The very first caterpillar tractors were inverted by George Cayley in early 19th century. However this invention is often attributed Benjamin Holt who was first to implement the caterpillar tracks.
A founder of Holt Manufacturing company, he later became famous for the use of the caterpillar technology in his tractors. A muddy, soft soil near Stockton, California was a problem for the local farmers. As a solution for this local problem, he used an updated invention of George Cayley called constant rail track. As a result of the success of his product Caterpillar Tractor Company was formed in late 1920s. It is still operating and one of the companies listed in Dow Jones Index.
He was an inventor of the caterpillar track, but is more known for his aviation research.