AbbVie vs Berkshire Hathaway: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: AbbVie and Berkshire Hathaway side by side

1. 1839Berkshire Hathaway

   Valley Falls Company Founded

   Oliver Chace founds the Valley Falls Company in Valley Falls, Rhode Island, as a cotton textile manufacturer. Chace had learned the trade working with Samuel Slater and built his first mill in 1806.

2. 1955Berkshire Hathaway

   Berkshire Fine Spinning and Hathaway Manufacturing Merge

   Berkshire Fine Spinning Associates and Hathaway Manufacturing combine and take the Berkshire Hathaway name.

3. 1962Berkshire Hathaway

   Buffett Partnership Buys Its First Berkshire Shares

   Buffett Partnership Ltd. buys its first Berkshire Hathaway shares in December 1962. Buffett was drawn to the pattern of Berkshire closing plants and using the liquidation proceeds to repurchase its own stock.

4. 1964Berkshire Hathaway

   Tender Offer Dispute With Seabury Stanton

   Berkshire president Seabury Stanton asks Buffett at what price Buffett Partnership would sell, agrees to $11.50 a share, then mails a tender offer at $11.375.

5. 1965Berkshire Hathaway

   Buffett Takes Control and Names Ken Chace President

   Buffett Partnership takes control of Berkshire Hathaway in May 1965 and Stanton leaves. Buffett selects Ken Chace, a long-time employee, as president to run the textile operation, and the cash it generates is pointed at other industries.

6. 1967Berkshire Hathaway

   Entry Into Insurance With National Indemnity

   Early in 1967 Berkshire pays $8.6 million to buy National Indemnity Company and a small sister insurer from owner Jack Ringwalt.

7. 1972Berkshire Hathaway

   See's Candies Bought for $25 Million

   Blue Chip Stamps, controlled by Buffett and Munger and later merged into Berkshire, buys See's Candies for $25 million.

8. 1985Berkshire Hathaway

   Textile Operations Closed

   Buffett decides in July 1985 to close Berkshire's textile operation and the shutdown is largely complete by year end. He described it as finally throwing in the towel after twenty years of unremitting struggle with the business.

9. 1996Berkshire Hathaway

   GEICO Becomes Wholly Owned and Class B Shares Created

   Berkshire buys the remaining 49% of GEICO on January 2, 1996, having held 51%, and GEICO becomes a wholly owned subsidiary. Shareholders also approve a recapitalization creating Class B shares with the economic rights of one thirtieth of a Class A share.

10. 1998Berkshire Hathaway

    General Re and Executive Jet Acquired

    Berkshire acquires reinsurer General Re and fractional-aircraft operator Executive Jet.

11. 2010Berkshire Hathaway

    BNSF Railway Acquired

    Berkshire completes its purchase of Burlington Northern Santa Fe in the first quarter of 2010.

12. 2013AbbVie

    AbbVie Launches as an Independent Company

    AbbVie launched after Abbott Laboratories separated its research-based pharmaceutical business and began NYSE trading under ABBV.

13. 2015AbbVie

    Pharmacyclics Acquisition Completed

    AbbVie completed its acquisition of Pharmacyclics, adding Imbruvica and expanding its hematologic oncology business.

14. 2016Berkshire Hathaway

    Precision Castparts Acquired

    Berkshire completes the purchase of Precision Castparts, an aerospace and industrial components maker, for $235 a share in cash.

15. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

    Berkshire's board expands from twelve to fourteen directors and elects Greg Abel and Ajit Jain.

16. 2019AbbVie

    Skyrizi Receives Initial U.S. Approval

    The FDA approved Skyrizi for adults with moderate to severe plaque psoriasis in April 2019.

17. 2019AbbVie

    Rinvoq Receives Initial U.S. Approval

    The FDA approved Rinvoq for adults with moderate to severe rheumatoid arthritis in August 2019.

18. 2020AbbVie

    Allergan Acquisition Completed

    AbbVie completed the Allergan acquisition, adding neuroscience, eye care, and Allergan Aesthetics products including Botox and Juvederm.

19. 2022Berkshire Hathaway

    Alleghany Corporation Acquired

    Berkshire completes the acquisition of insurer Alleghany Corporation on October 19, 2022, paying $848.02 a share in cash for a total equity value of about $11.6 billion and adding the TransRe reinsurance business.

20. 2023AbbVie

    U.S. Humira Biosimilar Competition Begins

    Humira began facing U.S. biosimilar competition, and AbbVie reported a subsequent decline in Humira revenue.

21. 2024AbbVie

    ImmunoGen Acquisition Completed

    AbbVie completed its acquisition of ImmunoGen, adding Elahere and antibody-drug conjugate programs.

22. 2024AbbVie

    Robert A. Michael Becomes CEO

    Robert A. Michael succeeded Richard A. Gonzalez as chief executive officer effective July 1, 2024.

23. 2024AbbVie

    Cerevel Therapeutics Acquisition Completed

    AbbVie completed its acquisition of Cerevel Therapeutics, adding clinical-stage neuroscience programs.

24. 2024Berkshire Hathaway

    Market Value Tops $1 Trillion

    Berkshire's market capitalization passes $1 trillion on August 28, 2024, making it the first US company outside the technology sector to reach that level.

25. 2024Berkshire Hathaway

    Pilot Travel Centers Fully Owned

    Berkshire acquires the remaining 20% of Pilot Travel Centers on January 16, 2024 and takes full ownership. It had bought 38.6% in 2017 and a further 41.4% for about $8.2 billion in January 2023.

26. 2025AbbVie

    Robert A. Michael Becomes Chairman

    Robert A. Michael added the chairman role effective July 1, 2025, when Richard A. Gonzalez retired from the board.

27. 2025AbbVie

    FY2025 Revenue Reaches $61.160 Billion

    AbbVie reported FY2025 net revenue of $61.160 billion and net income of $4.226 billion.

28. 2025Berkshire Hathaway

    Board Approves Abel as CEO From January 2026

    Berkshire announces in May 2025 that Greg Abel will become President and Chief Executive Officer on January 1, 2026, with Warren Buffett remaining Chairman of the Board.

29. 2026AbbVie

    Q1 2026 Revenue Reaches $15.002 Billion

    AbbVie reported first-quarter 2026 net revenue of $15.002 billion, up 12.4 percent on a reported basis.

30. 2026Berkshire Hathaway

    Abel Becomes CEO and Buffett Becomes Chairman Emeritus

    Abel takes over as CEO on January 1, 2026 and Berkshire completes the $9.7 billion purchase of OxyChem from Occidental on January 2. On September 18, 2026 Buffett is named Chairman Emeritus and remains a director, and his son Howard G.

Acquisitions

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