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Byline: Nancy Gondo
Investor's Business Daily
Charles Schwab didn't believe in saying "I don't know." If he didn't know something, he'd study it until he did.
Even in grade school, this stubborn will to learn was evident. In math class, if there was a problem that Schwab (1862-1939, no relation to the founder of Charles Schwab & Co.) couldn't solve, he never let on that this was the case. He believed he could figure out the answer.
"He'd go to the blackboard and
mark away with might and main," one of his teachers recalled in Robert Hessen'sbiography, "Steel Titan: The Life of Charles M. Schwab." "And he wouldn't stopuntil he had solved the problem or had convinced us that he knew how to get the right answer."
This approach, along with hard work, an ability to deal well with people and a keen business sense, helped Schwab become the president of United States Steel Corp., the first billion-dollar enterprise, at age 39. A few years later, in 1901, he bought Bethlehem Steel Corp. and in 10 years built it into the world'ssecond-largest steel producer.