When Andrew Carnegie retired in 1901 he decided he wanted to become a philanthropist. Carnegie believed in " The Gospel of Wealth" which meant he believed he needed to give money away to people less fortunate. In 1902 Carnegie founded the Carnegie Institution. This Institution helped support scientific research. In the same year he also donated $10 million to set up a pension fund for teachers.
Carnegie also built more then 2,000 public libraries. He also gave $125 million dollars for the Carnegie Corporation, which helped support schools. Andrew Carnegie also built the Hague Palace of Piece. This houses the World Court in Netherlands.
