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Standard Oil was broken into its constituents parts, among them seven “majors,” many of which remain among the most valuable and powerful firms on Earth, including, notably, Standard Oil of New Jersey (Exxon), Standard Oil of New York (Mobil), and Standard Oil of California (Chevron). In the aftermath of the breakup, stock was divided proportionately, and, to the surprise of many observers, within a year, the value of what had been Standard Oil had doubled, and in several years, had increased five-fold.
The Curse of Bigness: Antitrust in the New Gilded Age
by Tim Wu
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