Berkshire Hathaway vs Nike: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Berkshire Hathaway and Nike 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. 1964Nike

   Blue Ribbon Sports Starts

   Phil Knight and Bill Bowerman formed Blue Ribbon Sports in 1964, before Nike existed as a brand. The origin mattered because the business began with running shoes, track athletes, and Bowerman's habit of testing product ideas against real training needs.

6. 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.

7. 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.

8. 1971Nike

   Nike Name and Swoosh

   Blue Ribbon Sports moved toward its own identity in 1971 as the Nike name and Carolyn Davidson's Swoosh entered the business.

9. 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.

10. 1978Nike

    Tailwind Introduces Air to Running

    The Tailwind introduced Air cushioning to running in 1978, according to Nike's own Pegasus history.

11. 1980Nike

    Nike Goes Public

    Nike went public in 1980, giving the company access to public capital as it expanded marketing, product development, and global distribution. The IPO marked the transition from founder-led growth company to a larger public sportswear business.

12. 1984Nike

    Michael Jordan Deal Changes Basketball

    Nike signed Michael Jordan in 1984, then built Air Jordan into a signature product line rather than a standard endorsement. The deal changed how athlete relationships could become long-running product franchises.

13. 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.

14. 1988Nike

    Just Do It Launches

    Nike launched Just Do It in 1988, turning a campaign line into a broad call to action across sport and everyday effort.

15. 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.

16. 1998Berkshire Hathaway

    General Re and Executive Jet Acquired

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

17. 2003Nike

    Converse Acquisition

    Nike acquired Converse in 2003, adding a lifestyle footwear brand with a different cultural meaning from the performance-led Swoosh. The 2004 10-K listed the cash purchase price, including acquisition costs, at about $310 million.

18. 2010Berkshire Hathaway

    BNSF Railway Acquired

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

19. 2016Berkshire Hathaway

    Precision Castparts Acquired

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

20. 2017Nike

    Consumer Direct Offense

    Nike announced the Consumer Direct Offense in 2017 to serve consumers faster and more personally through digital, owned retail, speed, and focused markets.

21. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

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

22. 2020Nike

    John Donahoe Becomes CEO

    John Donahoe succeeded Mark Parker as Nike chief executive in January 2020.

23. 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.

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. 2024Nike

    Elliott Hill Returns as CEO

    Nike announced in September 2024 that Elliott Hill would return as president and CEO effective October 14, 2024. Hill had spent more than three decades at the company before retiring in 2020.

27. 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.

28. 2025Nike

    FY2025 Revenue Falls to $46.3B

    In FY2025, Nike revenue fell 10% to $46.3 billion, net income fell to $3.2 billion, and gross margin declined to 42.7%. Nike Direct revenue was $18.8 billion and wholesale revenue was $25.9 billion.

29. 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.

30. 2026Nike

    FY2026 Revenue Reaches $46.398B

    Nike reports FY2026 revenue of $46.398B, net income of $3.108B, wholesale revenue of $27.5B, and NIKE Direct revenue of $17.7B.

Acquisitions

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