Which company was known as the first billion-dollar company?

The correct answer is U.S. Steel because it was the first company in American history to reach a market capitalization of over a billion dollars, achieving this milestone in 1901. Founded by J.P. Morgan and others through the merger of several steel companies, U.S. Steel played a crucial role in the industrial expansion of the United States during the late 19th and early 20th centuries. This achievement symbolized the rapid growth and consolidation occurring within American industry during this period.

While Standard Oil Trust was indeed a powerful and influential company, it was not officially designated as the first billion-dollar corporation; instead, it was often noted for its control over the oil industry and its monopolistic practices. General Electric and Ford Motor Company were significant in their respective fields but did not achieve a billion-dollar market capitalization until later. Thus, U.S. Steel stands as the first in this landmark achievement in corporate history.