Berkshire Hathaway vs Target: Founders, CEOs and History
Berkshire Hathaway was founded in 1839 by Oliver Chace, Warren Edward Buffett and is led by Greg Abel. Target was founded in 1902 by George Dayton and is led by Michael Fiddelke.
Company facts
Berkshire Hathaway
- Founded
- 1839
- Headquarters
- Omaha, Nebraska
- Current CEO
- Greg Abel
- Employees
- 387,800
Target
- Founded
- 1902
- Headquarters
- Minneapolis, Minnesota
- Current CEO
- Michael Fiddelke
- Employees
- 415,000
Founders
Berkshire Hathaway
Oliver Chace
Berkshire Hathaway is famous not for the men who originally founded it, but for the man who conquered and reinvented it. The original company, the Valley Falls Company, was a textile manufacturer established by Oliver Chace in Rhode Island in 1839.
Warren Edward Buffett
Warren Buffett effectively refounded Berkshire Hathaway beginning in 1965 when his investment partnership gained control of the struggling New England textile company and he became its chairman and CEO.
Target
George Dayton
George Draper Dayton became a partner in Goodfellow's Dry Goods Company, one of the largest department stores in Minneapolis, in 1902, and became sole owner and president within a year, renaming it the Dayton Dry Goods Company.
CEOs and their tenures
Berkshire Hathaway
- Seabury Stanton1955–1965
President
Stanton ran Hathaway Manufacturing from the 1930s and led the 1955 merger with Berkshire Fine Spinning Associates that created Berkshire Hathaway Inc. He closed plants and used liquidation proceeds to buy back stock as New England textiles declined.
Source - Warren Buffett1965–2025
Chairman and Chief Executive Officer
Buffett took control of Berkshire Hathaway in 1965 and turned a shrinking textile maker into a holding company built on insurance float.
Source - Greg Abel2026–present
President and Chief Executive Officer
Abel became President and CEO on January 1, 2026 after the board approved the succession in May 2025.
Source
Target
- Robert J. Ulrich1994–2008
Chairman and CEO
Under Ulrich Target grew into the second-largest US discount retailer, built its design-partnership model with designers such as Michael Graves, and added the Super Target format. He retired as chief executive in 2008 and was succeeded by Gregg Steinhafel.
Source - Gregg Steinhafel2008–2014
Chairman, President and CEO
Steinhafel resigned in May 2014 after the data breach and the poor results of Target Canada, which the company closed in 2015 after losses. Brian Cornell succeeded him later in 2014.
Source - Brian Cornell2014–2026
Former Chairman and CEO
Cornell's tenure ended amid a stock and sales slump, with revenue declining for three consecutive fiscal years (from $107.412 billion in FY2023 to $104.780 billion in FY2025) even as the omnichannel infrastructure he built began paying off in the following qua…
Source - Michael Fiddelke2026–present
Chief Executive Officer
Fiddelke inherited a company coming off three straight years of revenue decline. His first two quarters as CEO delivered growth: Q1 FY2026 net sales rose 6.7% and Q2 FY2026 net sales rose 5.3% to $26.5 billion, with comparable traffic up 3.6%.
Source
Timeline: Berkshire Hathaway and Target side by side
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.
1902Target
Dayton Company is founded
George Dayton becomes a partner in Goodfellow's Dry Goods Company in Minneapolis in 1902, then sole owner in 1903, renaming it Dayton Dry Goods Company -- the business that eventually becomes Target Corporation.
1955Berkshire Hathaway
Berkshire Fine Spinning and Hathaway Manufacturing Merge
Berkshire Fine Spinning Associates and Hathaway Manufacturing combine and take the Berkshire Hathaway name.
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.
1962Target
First Target store opens
The first Target discount store opens in Roseville, Minnesota.
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.
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.
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.
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.
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.
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.
1998Berkshire Hathaway
General Re and Executive Jet Acquired
Berkshire acquires reinsurer General Re and fractional-aircraft operator Executive Jet.
2000Target
Company becomes Target Corporation
Dayton Hudson changes its name to Target Corporation as the discount chain becomes the center of the company.
2010Berkshire Hathaway
BNSF Railway Acquired
Berkshire completes its purchase of Burlington Northern Santa Fe in the first quarter of 2010.
2013Target
Target Data Breach
Target discloses a data breach affecting more than 40 million customer payment cards during the holiday shopping season, becoming one of the most-cited cybersecurity failures in US retail history.
2014Target
Dermstore Acquired
Target acquires online beauty retailer Dermstore to expand its e-commerce beauty business; it sells the unit to THG for $350 million in 2021.
2015Target
Target Exits Canada
Target announced in January 2015 that it would close all of its Canadian stores, ending an expansion that began in 2013.
2016Berkshire Hathaway
Precision Castparts Acquired
Berkshire completes the purchase of Precision Castparts, an aerospace and industrial components maker, for $235 a share in cash.
2017Target
Target acquires Shipt and Grand Junction
Target acquires same-day delivery platform Shipt for about $550 million and transportation-technology startup Grand Junction, accelerating omnichannel fulfillment.
2018Berkshire Hathaway
Abel and Jain Named Vice Chairmen
Berkshire's board expands from twelve to fourteen directors and elects Greg Abel and Ajit Jain.
2020Target
Stores become fulfillment hubs
Target's store-based fulfillment model becomes central to digital growth during the pandemic period.
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.
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.
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.
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.
2025Target
Michael Fiddelke named next CEO
Target announces that Michael Fiddelke will succeed Brian Cornell as CEO effective February 1, 2026, after 22 years rising through the company including as CFO and COO.
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.
2026Target
FY2025 revenue is reported
Target reports FY2025 revenue of $104.780B and net income of $3.705B, the third consecutive year of revenue decline.
2026Target
Q1 FY2026 sales rebound
Target reports Q1 FY2026 net sales growth of 6.7% and comparable sales growth of 5.6% under new CEO Michael Fiddelke.
2026Target
Q2 FY2026 growth and raised outlook
Target reports Q2 FY2026 net sales of $26.5B (+5.3%), comparable sales growth of 3.8% and raises full-year guidance to about 5% sales growth.
Acquisitions
Berkshire Hathaway
- OxyChem (Occidental Chemical Corporation)2026$9.7B
- Alleghany Corporation2022$11.6B
- Precision Castparts Corp.2016$37.2B
- Burlington Northern Santa Fe Corporation (BNSF)2010$44B
- McLane Company2003$1.5B
- General Re Corporation1998$22B
Questions about Berkshire Hathaway vs Target
Who is the CEO of Berkshire Hathaway Inc. and Target Corporation?
Berkshire Hathaway Inc. is led by Greg Abel and Target Corporation is led by Michael Fiddelke. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Berkshire Hathaway Inc. founded vs Target Corporation?
Berkshire Hathaway Inc. was founded in 1839 — 63 years before Target Corporation, which was founded in 1902. Berkshire Hathaway Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Target Corporation.
How many employees does Berkshire Hathaway Inc. have compared to Target Corporation?
Berkshire Hathaway Inc. employs approximately 387,800 people, while Target Corporation employs approximately 415,000. Target Corporation has the larger workforce at 415,000 employees, compared to Berkshire Hathaway Inc.'s 387,800. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Berkshire Hathaway Inc. and Target Corporation headquartered?
Both Berkshire Hathaway Inc. and Target Corporation are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Berkshire Hathaway Inc. and Target Corporation?
Berkshire Hathaway Inc. was founded by Oliver Chace, Warren Edward Buffett. Target Corporation was founded by George Dayton.
Which company has a longer operating history — Berkshire Hathaway Inc. or Target Corporation?
Berkshire Hathaway Inc. has been operating for approximately 187 years, making it the more established of the two companies. Target Corporation has been in operation for around 124 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Berkshire Hathaway vs Target overview