Who owns Standard Oil?

BP
Standard-Vacuum Oil Co., or “Stanvac”, operated in 50 countries, from East Africa to New Zealand, before it was dissolved in 1962. The original Standard Oil Company corporate entity continues in existence and was the operating entity for Sohio; it is now a subsidiary of BP.

Who created and owned Standard Oil?

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 built Standard Oil and became billionaire?

Rockefeller
Consequently, Rockefeller became the country’s first billionaire, with a fortune worth nearly 2% of the national economy. His personal wealth was estimated in 1913 at $900 million, which was almost 3% of the US GDP of $39.1 billion that year.

What companies did Standard Oil become?

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.

Who was the richest person ever?

Mansa Musa
Arguably the richest human to have ever lived, Mansa Musa ruled over the Mali empire in the 14th Century.

Who broke up the Standard Oil monopoly?

Almost 30 years later, Tarbell would redefine investigative journalism with a 19-part series in McClure’s magazine, a masterpiece of journalism and an unrelenting indictment that brought down one of history’s greatest tycoons and effectively broke up Standard Oil’s monopoly.

What is Standard Oil now?

Standard Oil of New York: Merged with Vacuum Oil, and eventually became Mobil. Standard Oil of California: Acquired Standard Oil of Kentucky, Texaco, and Unocal, and is now Chevron.

Why was Standard Oil illegal?

The Department of Justice filed a federal antitrust lawsuit against Standard in 1909, contending that the company restrained trade through its preferential deals with railroads, its control of pipelines and by engaging in unfair practices like price-cutting to drive smaller competitors out of business.

How did Standard Oil violate antitrust law?

In 1911, the Supreme Court finds the Standard Oil in violation of the 1890 Sherman Antitrust Act because of excessive restrictions to trade, and in particular its practice of buying out the small independent refiners or that of lowering the price in a given region to force bankruptcy of competitors.

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 owns Standard Oil Company?

John D. Rockefeller was a founder, chairman and major shareholder. With the dissolution of the Standard Oil trust into 33 smaller companies, Rockefeller became the richest man in the world.

Who was the founder of Standard Oil?

John D. Rockefeller founded the Standard Oil Company. was founded by John D. Rockefeller in 1863 in Ohio, United States. He was the first person who revolutionized the petroleum industry, and became one of the richest men in the world. John D. Rockefeller founded the Standard Oil Company.