Are Walgreens and CVS Owned by the Same Couple?

Many people assume big names like Walgreens and CVS are run by a single family - maybe even a husband and wife team. It’s a neat story: two people building a pharmacy empire together. But that’s not how it works. Walgreens and CVS are two completely separate companies, owned by different corporate boards, with different CEOs, different shareholders, and no family ties between them.

Who Owns Walgreens?

Walgreens Boots Alliance (WBA) is the official parent company of Walgreens. It was formed in 2014 when Walgreens merged with the European drugstore chain Boots. The company is publicly traded on the NASDAQ under the ticker WBA. That means thousands of investors own shares - from pension funds to individual stockholders. No single person, couple, or family controls it.

The current CEO is Greg Wasson, who took over in 2023. Before him, Rosalind Brewer led the company. Neither has any known personal connection to the owners of CVS. The company’s headquarters are in Deerfield, Illinois, and it operates over 9,000 stores across the U.S. and internationally.

Who Owns CVS Health?

CVS Health is a separate public company, listed on the NYSE under the ticker CVS. It was founded in 1963 as Consumer Value Stores and later rebranded to CVS. In 2007, it bought Caremark, turning itself into a pharmacy benefits manager (PBM) and health services giant. Today, CVS owns over 10,000 pharmacies, clinics, and health hubs across the U.S.

Its CEO is Karen Lynch, who became CEO in 2021. She’s one of the few women leading a Fortune 500 healthcare company. CVS Health also owns Aetna, one of the largest health insurers in America. Again - no family ownership. No husband-wife team. Just a large corporation with over 300,000 employees and shareholders spread across the globe.

Why Do People Think They’re Owned by One Couple?

The confusion comes from a few places. First, both companies look similar: same bright logos, same drive-thru pharmacies, same flu shot lines. They’re both everywhere. If you live in a small town, you might have one on each corner - and it’s easy to think they’re the same brand.

Second, both companies have had high-profile CEOs over the years, and sometimes those leaders get featured in the same business magazines. That can make it seem like they’re part of the same story.

Third, there’s a cultural myth that big businesses are run by powerful families - like the Waltons (Walmart) or the Kochs. People project that onto Walgreens and CVS because they’re so visible. But in reality, these are institutional investors who own them: BlackRock, Vanguard, State Street - not a married couple sitting at a kitchen table making decisions.

What About Founders? Were They a Couple?

Let’s go back to the beginning.

Walgreens was founded in 1901 by Charles R. Walgreen Sr. in Chicago. He was a single man who built his first drugstore with a loan from his mother. His son, Charles R. Walgreen Jr., later took over and expanded the chain. The Walgreen family owned the company for decades - until it went public in 1954. The family sold their last shares in the 1980s.

CVS was founded in 1963 by two brothers, Sidney and Sidney Goldstein, in Lowell, Massachusetts. They opened a store called Consumer Value Stores, selling health and beauty products at low prices. No wives. No husbands. Just two brothers with a business idea.

Neither company was ever founded - or owned - by a husband and wife team.

Do They Compete? Or Work Together?

Walgreens and CVS are direct competitors. They fight for the same customers: people buying prescriptions, cough medicine, bandages, or even toothpaste. They often open stores within blocks of each other. In fact, the FTC has blocked mergers between them in the past because they’re too similar - combining them would reduce competition.

They also both work with the same suppliers: Pfizer, Johnson & Johnson, Novo Nordisk. They all buy drugs from the same wholesalers. But they don’t share ownership, management, or profits.

Even their loyalty programs are different: Walgreens has Balance Rewards. CVS has ExtraCare. They don’t互通 (interconnect). You can’t use your CVS points at Walgreens.

What About Private Ownership? Could Someone Own Both?

Technically, yes - a billionaire could buy shares in both companies. But owning 5% of Walgreens and 3% of CVS doesn’t mean they control either. U.S. law limits how much control any single investor can have over a public company. Even Warren Buffett, who owns billions in stocks, doesn’t run any company he invests in.

And no known billionaire or couple owns significant stakes in both. The largest shareholders in each company are institutional funds, not individuals.

Why Does This Myth Keep Coming Back?

It’s comforting to believe that big systems are run by relatable people. We like stories of families building empires. It makes the world feel smaller, more human.

But modern healthcare is complex. It’s run by boards, algorithms, insurance contracts, and regulatory agencies. The person filling your prescription at CVS isn’t answering to a husband-and-wife duo. They’re following corporate protocols, pharmacy regulations, and federal drug laws.

When you walk into either store, you’re not visiting a family business. You’re interacting with one of the largest healthcare delivery systems in the country - operated by corporations, not couples.

What Should You Actually Care About?

Instead of wondering who owns them, ask: Which pharmacy gives me better prices? Do they accept my insurance? Is their online refill system easy to use? Do they offer free delivery or same-day pickup?

These questions matter more than ownership. Walgreens and CVS both offer similar services: prescription delivery, immunizations, health screenings, and telehealth visits. But their pricing, app features, and loyalty rewards vary.

For example, CVS often has lower prices on generic medications through its ExtraCare program. Walgreens sometimes has better hours in rural areas. Neither is better overall - it depends on your location, needs, and insurance.

Check your local prices. Compare the apps. Call ahead. That’s how you get the best care - not by guessing who’s behind the counter.