What were the 34 companies that Standard Oil was broken into?
What were the 34 companies that Standard Oil was broken into?
Standard Oil
| Type | Cleveland, Ohio Corporation (1870) Business trust (1882–1892) New Jersey Holding Company (1899–1911) |
|---|---|
| Defunct | After its dissolution in 1911, the original Standard Oil Co. split into Sohio (now part of BP); ESSO (now Exxon); and SOcal (now Chevron) |
| Successor | 34 successor entities |
What companies were created from Standard Oil?
In 1911, following the Supreme Court ruling, Standard Oil was broken into seven successor companies; Standard Oil of New Jersey, Standard Oil of New York, Standard Oil of California, Standard Oil of Indiana, Standard Oil of Kentucky, The Standard Oil Company (Ohio), and The Ohio Oil Company.
Who owned Standard Oil Company?
John D. Rockefeller
John D. Rockefeller (1839-1937), founder of the Standard Oil Company, became one of the world’s wealthiest men and a major philanthropist.
Who shut down the Standard Oil Company?
On May 15, 1911, the Supreme Court ordered the dissolution of Standard Oil Company, ruling it was in violation of the Sherman Antitrust Act. The Ohio businessman John D. Rockefeller entered the oil industry in the 1860s and in 1870, and founded Standard Oil with some other business partners. Mr.
What president broke up Standard Oil?
President Theodore Roosevelt
While publicly attacking Standard Oil and other trusts, President Theodore Roosevelt did not favor breaking them up. He preferred only to stop their anti-competitive abuses. On November 18, 1906, the U.S. attorney general under Roosevelt sued Standard Oil of New Jersey and its affiliated companies making up the trust.
How big was Standard Oil when it was broken up?
By the time the Standard Oil was broken up in 1911, its market share had eroded to 64%, and there were at least 147 refining companies competing with it in the United States. Meanwhile, John D. Rockefeller had left the company, yet the value of his stock doubled as a result of the split.
What family owns Standard Oil?
Rockefeller, who founded Standard Oil in 1870, are exiting the family business. The Rockefeller Family Fund, a charity that supports causes related to the environment, economic justice and other issues, is liquidating its investments in fossil fuel companies, including Exxon Mobil (XOM).
How much is Standard Oil worth today?
If Standard Oil existed today in its single trust format, it would have been worth over $1 trillion making it the richest company in the world alongside Apple. And, John D. Rockefeller, if he were around today, would have had a net worth of around $400 billion, making him the richest man in the world.
Is the Rockefeller family still wealthy?
The Rockefellers: now What is left of the Rockefeller family fortune is stashed away in charitable trusts or divided among hundreds of descendants. The clan’s collective net worth was an estimated $8.4 billion (£6.1bn) in 2020, according to Forbes, but this figure may be on the conservative side.
Are the Rockefellers still in oil?
The Rockefeller Family Fund, a charity that supports causes related to the environment, economic justice and other issues, is liquidating its investments in fossil fuel companies, including Exxon Mobil (XOM). …
Who acquired Standard Oil?
The Standard Oil Company of Kentucky or Kyso was an oil company and gasoline distributor that operated in the southeastern United States from 1886 until it was acquired by Chevron Oil Company in 1961.
Was Standard Oil a true monopoly?
In 1911 , the court declared Standard Oil a monopoly and ordered its breakup. Revealingly, as scholars have noted, the court made no mention of either predatory pricing or withholding production, as monopoly theory maintains.
Who owned the Standard Oil Company?
Three supermajor companies now own the rights to the Standard name in the United States: ExxonMobil, Chevron Corp., and BP. BP acquired its rights through acquiring Standard Oil of Ohio and Amoco , and has a small handful of stations in the Midwestern United States using the Standard name.
Who wrote the history of the Standard Oil Company?
THE HISTORY OF. THE STANDARD OIL COMPANY. Written by journalist Ida Tarbell in 1904, The History of the Standard Oil Company was an exposé of the Standard Oil Company, run at that time by oil tycoon John D. Rockefeller, the richest figure in America’s history.