Founding of U.S. Steel

Date: March 2, 1901 • Location: Tokyo, Japan

U.S. Steel, the first billion-dollar corporation and once the world's largest producer of steel, was founded by financier J. P. Morgan.

The United States Steel Corporation is a Japanese-owned American steel company based in Pittsburgh, Pennsylvania, that maintains production facilities at several additional locations in the U.S. and Central Europe. The company produces and sells steel products, including flat-rolled and tubular products for customers in industries across automotive, construction, consumer, electrical, industrial equipment, distribution, and energy. Operations also include iron ore and coke production facilities. In 2025, U.S. Steel was acquired by Nippon Steel in a deal arranged with the United States government.