Andrew Carnegies journey from penniless immigrant to steel magnate, then philanthropist. He funded over 3,000 libraries. Andrew Carnegie's life is a classic rags-to-riches story. Born in Scotland in 1835, he emigrated to the U.S. in 1848 and began working as a bobbin boy in a factory. Through sharp investments and industrial leadership, he founded the Carnegie Steel Company, making him one of the wealthiest men in the world. The turning point came in 1901 when he sold his company to J.P. Morgan.