Andrew Carnegie, whose creation of Carnegie Corporation of New York 100 years ago ushered in a new type of philanthropic organization, continues to influence donors both large and small.
In a recent CBS "60 Minutes" segment on why and how philanthropist Eli Broad is giving billions away, the 77-year-old self-made billionaire told correspondent Morley Safer "I believe in two things: One, Andrew Carnegie said, 'He who dies with wealth dies in shame.' And someone once said, 'He who gives while he lives also knows where it goes,'" Broad told "60 Minutes" correspondent Morley Safer.
Andrew Carnegie is credited as being one of the innovators and inventors of the modern philanthropic foundation for his emphasis on channeling private money to be used for public good. Along with John D. Rockefeller, Andrew Carnegie understood the potential of a modern, entrepreneurial foundation.
Like Eli Broad, Mr. Carnegie sought to identify a problem and create new ways of tackling that problem. Carnegie’s approach differed radically from what had been a more passive, charitable approach.