Which company became the first billion dollar corporation in 1901

J. P. Morgan created the first billion-dollar corporation by combining three large steel companies.

  • J.P. Morgan played a vital role when he gained control of industries like railroads.
  • Morgan helped in saving the American economy from financial problems.
  • He purchased stock in troubled companies during difficult times in the country.
  • J.P. Morgan began to invest in the steel industry and chose to join with Carnegie steel.
  • He was able to merge companies in 1901 and form the United States Steel Corporation.
  • He also financed industrial organisations that formed General Electric corporations, the United States Steel and International Harvester.

Thus option D) J. P. Morgan is the correct answer.

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