Steel-baron Andrew Carnegie was one of the richest Americans in history and a true bootstrap success. The Scottish-born industrialist began work as a telegraph boy at the age of 14, helping to support his family while working his way up to superintendent of the Pennsylvania Railroad. Shrewd investments in railroads and other infrastructure in the growing United States allowed him to accumulate the capital with which he built his Carnegie Steel Company. When he sold the company to J.P. Morgan, it became the backbone of U.S. Steel and Carnegie became the richest American of the time. He could go on to become one the world’s greatest philanthropists, giving away 90% of his fortune – about $350 million- to charity.
Although he gave away most of his fortune, Margaret “Midge” Carnegie’s life as Andrew’s daughter, her $15 million inheritance, and a trustee of the Carnegie Foundation afforded a lavish lifestyle. The heiress made her home at a stunning Hudson Valley mansion she named “Migdale Castle.” One of the grandest estates in New York, it is set to be auctioned by Concierge Auctions.
