George Lauder

George Lauder Jr. (November 11, 1837 – August 24, 1924) was a Scottish industrialist. A trained mechanical engineer, Lauder was responsible for many of the technical advancements made in the steel industry during the Industrial Revolution including updates to both the Bessemer Process and coal washing machinery while also leading the use of steel in arms and defense. Lauder was the "cousin-brother", and business partner of, steel magnate Andrew Carnegie in the Carnegie Steel Company. The two were among the richest people in the world during their lifetimes with Lauders fortune valued at roughly $19 billion (in 2018 dollars). The sale of Carnegie Steel to J.P. Morgan in 1901 created U.S. Steel where Lauder sat on the board of directors. This became the first corporation in the world with a market capitalization exceeding $1 billion ($ billion today). Early years George Lauder was the son of George Lauder, Sr. and Seaton Morrison. His father owned the general store on the local high street in Dunfermline. George Sr. was better known in Scotland for his commitment to Scottish nationalism, an egalitarian democracy, and the Chartism cause. He was a keen radical for the time, championing the preservation of human and public rights which led to the Reform Acts of 1836. After his wife Seaton died young, Lauder Sr. became instrumental in the upbringing of his only son George and his nephew Andrew Carnegie. Lauder Jr. and Carnegie were two years apart in age and best friends as a result of their shared experiences. They affectionately referred to one another as "Dod" and "Naig" (respectively), due to their mutual inability to fully say each other's names as young children. After Andrew and his family left for America, George stayed in Scotland where he would go on to graduate from Glasgow University with a degree in mechanical engineering while studying under Lord Kelvin.