Founded in 1977 the Cato Institutes 1998 budget made up US$ 11 million. Its funding consists of corporate and private donations (especially from corporations and executives in the highly regulated industries of financial services, telecommunications and pharmaceuticals industries) and sales of publications.
Catos corporate donors include tobacco firms:
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American holding company (formerly (1967-74) First National City Corporation),
incorporated in 1967, with the City Bank of New York, National Association (a bank tracing to 1812), as its principal subsidiary. The latter's name changed successively to First National City Bank in 1968 and to Citibank, N.A. (i.e., National Association), in 1976. Citicorp was the holding company's popular and trade name from its inception but became the legal name only in 1974. Headquarters are in New York City.
Formerly (until 1972) Standard Oil Company, Exxon is one of the world's largest corporations in terms of sales, with investments and operations in petroleum and natural gas, coal, nuclear fuels, chemicals, and such ores as copper, lead, and zinc. It also operates pipelines and one of the world's largest fleets of tankers and other ships. Exxon engages in every phase of the petroleum industry from oil fields to service stations. It is headquartered in Irving, Texas, a suburb of Dallas.