Supreme Court Breaks Standard Oil: Antitrust Law Born
The U.S. Supreme Court ruled in Standard Oil Co. of New Jersey v. United States on May 15, 1911, that John D. Rockefeller's Standard Oil constituted an unreasonable restraint of trade under the Sherman Antitrust Act. The Court ordered the company dissolved into 34 separate entities. Ironically, the breakup made Rockefeller richer: stock in the successor companies, including what became Exxon, Mobil, Chevron, Amoco, and others, soared in value because investors could now buy focused companies rather than a sprawling conglomerate. Rockefeller's personal fortune doubled within a few years. The ruling established the "rule of reason" standard for antitrust enforcement, requiring courts to evaluate whether a monopoly's behavior was unreasonable rather than condemning all monopolies automatically.
May 15, 1911
115 years ago
Key Figures & Places
Supreme Court of the United States
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Standard Oil
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monopoly
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Sherman Antitrust Act
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Standard Oil Co. of New Jersey v. United States
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Supreme Court of the United States
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Standard Oil
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Monopoly
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Sherman Antitrust Act
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Theodore Roosevelt
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John D. Rockefeller
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