After financing the creation of the Federal Steel Company, he finally merged it in 1901 with the Carnegie Steel Company and several other steel and iron businesses (including Consolidated Steel and Wire Company, owned by William Edenborn), to form the United States Steel Corporation.
Setelah mendanai pembentukan Federal Steel Company, ia bergabung dengan Carnegie Steel Company pada tahun 1901 dan sejumlah industri baja dan besi lainnya, termasuk Consolidated Steel and Wire Company yang dimiliki oleh William Edenborn, untuk membentuk United States Steel Corporation.