What happened to shareholders of Standard Oil?

Its history as one of the world’s first and largest multinational corporations ended in 1911, when the U.S. Supreme Court ruled that Standard Oil was an illegal monopoly. He remained the major shareholder, and in 1911, with the dissolution of the Standard Oil trust into 34 smaller companies.

Who controlled 90\% of the refining business with the ownership of Standard Oil Company?

Rockefeller
In the end, Rockefeller made a deal with the other company, which gave Standard Oil ownership of nearly all the oil pipelines in the nation. By 1880, Standard Oil owned or controlled 90 percent of the U.S. oil refining business, making it the first great industrial monopoly in the world.

What happens when Standard Oil 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 happened to the Standard Oil Company in 1911?

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.

What was Standard Oil split into?

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 broke up Standard Oil?

Standard Oil broke up in 1911 as a result of a lawsuit brought against it by the U.S. government in 1906 under the Sherman Antitrust Act of 1890.

How much money does John D Rockefeller end up amassing after Standard Oil is broken up?

In the aftermath, Rockefeller’s control over the oil industry was somewhat reduced but over the next 10 years, the breakup also proved immensely profitable for him. The companies’ combined net worth rose fivefold and Rockefeller’s personal wealth jumped to $900 million.

When did Standard Oil Split?

1911
When did Standard Oil break up? Standard Oil broke up in 1911 as a result of a lawsuit brought against it by the U.S. government in 1906 under the Sherman Antitrust Act of 1890.

What companies did Standard Oil split into?

What happened to the Standard Oil Company?

See all Historic Headlines » 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.

What happened to Standard Oil in 1911?

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.

Who was the partner of Standard Oil Company?

Rockefeller bought out Clark in 1865, and Henry M. Flagler became a partner in the venture in 1867. The firm of Rockefeller, Andrews, and Flagler was operating the largest refineries in Cleveland when Standard Oil Company was incorporated. When was Standard Oil first organized as a trust?

When was Standard Oil first organized as a Trust Company?

When was Standard Oil first organized as a trust? The Standard Oil Company and affiliated companies that were engaged in the production, refining, and marketing of oil were combined in the Standard Oil Trust in 1882.