Final answer:
Andrew Carnegie, a Scottish immigrant, built a fortune as the owner of US Steel and later became a major philanthropist. He used strategies like vertical integration to dominate the industry and then sold his company to J.P. Morgan. His wealth supported the creation of many educational and public institutions.
Step-by-step explanation:
The man who worked his way up from a Scottish immigrant to the millionaire owner of US Steel was Andrew Carnegie. Carnegie's story is an exemplary rags-to-riches tale, where he rose from humble beginnings to become a global leader in steel production by implementing strategies such as direct ownership of mines, foundries, and railroads to reduce costs. He later became a renowned philanthropist, donating his vast wealth to the establishment of libraries, schools, and various educational institutions.
Starting as a bobbin boy and working as a telegram messenger, his affinity for learning and growth led Carnegie to the Pennsylvania Railroad company. His interest in the railroad and steel industry was piqued during this time, and after observing the efficient Bessemer Process in England, he brought this innovation back to Pittsburgh to establish the formidable Carnegie Steel Factory.
Carnegie pioneered vertical integration, which allowed him to control all aspects of production from raw materials to transportation, cutting costs significantly. By 1900, Carnegie's operations dominated the American steel market and out-produced the entire British Empire. Eventually, he sold his steel company to J.P. Morgan, who formed the United States Steel Corporation. Carnegie's philanthropy followed his business success, as he gave away much of his fortune toward charitable causes, which marked his later life as much as his impact on industrial America.