Charles Schwab was known to his employees, business associates, and competitors as a congenial and charismatic person-a 'born salesman.' Yet Schwab was much more than a salesman-he was a captain of industry, a man who streamlined and economized the production of steel and ran the largest steelmaking conglomerate in the world. A self-made man, he became one of the wealthiest Americans during the Gilded Age, only to die penniless in 1939.

Schwab began his career as a stake driver at Andrew Carnegie's Edgar Thomson steel works in Pittsburgh at the age of seventeen. By thirty-five, he...