USA HISTORY

Detailed explanation-1: -Standard Oil Co. of New Jersey v. United States (1911) is a U.S. Supreme Court case holding that Standard Oil Company, a major oil conglomerate in the early 20th century, violated the Sherman Antitrust Act through anticompetitive actions, i.e. forming a monopoly, and ordered that the company be geographically split.

Detailed explanation-2: -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.

Detailed explanation-3: -In 1911 the U.S. Supreme Court ruled that Standard Oil Trust be dissolved under the Sherman Antitrust Act and split into 34 companies.

Detailed explanation-4: -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.

Detailed explanation-5: -Rockefeller built an oil monopoly by ruthlessly eliminating most of his competitors. This made him the richest man in the world. But he spent his retirement years giving away most of his money.