Standard Oil an "unreasonable" monopoly under the Sherman Antitrust Act, Section II. It ordered Standard to break up into 34 independent companies with different boards of directors, the biggest two of the companies were Standard Oil of New Jersey (which became Exxon) and Standard Oil of New York (which became Mobil). Standard's president, John D. Rockefeller, had long since retired from any management role. But, as he owned a quarter of the shares of the resultant companies, and those share values mostly doubled, he emerged from the dissolution as the richest man in the world. The dissolution had actually propelled Rockefeller's personal
Standard Oil of Kentucky Standard Oil of Kentucky The Standard Oil Company of Kentucky was incorporated on October 8, 1886 under Kentucky laws. It was founded as a division of the Standard Oil Trust to handle the assets of the Chess, Carley & Company, which Standard had acquired to handle product marketing and distribution for the southeastern U.S. It maintained corporate offices in all of the states it serviced, and also owned an oil refinery in Louisville, Kentucky, with a 500,000 barrel/year capacity. In 1892, it acquired the properties of Consolidated Tank Line Company. When the monopoly was broken up as an illegal trust