Berkshire Hathaway vs FedEx: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Berkshire Hathaway and FedEx 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. 1971FedEx

   Federal Express Founded

   Frederick W. Smith incorporates Federal Express Corporation, planning to build an overnight air-delivery network around a central Memphis hub.

8. 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.

9. 1973FedEx

   Commercial Operations Begin

   Federal Express begins commercial service from Memphis using a hub-and-spoke overnight model, surviving early near-bankruptcy on fuel costs.

10. 1978FedEx

    FedEx Goes Public

    The company completes its initial public offering to finance network expansion.

11. 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.

12. 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.

13. 1998Berkshire Hathaway

    General Re and Executive Jet Acquired

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

14. 1998FedEx

    Caliber System Acquisition

    FedEx acquires Caliber System for about $2.4 billion, adding the assets that become FedEx Ground and FedEx Freight.

15. 2004FedEx

    Acquired Kinko's

    FedEx acquired Kinko's for $2.4 billion. FedEx bought Kinko's for about $2.4 billion and rebranded the stores as FedEx Office.

16. 2010Berkshire Hathaway

    BNSF Railway Acquired

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

17. 2016Berkshire Hathaway

    Precision Castparts Acquired

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

18. 2016FedEx

    TNT Express Acquisition

    FedEx acquires TNT Express for about $4.4 billion to expand its European and international express network.

19. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

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

20. 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.

21. 2022FedEx

    Raj Subramaniam Becomes CEO

    Raj Subramaniam succeeds founder Frederick W. Smith as CEO, becoming only the second CEO in FedEx history, and launches the DRIVE and Network 2.0 transformation programs.

22. 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.

23. 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.

24. 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.

25. 2025FedEx

    Founder Fred Smith Dies

    Frederick W. Smith dies on June 21, 2025. Longtime director R. Brad Martin becomes chairman and later executive chairman.

26. 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.

27. 2026FedEx

    FedEx Freight Spin-Off Completed

    On June 1, 2026 FedEx completes the spin-off of FedEx Freight Holding Company, which begins trading on the NYSE as FDXF.

28. 2026FedEx

    FY2026 Revenue Reaches $94.7B

    FedEx reports $94.720 billion in FY2026 revenue, $4.433 billion in net income, and capex of 4.0% of revenue, a record low ratio.

Acquisitions

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