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
James McDonald (businessman) Company of Kentucky and James McDonald went to England to aid in the organization and development of the Anglo-American Oil Company, now Esso UK, another subsidiary of the Standard Oil Company, through which its export business was conducted. McDonald was made Chairman of the Anglo American Oil Company and also became a director in various other companies throughout Europe. He was the representative of the parent organization in all of its dealings with the foreign companies and to him is due, in large measure, the remarkable organization which the Standard Oil company has built up. McDonald, although born under the