The Carnegie Corporation is giving the award every two years to commemorate a philanthropist U.S. businessman Andrew Carnegie of Scottish origin.
Over 20 institutions, launched by Carnegie, have the responsibility for judging awardees and honoring those chosen for the Carnegie Medal of Philanthropy, since 2001.
In 2007, the World Monuments Fund granted Koc family the "Hadrian Award" given to persons or institutions that contribute to world cultural heritage.
U.S. industrialist Andrew Carnegie (1835-1919) established the Carnegie Steel Company in 1870s.
At age sixty-five, he sold the company to J. P. Morgan for $480 million and devoted the rest of his life to his philanthropic activities and writing, including his autobiography.
Carnegie donated 90 percent of the money he earned from the sale of his company. (calculated as approximately 13 billion USD)