Simplify the following text for a Grade 12 native English-speaking person.
Original: When Burnham Exploration Company struck it rich in 1923 , the Burnhams moved to a mansion in a new housing development then known as Hollywoodland ( a name later shortened to `` Hollywood '' ) and took many trips around the world in high style .
Simplified: When Burnham Exploration Company struck found oil in 1923 , the Burnhams moved to a mansion in a new housing development then known as Hollywoodland ( a name later shortened to `` Hollywood '' ) and took many trips around the world .