ExxonMobil is one of the leading oil and gas companies in the world. The company was formed back in 1999 after two major oil and gas companies, Exxon and Mobil, merged into one of the biggest companies in the world. According to revenue, ExxonMobil comes in third on the list of the world’s largest companies. Here are a few things you might not know about the massive company.
It’s a Rockefeller Descendant
The Rockefeller family has an important name, and ExxonMobil is a part of it. The company was formed by the merger of Exxon and Mobil, which were both formerly named something different. Exxon was Standard Oil of New Jersey and Mobil was Standard Oil of New York. Standard Oil is the name of the company formed by John D. Rockefeller so many years ago.
It’s Quite Valuable
ExxonMobil’s current market cap is $424.25 billion. This makes it the second largest publicly traded company in the world. To help put that into perspective, ExxonMobil was listed as the number 5 company in 2013 on the Forbes Global 2000 list.
It’s Heavily Critcized
Like any big name, ExxonMobil sees its fair share of criticism. Critics are not happy with the company’s business practices. It’s been under fire for the slow response time in cleaning oil spills, in drilling in land owned by dictators and even for its foreign business practices and support of organizations that don’t believe in global warming.
ExxonMobil’s Direct History
As previously mentioned, ExxonMobil is a company that was formed from two Rockefeller companies. Those two companies were formed in the early 1900s after the government stepped in to investigate the company after the publication of “The History of the Standard Oil Co,”. The government ordered that Rockefeller break down his company into 34 smaller companies, which included the Exxon and Mobil under their previous names.
The Merger
The merger of Exxon and Mobil was made official in 1998, when the companies announced that they would merge. The companies both signed the contract, which was worth $73.7 billion at the time. The merger created ExxonMobil, the largest company in the world at that time.
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