By the 1990s, Nucor’s profitability beat Bethlehem’s every single year, and at the end of the century, Nucor—which had been less than a third the size of Bethlehem only a decade earlier— finally surpassed Bethlehem in total revenues.62 Even more astounding, Nucor’s average five-year profit per employee exceeded Bethlehem by almost ten times.63 And for the investor, $1 invested in Nucor beat $1 invested in Bethlehem Steel by over 200 times.
