 Henry
Phipps (1839-1930) was born the son of an immigrant cobbler
in 1839. He grew up in poverty stricken conditions in Pittsburgh,
Pennsylvania with Andrew Carnegie. It was Henry Phipps' friendship
with Mr. Carnegie that led him to invest, in 1861, in an iron
works operation. In 1901 the Carnegie Company was purchased
by J.P. Morgan, and it became US Steel. Mr. Phipps retired,
affluent beyond his expectations, and devoted his life to
philanthropy.
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