Which statement most accurately represents Carnegie's effect on the steel industry between 1865 and 1892?

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01-03-2017
History

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Which statement most accurately represents Carnegie's effect on the steel industry between 1865 and 1892?

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jaylyn21 jaylyn21 · Answer 1 · 2017-03-10T06:08:14-05:00

jaylyn21 jaylyn21

10-03-2017

Carnegie realized that steel was the metal of the future and began to invest in or buy up potential competitors

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andriansp andriansp · Answer 2 · 2018-10-06T21:43:10-04:00

I believe the answer is: Carnegie realized that steel was the metal of the future and began to invest in or buy up potential competitors.

Buy buying up potential competitors, Carnegie able to create a monopoly of the steel industry. If Carnegie's wealth at its peak is converted into modern day value, he had around more than $300 billion in net worth. For comparison, the current richest man in the world had the net worth of $ 160 billion.