Apple is one of the world’s most valuable companies today, but it is far from the first American business to dominate the economy. At their peaks, these corporations were so powerful that they shaped entire industries—and sometimes even influenced government policy.
1. Standard Oil
Founded by John D. Rockefeller in 1870, Standard Oil eventually controlled about 90% of U.S. oil refining.
Its dominance became so great that the U.S. Supreme Court ordered the company broken up in 1911 under federal antitrust laws. Many of today’s major oil companies, including ExxonMobil and Chevron, trace their roots back to Standard Oil.
2. U.S. Steel
When it was formed in 1901, U.S. Steel became the world’s first company valued at more than $1 billion.
At its peak, it produced most of the steel used to build America’s bridges, railroads, factories, and skyscrapers, making it one of the country’s most influential corporations.
3. General Motors
For much of the 20th century, General Motors was America’s largest automaker and one of its biggest employers.
Its brands—including Chevrolet, Cadillac, Buick, and GMC—dominated roads across the country, while the company’s success helped define postwar American manufacturing.
4. AT&T
Before its breakup in 1984, AT&T controlled nearly all long-distance telephone service in the United States through the Bell System.
Its influence was so extensive that it became one of the largest regulated monopolies in American history.
5. Sears
At its height during the 1970s, Sears was America’s largest retailer.
Its mail-order catalog reached millions of homes, and its department stores sold everything from clothing and appliances to entire houses through Sears Modern Homes kits.
6. IBM
During the second half of the 20th century, IBM dominated the computer industry.
Its mainframe systems powered governments, banks, universities, and major corporations around the world, earning the company the nickname “Big Blue.”
