ExxonMobil is a worldwide oil and gas company with its headquarters in Irving, Texas. On November 30, 1999, Exxon and Mobil merged to establish it, making it the largest direct descendent of John D. Rockefeller’s Standard Oil (formerly the Standard Oil Company of New York).
The largest oil corporation in the Western Hemisphere, the largest oil company in terms of output and market value, and the largest investor-owned oil company in the world are all ExxonMobil.
Who Owns ExxonMobil?
ExxonMobil is currently majority owned by the Vanguard Group. The Vanguard Group owns about 8.4% of ExxonMobil, which translates to 355,607,673 shares of ExxonMobil.
BlackRock and State Street Corporation are other large owners of ExxonMobil. Both the investors own 6.2% and 6% of ExxonMobil, respectively.
The Vanguard Group, BlackRock, and State Street Corporation are the only owners with more than a 5% shareholding in ExxonMobil.
Who founded ExxonMobil?
ExxonMobil is one of the direct successors of the original Standard Oil Company, founded by John D. Rockefeller. The company’s story traces back to the Vaccum Oil Company of the 1860s.
In 1931, Vaccum Oil Company merged with Standard Oil Company of New York to form Socony-Vaccum Oil Company, also known as Mobil Corporation.
Mobil Corporation itself went on to merge with Exxon in 1999 to form ExxonMobil. A point to note is that Exxon was also a successor of the original Standard Oil Company. Exxon’s former name was Standard Oil Company of New Jersey.