Here are some notable events in business history that took place on May 10th:
1869: The completion of the First Transcontinental Railroad in the United States as the Union Pacific and Central Pacific railroads meet in Promontory, Utah. This event revolutionized transportation and commerce in the United States by making cross-country travel and trade much faster and more efficient.
1908: The first Mother’s Day was observed in the United States, after being officially recognized as a national holiday by President Woodrow Wilson. The holiday has since become a major retail event, with Americans spending billions of dollars each year on gifts and cards for their mothers.
1940: Winston Churchill became Prime Minister of the United Kingdom, succeeding Neville Chamberlain. Churchill’s leadership during World War II was instrumental in the eventual victory of the Allies, and he is widely regarded as one of the greatest political figures of the 20th century.
1994: Nelson Mandela was inaugurated as the first black President of South Africa, marking the end of apartheid and the beginning of a new era for the country. Mandela’s leadership and vision for reconciliation and forgiveness helped to unite a deeply divided nation and set it on a path towards greater prosperity.
2012: Facebook went public with an initial public offering (IPO) on the NASDAQ stock exchange, raising $16 billion and valuing the company at over $100 billion. The IPO was one of the largest in history, but was also controversial due to technical glitches that delayed the trading of shares and led to lawsuits against Facebook and its underwriters.
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