Final answer:
J. Pierpont Morgan saved his business by diversifying into other industries and acquiring Andrew Carnegie's steel holdings to create the U.S. Steel Corporation.
Step-by-step explanation:
J. Pierpont Morgan, a prominent American industrialist and investor, played a significant role in saving his business amidst the rising threat of electricity. When Morgan's business was in trouble, he diversified into other industries to ensure its survival and success. One of his most notable investments was in the steel industry, where he acquired Andrew Carnegie's holdings and merged them with several smaller steel firms to create the U.S. Steel Corporation, the country's first billion-dollar firm.