jay Gould known as 'robber barons' for their exploitative business practices.
Step-by-step explanation:
A person who gave away his money during the Gilded Age for public good is known as a Philanthropist. An example of such a person is Andrew Carnegie, who was a prominent industrialist known both for his role in expanding the American steel industry and for his significant philanthropic efforts. Carnegie's commitment to giving back to society was articulated in his essay, The Gospel of Wealth, in which he argued that the wealthy have a moral obligation to distribute their fortune for the greater good of society.
During this era, the burst of new inventions like commercial electricity and the steam engine propelled the process of urbanization, allowing industries to move away from water sources and establish themselves in cities. This led to a shift in the population from rural areas to urban centers, as people sought employment in the resulting factories and industrial settings. Simultaneously, certain businessmen like Jay Gould became infamous as "robber barons" due to their exploitative practices, particularly in the railroad industry, which contrasted with the philanthropic approach taken by individuals like Carnegie.