The United States Steel Corporation (U.S. Steel) is a major American steel producer founded in 1901. It was formed through the merger of several steel companies including Andrew Carnegie's Carnegie Steel Company, Federal Steel Company, and National Steel. The creation was led by financier J.P. Morgan along with industrialists Andrew Carnegie, Charles M. Schwab, and Elbert H. Gary. U.S. Steel was the world's first billion-dollar corporation, capitalized at $1.4 billion, and at its peak produced over two-thirds of the steel in the United States. The company was headquartered in Pittsburgh, Pennsylvania, and became synonymous with American industrial might throughout the 20th century. U.S. Steel expanded aggressively through mergers and acquisitions but faced challenges in the late 20th century from foreign competition and rising domestic costs. In June 2025, it was acquired by the Japanese steel company Nippon Steel, becoming a wholly owned subsidiary, while maintaining its headquarters and name. The acquisition included protections such as a golden share held by the U.S. government to oversee certain company decisions to safeguard American interests. Today, U.S. Steel remains a key player in steel production, supplying industries such as automotive, construction, and energy.
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