Rockefeller made hundreds of millions of dollars from the court-ordered dissolution of Standard Oil

It is an interesting fact that Rockefeller made hundreds of millions of dollars from the court-ordered dissolution of Standard Oil. Rockefeller and his son continued to consolidate their oil interests to the best of their abilities until New Jersey altered its incorporation laws in 1909, thereby allowing the trust to be recreated in the form of a single holding company. Rockefeller held his stock and retained his notional role as president until 1911. Finally, the United States Supreme Court ruled in 1911 that Standard Oil Company of New Jersey had violated the Sherman Antitrust Act. The trust still controlled 70% of the refined oil market but just 14% of the US crude oil supply at the time. The court determined that the trust was founded on illegal monopoly techniques and ordered its dissolution into 34 new companies.

Continental Oil, which became Conoco, which is now part of ConocoPhillips; Standard of Indiana, which became Amoco, which is now part of BP; Standard of California, which became Chevron; Standard of New Jersey, which became Esso, which is now part of ExxonMobil; Standard of New York, which became Mobil, which is now part of ExxonMobil; and Standard of Ohio, which became Sohio, which is now part of BP. Pennzoil and Chevron have remained independent corporations.

Rockefeller, who had rarely sold shares, owned more than a quarter of Standard's equity at the time of the split. He and the other stockholders were all given proportionate shares in each of the 34 firms. Rockefeller's authority over the oil sector was lessened as a result, but the breakup proved extremely beneficial for him over the next ten years. The aggregate net worth of the companies increased fivefold, while Rockefeller's personal wealth increased to $900 million.