U.S. Steel Born: World's First Billion-Dollar Firm
J. P. Morgan merged Andrew Carnegie's steel empire with Federal Steel and National Steel to create U.S. Steel, the world's first billion-dollar corporation. Capitalized at $1.4 billion and controlling two-thirds of American steel output, the company exemplified the era of industrial consolidation and became the standard against which all future corporate mergers would be measured.
February 25, 1901
125 years ago
Key Figures & Places
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