This Scottish-born American industrialist made his fortune in the steel industry, using vertical integration to decrease cost and increase profits by using vertical integration.

Andrew Carnegie.

Carnegie was born in 1835 in Dunfermline, Scotland. His family moved to America in 1848. He established the Carnegie Steel Company in Pittsburgh, Pennsylvania, which he later sold (and it became known as U. S. Steel). In later life, he became known for his philanthropy, giving of his wealth to various causes. The famous Carnegie Hall in New York City is just one example of something the wealth of Andrew Carnegie built for the benefit of others.