Berkshire Hathaway vs BNP Paribas: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Berkshire Hathaway and BNP Paribas 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. 1848BNP Paribas

   Comptoir national d'escompte de Paris founded

   Created by decree in March 1848 to restart commercial credit after the February Revolution, with capital from private subscribers, the City of Paris and the State. It is the oldest root of the BNP side of the group.

3. 1860BNP Paribas

   First overseas branches in Shanghai and Calcutta

   The Comptoir opened branches in Shanghai and Calcutta, becoming the first French bank to build a branch network abroad from scratch, later adding Hong Kong, London, San Francisco and Sydney.

4. 1872BNP Paribas

   Banque de Paris et des Pays-Bas formed

   The Banque de Paris, founded in 1869, merged on 27 January 1872 with Louis-Raphaël Bischoffsheim's Amsterdam-based Nederlandsche Credit- en Deposito Bank to create the investment bank later known as Paribas.

5. 1889BNP Paribas

   Comptoir rescued after the copper crash

   Losses on industrialist Eugène Secrétan's attempt to corner the copper market forced the Comptoir d'escompte de Paris into liquidation, backed by a 100-million-franc Banque de France advance. It was refounded in June 1889 as a deposit bank.

6. 1955Berkshire Hathaway

   Berkshire Fine Spinning and Hathaway Manufacturing Merge

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

7. 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.

8. 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.

9. 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.

10. 1966BNP Paribas

    Banque Nationale de Paris created

    Finance minister Michel Debré merged the state-owned CNEP and Banque nationale pour le commerce et l'industrie (BNCI) to form Banque Nationale de Paris (BNP).

11. 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.

12. 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.

13. 1982BNP Paribas

    Paribas nationalised

    The Mauroy government nationalised Paribas, which adopted its telegraph address, Paribas, as its brand that year.

14. 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.

15. 1987BNP Paribas

    Paribas privatised

    The Chirac government returned Paribas to private ownership in January 1987.

16. 1993BNP Paribas

    BNP privatised

    BNP was privatised in October 1993 under chairman Michel Pébereau.

17. 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.

18. 1998Berkshire Hathaway

    General Re and Executive Jet Acquired

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

19. 1999BNP Paribas

    Three-way takeover battle

    Société Générale bid for Paribas, and BNP answered with offers for both banks. BNP won control of Paribas but failed to take Société Générale.

20. 2000BNP Paribas

    BNP Paribas created

    The merger of BNP and Paribas was completed in May 2000, combining BNP's retail network with Paribas's investment banking.

21. 2001BNP Paribas

    Full ownership of BancWest

    BNP Paribas agreed to buy the 55% of BancWest, parent of Bank of the West and First Hawaiian Bank, that it did not already own for about $2.45 billion. The Federal Reserve approved the deal on 4 December 2001.

22. 2006BNP Paribas

    BNL acquired in Italy

    BNP Paribas bought Banca Nazionale del Lavoro, making Italy its second domestic retail market.

23. 2009BNP Paribas

    Fortis Bank acquired in Belgium

    In May 2009 BNP Paribas took control of Fortis Bank, now BNP Paribas Fortis, paying with new shares issued to the Belgian state and the Grand Duchy of Luxembourg. It also bought 25% of AG Insurance for ~$1.55 billion (€1.375 billion).

24. 2010Berkshire Hathaway

    BNSF Railway Acquired

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

25. 2014BNP Paribas

    US sanctions guilty plea

    BNP Paribas pleaded guilty in New York and agreed to pay about $8.9 billion for processing dollar transactions for Sudan, Iran and Cuba in breach of US sanctions.

26. 2016Berkshire Hathaway

    Precision Castparts Acquired

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

27. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

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

28. 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.

29. 2023BNP Paribas

    Bank of the West sold to BMO

    BNP Paribas completed the $16.3 billion cash sale of Bank of the West to BMO Financial Group on 1 February 2023, leaving US retail banking.

30. 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.

31. 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.

32. 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.

33. 2025BNP Paribas

    AXA Investment Managers acquired

    BNP Paribas Cardif completed the ~$5.76 billion (€5.1 billion) purchase of AXA IM on 1 July 2025 and signed a long-term partnership to manage a large part of AXA's assets.

34. 2025BNP Paribas

    Sudan jury verdict

    A Manhattan federal jury found BNP Paribas liable to three Sudanese refugees in October 2025 and awarded $20.75 million. The bank is appealing.

35. 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.

36. 2026BNP Paribas

    Ageas partnership reset

    On 28 April 2026 BNP Paribas Fortis sold its 25% of AG Insurance to Ageas for ~$2.15 billion (€1.9 billion) and renewed their Belgian bancassurance partnership, while Cardif raised its Ageas stake to 22.5%.

37. 2026BNP Paribas

    Arval completes Athlon purchase

    Arval completed its purchase of Athlon from Mercedes-Benz Group on 31 July 2026, reaching a combined fleet of 2.3 million vehicles.

Acquisitions

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