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Steel Titan: The Life of Charles M. Schwab Paperback – October 9, 1990
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Top Customer Reviews
Schwab earned recognition by putting together the conglomerate that produced US Steel, the largest steel corporation in history. By convincing Andrew Carnegie to sell his business interests and joining the original JP Morgan to finance the giant new company, Schwab displayed a shrewdness that elevated him to elite status among the kings of deal making.
Schwab became the first man on record to receive a million dollar annual salary in 1901 with US Steel, but left the company within two years due to the inefficiencies he saw being permitted. He purchased Bethlehem Steel, a near insignificant operation at the time, and built it into a giant of its own, second only to US Steel for many years.
Ironically, outside of the business world, Schwab's outlook on life could not have been further from the view of his original mentor, Andrew Carnegie. Schwab was a player, a partier, a high roller, and believed wholeheartedly that it was more morally just to spend frivolously than to give to charity; a thought based on the fact that he was giving back to the economy no matter how he spent his money, something hard to argue. As a result, Schwab, who at one time was worth millions and millions of dollars, spent himself into a near penniless stage dying without any money to his name.Read more ›
I am a Bethlehem Steel fan and this book gave me the insight about Charlie Schwab
that I never knew about. Definitely good reading.