Created by legendary banker J. Pierpont Morgan, United States Steel Corporation (U.S. Steel) was capitalized at $1.4 billion. This amount is equivalent to about $80 billion today (2017). It was the world's first billion-dollar company, and its capitalization was equal to almost 7 percent of the country's GNP in 1901. At one time, U.S. Steel was actually the largest steel producer and largest corporation in the world.

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Concerning U.S. Steel, it is clear that a very crucial moment for the company came in 1986 when the holding company USX Corporation was established to oversee U.S. Steel's diversified interest. At that time, the gigantic steel company was divided into four operating units: USS (for steel), Marathon Oil, Texas Oil & Gas, and the U.S. Diversified Group (covering the chemical, engineering, and real-estate businesses, among others).

U.S. Steel Group was spun off from USX in 2002 and again became an independent, publicly traded corporation under its original name, United States Steel Corporation. It acquired the steel-related businesses of National Steel Corporation in 2003.

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