Sixty-year-old only child: The system taught me how to become rich

Andrew Carnegie - Carnegie was an immigrant from Scotland. He started working in a factory at age 12 and worked his way up. At the age of 38, he entered the steel industry developed by the railroad. Carnegie Steel became the world's largest steel company. In 1901, he sold his company for $2.5 million. After selling the company, he donated millions of dollars to charity.

The way this guy makes money is...

John D. Rockefeller - John D. Rockefeller entered the oil industry during the Civil War. He didn't like competing with others, so he tried to eliminate all competition. By 1882, his company, Standard Oil, controlled 90 percent of the U.S. oil business. In 1882, he established the Standard Oil Trust Company to further control the oil business.

The way this guy makes money is...

JP Morgan - J.P. Morgan was trained as a banker to lend money to growing businesses. His bank became one of the largest banks in the United States and remains one of the largest banks today. He also controlled many defunct railroads. He reorganized these railroads and built profits. He also controls electric power insurance companies and shipping companies. Eventually he bought Andrew Carnegie's steel company and turned it into the largest U.S. steel company in the world.

The way this guy makes money is...

Henry Ford - Entrepreneur Henry Ford dramatically changed the automobile industry. The automobile was invented around the turn of the century (1900). People started using cars. However, at first only the very wealthy could buy cars. Ford opened his own car company and started using assembly lines. This process allows each worker to perform a specific job. Ford also paid workers higher wages and set a standard that enabled workers to buy their own cars. Ford became the largest automobile company in the United States.

The way this guy makes money is...

**How ​​Andrew Carnegie made money:**

Carnegie entered the steel industry, worked his way up the ranks, and eventually founded the Carnegie Steel Company. Through his successful development in the steel industry, he made the company one of the largest steel companies in the world. Eventually, he made a huge fortune by selling the company and donating some of the money to charity.

**How ​​John D. Rockefeller made money:**

Rockefeller entered the oil industry and attempted to gain control of the oil business by eliminating competition. He founded the Standard Oil Company, which controlled most of the oil business in the United States. Later, he further consolidated his control over the oil business by establishing the Standard Oil Trust Company.

**How ​​JP Morgan makes money:**

By training as a banker and lending money to growing businesses, Morgan established JPMorgan Chase Bank, which became one of the largest banks in the United States. He controlled several railroad, electric power, insurance and shipping companies and realized profits by reorganizing and consolidating these businesses. Eventually, he purchased Andrew Carnegie's steel company and grew it into the largest U.S. steel company in the world.

**How ​​Henry Ford made money:**

Ford made his fortune by transforming automobile manufacturing. He founded the Ford Motor Company and introduced assembly line production methods to make automobile manufacturing more efficient. By raising worker wages and setting standards to make cars affordable for workers, he achieved Ford Motor Company's success as one of the largest auto companies in the United States.