Andrew Carnegie and US Steel founding

Carnegie scales Bessemer's process to economies of scale, becoming the richest man in the world; sells to JP Morgan for $480M; US Steel later represents the establishment that fails to adopt BOF and continuous casting.

Then a guy came along to become the richest man in the world ever — well maybe not ever, there might be some people in ancient times, it's kind of hard to convert — but Andrew Carnegie came along. If you read Andrew Carnegie's life story, some people find he was a very ethical person, and other people say he pulled some shady deals to get where he got. You can say the same thing about Bill Gates or Warren Buffett or whatever when you get that wealthy. But he was worth about a hundred billion dollars in today's dollars. He sold the steel company, US Steel, to JP Morgan for 480 million. Doesn't sound like much today, but back in those days a day's salary could be ten cents.