What were J.P. Morgan's major contributions to the business world?
J.P. Morgan's contributions to the business world are numerous. He was instrumental in the formation of major corporations through corporate mergers and acquisitions. Some of his notable achievements include the consolidation of the railroad industry and the formation of U.S. Steel, the first billion-dollar corporation. His financial prowess helped stabilize the American economy during times of crisis, such as the Panic of 1907.