A man who let his actions speak for themselves, American steel magnate and philanthropist Andrew Carnegie (1835–1919) was born poor in Dunfermline, Scotland, on this day.

“No man will make a great leader who wants to do it all himself, or to get all the credit for doing it,” he said.

His family moved to America in 1848 in search of a better life. Young Andrew worked hard and found a mentor in Thomas A. Scott of the Pennsylvania Railroad.

“The first man gets the oyster,” Carnegie explained. “The second man gets the shell.”

Carnegie was frugal and invested wisely. By 1868, he was worth $400,000; by 1899, he controlled a quarter of American steel production; by 1902, he was among the richest men in the world.

“Concentration is my motto,” he declared. “First honesty, then industry, then concentration.”

Carnegie had great respect for education and believed wealth should serve the public good. For art and cultural excellence, he funded Carnegie Hall in New York and the Peace Palace at The Hague.

“The man who dies rich… dies disgraced,” he said, living these words with sweeping acts of philanthropy.

He generously endowed educational grants, nearly 3,000 public libraries, and a research grant to struggling scientist Marie Curie. By the time he died in 1919, Carnegie had given away more than $350 million. In today’s economy, his gifts would amount to well over $6 billion.