At this time, young Carnegie, age 24, had already made some small investments that laid the foundations of his near future fortune. One of these investments was the purchase of stock in the Woodruff Sleeping Car Company.
In 1864, Carnegie entered the iron business, but did not begin to make steel until years later. In 1873, he built the Edgar Thomson works in Braddock, Pennsylvania, to make Bessemer steel. He established many other steel plants, and in 1892, he merged all of his interests into the Carnegie Steel Company. This act from Carnegie is fitting with one of his most famous quotations, "Put all of your eggs in one basket, and then watch that basket.aE This firm becam