Who Owns Walgreens and CVS? Pharmacy Giants and the Husband-Wife Myth Explained
Jul, 15 2025
Rumors have a funny way of spreading—especially when it comes to massive companies like Walgreens and CVS. Maybe you’ve heard it from your neighbor. Maybe it’s popped up in your TikTok feed or a dinner table debate. Are these two pharmacy giants run by a married couple? Believe it or not, this story’s caught traction over the years, turning into a wild internet rumor that’s left folks scratching their heads. You see it mentioned so often it almost sounds convincing, but the truth is way less romantic and much more corporate than you’d guess.
How Did the Husband and Wife Walgreens-CVS Rumor Start?
The whole bit about Walgreens and CVS being owned by a married couple seems to have no real beginning—just lots of whispers and memes. Sometimes, these stories pop up as a joke about dueling spouses each running their own retail empire, or as a conspiracy theory about corporate control. Every time pharmacy drama hits the news, the myth crawls back up from the internet’s depths. But if you dig in, there isn’t one traceable source or any documented link between real-life spouses at the top of both companies.
Why do people believe this? It’s partly because the two chains are everywhere, often right across the street from each other like they’re feuding over who gets more customers. But no, the chains aren’t married in the way people imagine. Instead, both are huge, publicly traded corporations run by teams of executives, boards of directors, and thousands of stockholders you’ve probably never heard of.
Just think about it: Would a husband and wife really compete against each other by building the two largest drugstores in the country? It’d be a family dinner nightmare—one arguing for a yogurt sale, the other for a flu shot special. The reality isn’t juicy like that, but how the companies actually work is even more interesting if you love business drama.
The Real Story: Who Actually Owns Walgreens?
Walgreens didn’t start as a mega-corporation owned by shadowy billionaires. The company began in 1901 when Charles R. Walgreen opened a single pharmacy in Chicago. Since then, it’s grown into a global brand, now part of Walgreens Boots Alliance, Inc. That’s right, it merged with UK-based Alliance Boots in 2014, creating a giant in retail pharmacy.
So who owns Walgreens today? The short answer: its shareholders. Walgreens Boots Alliance is listed on the NASDAQ under the ticker “WBA.” It’s not family-owned or run by a single founder anymore. Lloyds Banking Group, The Vanguard Group, and BlackRock are some of the biggest institutional holders—think giant investment firms, not quirky couples.
Recent leadership has included people like Stefano Pessina, an Italian billionaire and businessman who orchestrated the Alliance Boots merger. Pessina even became CEO and held a large stake, but that alone hardly makes Walgreens a family-owned operation.
Here’s a look at Walgreens Boots Alliance’s key fact sheet:
| Year Founded | 1901 |
|---|---|
| Current CEO | Tim Wentworth (as of July 2025) |
| Number of Stores | ~8,700 (U.S. only) |
| Main Shareholders | Vanguard, BlackRock, Individual Investors |
| Headquarters | Deerfield, Illinois, USA |
Walgreens is famous for its focus on retail pharmacy, health and wellness services, and even photo processing. Its growth was fueled less by family hierarchies and more by smart expansion, partnerships, and later the big international merger. So, anytime someone says Walgreens is family-run, you can confidently set them straight.
Peeking Behind the Curtain: Who Owns CVS?
CVS started around the same time as Walgreens gained its first real momentum, but its roots are a little different. CVS (originally “Consumer Value Stores”) was founded in 1963 in Lowell, Massachusetts, by Stanley and Sidney Goldstein and Ralph Hoagland. But don’t jump to conclusions—the Goldsteins were brothers, and Hoagland was their business partner. No married couple at the helm.
Today, CVS Health—its formal name—has expanded way beyond the corner drugstore image. CVS bought the insurance company Aetna in 2018, making it a healthcare powerhouse. If you’ve ever visited their MinuteClinic or gotten a vaccine there, you’ve seen how their reach goes much further than just candy bars and cough syrup.
So, CVS is also publicly traded, listed on the New York Stock Exchange under “CVS.” Its main shareholders? The story here’s almost identical to Walgreens: The Vanguard Group, BlackRock, State Street Corporation, and loads of mutual fund owners.
Let’s size up CVS Health’s crucial facts:
| Year Founded | 1963 |
|---|---|
| Current CEO | Karen S. Lynch (as of July 2025) |
| Number of Stores | ~9,000 (U.S. only) |
| Main Shareholders | Vanguard, BlackRock, State Street |
| Headquarters | Woonsocket, Rhode Island, USA |
Again, not a family drama—just major corporate chess games played at the highest level. The closest thing to a “family” at CVS is probably the close-knit executive teams and, honestly, the sense of competition it has with Walgreens. If you were picturing CVS and Walgreens as longtime soulmates, think more like archrivals fighting over the best corner lots for new stores.
Fierce Competition: Walgreens vs. CVS and the Street Corner Sprint
Here’s a wild fact: In major American cities, Walgreens and CVS often face off right across the street. It’s not rare in places like Los Angeles, Chicago, or Miami to see both stores on the same block. Some have joked that they put stores right next to each other just out of spite. In reality? It’s all about business science—location matters, and competition pushes both companies to outdo each other in convenience and services.
Check this out: As of last year, CVS edged out Walgreens with over 9,000 stores, while Walgreens trails just behind. Both chains pull in billions in annual revenue—CVS Health topped $350 billion in 2024, while Walgreens Boots Alliance brought in just under $140 billion. This isn’t just a turf war; it’s a battle of business models, customer loyalty, and healthcare access.
Both giants have jumped into digital health, curbside pickup, and prescription delivery. During the COVID pandemic, they became central to the U.S. response, offering tests and vaccines—even drive-thru shots. Both brands have paved the way for a retail-in-healthcare revolution, but each with its own twist. For example, CVS really pushed into health insurance and clinics, while Walgreens focused harder on pharmacy services and global partnerships.
So, if you ever wonder why the two chains seem locked in an endless duel, now you know: It’s not romance—it’s relentless competition. In fact, the constant rivalry has even helped drive improvements for customers. Zia—my daughter—loves “pharmacy scavenger hunts” with me and Leila. One time, she found three Walgreens and two CVS stores on the same side of the street in under ten minutes. Family field trips find all the good stuff.
What Does This Mean for Pharmacy Customers?
If you’re standing at a crosswalk, able to see both a Walgreens and a CVS, you’re not in the middle of a family feud—you’re benefiting from the world’s weirdest arms race for your business. The competition means more hours, new clinics, and sometimes screaming sales on shampoo or snacks.
Do all these rival stores mean you’ll always get the best deal? Not always, but you do get more options. Many customers switch between the two, scouring their apps for rewards or bargain bin finds. Walgreens has its myWalgreens loyalty program, offering points and personalized discounts, while CVS fans swear by ExtraCare—and those famously long receipts.
Here are some tips if you want to get the most out of each:
- Download both apps. Compare coupons and rewards in real time.
- Sign up for both loyalty programs. Some sales stack with manufacturer coupons.
- Look for seasonal deals. School supplies and holiday candy are often priced to undercut their rival across the street.
- If you need a flu shot, see which one has a shorter wait—convenience can be a real tiebreaker.
- Ask about medication synchronization programs if you fill prescriptions monthly. Both chains offer plans, but the details aren’t always identical.
For health needs, convenience is king, so having two giants locked in a competitive dance often means better access, more choices, and—sometimes—a reason to cross the street just to check if your favorite snacks are on sale.
No matter which store you pick, you’re not stepping into a husband-and-wife business. You’re mixing it up with massive corporations that keep trying to outdo each other for your trust, your loyalty, and your next prescription pickup.