Not Google or Apple, This Company Was The World’s First To Hit $1 Billion Market Cap

What comes to your mind when asked about who could have been the world’s first company to hit a $1 billion market cap -?Google, Microsoft or Apple? Well, none of them even existed when the world’s first company hit that mark.

Which Company Was The World’s First To Hit $1 Billion?

us-steel

In 1901, U.S. Steel became the world’s first company to reach the $1 billion mark, when it hit $1.4 billion after it went public.

Also Read:?How A Lost?iPhone?Led To Warren?Buffett?Investing Billions In Apple

When Was US Steel Founded?

By the late 1800s, the steel industry in the United States had surpassed the capacity of Britain’s steel production. In 1901, through the merger of several steel companies, financier J. P. Morgan formed the United States Steel Corporation, then the largest company in the world.?

The merger included Andrew Carnegie’s Carnegie Steel Company, Elbert H. Gary’s Federal Steel Company, and William Henry Moore’s National Steel Company, as well as National Tube Works, American Steel & Wire, American Sheet Steel, American Steel Hoop, American Tin Plate, American Bridge, and the Lake Superior Consolidated Iron Mines. Some of the nation’s most influential leaders of finance served on U.S. Steel’s Finance Committee, including J. P. Morgan and George F. Baker.

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Also Read:?This Chinese Company Was World's?First?To Hit $1 Trillion Market Cap

Who Is US Steel’s CEO?

David B. Burritt was appointed President and Chief Executive Officer of United States Steel Corporation in May 2017.? At that time, Burritt was also named to the company’s Board of Directors. He was elected president and chief operating officer in February 2017 with executive responsibility for all aspects of the company’s day-to-day business in the United States and Central Europe.

Burritt joined U. S. Steel in September 2013 to serve as Executive Vice President and Chief Financial Officer with responsibility for all aspects of the company’s strategic and financial matters.?Prior to joining U. S. Steel, Burritt served as Chief Financial Officer at Caterpillar Inc.

As per US Steel, Burritt was born in St. Louis, Missouri and earned a bachelor’s degree in accounting in 1977 from Bradley University in Peoria.? Burritt received a master’s degree in business administration from the University of Illinois in Champaign in 1990.??

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