Berkshire Hathaway vs SpaceX: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Berkshire Hathaway and SpaceX 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. 2002SpaceX

    SpaceX is founded

    Elon Musk founded Space Exploration Technologies Corp. to reduce launch costs and make Mars settlement technically possible.

12. 2008SpaceX

    Falcon 1 reaches orbit

    Falcon 1 became the first privately developed liquid-fuel rocket to reach orbit, rescuing SpaceX after three failed attempts.

13. 2010Berkshire Hathaway

    BNSF Railway Acquired

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

14. 2012SpaceX

    Dragon reaches the ISS

    Dragon became the first private spacecraft to dock with the International Space Station, proving SpaceX could serve NASA cargo missions.

15. 2015SpaceX

    Falcon 9 booster landing

    SpaceX landed an orbital-class booster, establishing the technical base for reusable launch economics.

16. 2016Berkshire Hathaway

    Precision Castparts Acquired

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

17. 2017SpaceX

    Orbital booster reflight

    SpaceX reflown an orbital-class booster, pushing reuse from demonstration into operating model.

18. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

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

19. 2020SpaceX

    Crew Dragon carries astronauts

    SpaceX became the first private company to carry astronauts to orbit, restoring U.S. crew launch capability.

20. 2021SpaceX

    Acquired Swarm Technologies

    SpaceX acquired Swarm Technologies.

21. 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.

22. 2023SpaceX

    Starship flight testing begins

    SpaceX conducted the first integrated Starship flight test, starting the high-risk development cycle for its next launch system.

23. 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.

24. 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.

25. 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.

26. 2025SpaceX

    FY2025 revenue reaches $18.674B

    SpaceX reported $18.674B in FY2025 revenue and a $4.937B net loss in its 2026 prospectus.

27. 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.

28. 2026SpaceX

    Prospectus lists SPCX and Starlink scale

    The 2026 prospectus described a Nasdaq listing under SPCX and about 10.3M Starlink subscribers as of March 31, 2026.

Acquisitions

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