In 1901, which company famously became the world’s first billion-dollar corporation?
Sears, Roebuck & Company
Answer: U.S. Steel Corporation was the first company to reach a market valuation of one billion dollars in 1901. At the beginning of the 20th century, a number of businessmen were involved in the formation of United States Steel Corporation, including Andrew Carnegie, Elbert H. Gary, Charles M. Schwab, and J.P. Morgan. J. P. Morgan and attorney Elbert H. Gary founded U.S. Steel on March 2, 1901 by combining Andrew Carnegie’s Carnegie Steel Company with several other steel and iron businesses. It was capitalized at $1.4 billion making it the world’s first billion-dollar corporation.
United States Steel Corporation, more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations in the United States, Canada, and Central Europe. Wikipedia
Stock price: X (NYSE) $29.97 -0.23 (-0.76%)
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CEO: David B. Burritt (May 8, 2017–)
Headquarters: Pittsburgh, PA
Founders: Andrew Carnegie, J. P. Morgan, Charles M. Schwab, Elbert Henry Gary
Subsidiaries: U. S. Steel Košice, s.r.o., U. S. Steel Canada Inc, MORE