mar 2, 1901 - U.S. Steel Corporation Formation
Description:
Event: Andrew Carnegie sold his steel company to J.P. Morgan, who combined it with other firms to create U.S. Steel, the first billion-dollar corporation. The corporation applied vertical integration.Impact: U.S. Steel became the world’s first billion-dollar corporation, dominating the steel industry and serving as a prime example of industrial monopolies.
Added to timeline:
Date:
mar 2, 1901
Now
~ 124 years ago