Honestly, if you've ever stopped for a late-night coffee or a tank of diesel at a Pilot Flying J, you probably noticed the "Family Owned" vibe that used to define the place. For decades, the Haslam family name was synonymous with those big red and yellow signs lining the interstate. But things change. Fast. If you’re looking for the short answer to who is the owner of Pilot Travel Centers today, it’s not the Haslams.
Since early 2024, the undisputed owner of Pilot Travel Centers is Berkshire Hathaway.
Yeah, that Berkshire Hathaway. The massive conglomerate run by Warren Buffett. They didn't just buy a piece of the pie; they bought the whole kitchen, the oven, and the delivery truck. As of January 16, 2024, Berkshire Hathaway officially owns 100% of Pilot Travel Centers. The transition was a multi-year saga that involved billions of dollars, a massive lawsuit, and a pretty emotional exit for one of Tennessee's most prominent families.
The Drama Behind the Deal: How Berkshire Took Control
It wasn't exactly a smooth handoff.
You’ve gotta understand that the Haslam family, who founded the company back in 1958 with a single gas station in Gate City, Virginia, didn't just wake up one day and decide to vanish. This was a calculated, tiered exit that began nearly a decade ago.
✨ Don't miss: Syrian Dinar to Dollar: Why Everyone Gets the Name (and the Rate) Wrong
- The 2017 Spark: Berkshire Hathaway initially bought a 38.6% stake. At the time, it felt like a partnership.
- The 2023 Shift: Buffett’s firm exercised its right to buy another 41.4%, bringing their total to 80%. This is when the "majority owner" label officially moved to Omaha, Nebraska.
- The 2024 Finale: The final 20% was the kicker.
Why the wait? Well, the original contract gave the Haslams a "put option." Basically, they could force Berkshire to buy the remaining fifth of the company at a price based on the previous year's earnings.
But then, things got messy. Kinda ugly, actually.
In late 2023, both sides ended up in a Delaware court. The Haslams accused Berkshire of using "pushdown accounting" to artificially lower the company's reported earnings, which would have saved Berkshire about a billion dollars on the final purchase price. Berkshire didn't take that sitting down; they countersued, alleging that Jimmy Haslam—the owner of the Cleveland Browns—tried to bribe Pilot executives with secret payments to "juice" the earnings and inflate the sale price.
They settled literally the day before the trial was supposed to start. No one knows the exact dollar amount of that settlement, but the result was clear: the Haslams walked away, and Berkshire Hathaway took 100% ownership.
🔗 Read more: New Zealand currency to AUD: Why the exchange rate is shifting in 2026
Why Does Warren Buffett Want Your Truck Stop?
It seems like a weird flex for a guy known for insurance and tech stocks, right? But Pilot is a beast.
Before the full acquisition, it was the fifth-largest private company in the U.S. We’re talking over 750 locations across 44 states and six Canadian provinces. They sell roughly 14 billion gallons of fuel a year. That’s an insane amount of cash flow.
Berkshire loves "moats"—businesses that are hard to disrupt. You can't easily replicate a network of massive travel centers that sit on prime real estate right off the highway. Plus, Pilot isn't just a gas station anymore. They’ve moved heavily into energy, crude hauling, and even water disposal. They’re basically a massive logistics and energy hub that happens to sell hot dogs and clean showers.
What Most People Get Wrong About the Current Setup
A lot of folks still think the Haslam family is calling the shots from Knoxville. They aren't. While the headquarters remains in Knoxville, Tennessee, the leadership has shifted.
💡 You might also like: How Much Do Chick fil A Operators Make: What Most People Get Wrong
Adam Wright is currently the CEO. He’s a Berkshire veteran, formerly of MidAmerican Energy and Occidental Petroleum. This is a classic Buffett move: install "Berkshire people" who understand the long-term, low-drama culture of the parent company.
Also, don't confuse the brands. "Pilot Travel Centers" is the legal entity, but you usually see "Pilot Flying J" on the sign. That brand was born from a 2010 merger with Flying J. Berkshire owns all of it—the Pilot brand, the Flying J brand, the ONE9 Fuel Network, and the Mr. Fuel shops.
Key Ownership Milestones
- 1958: Jim Haslam II founds Pilot in Virginia.
- 2001: Partnership with Marathon Petroleum (then Marathon Ashland).
- 2010: The big merger with Flying J.
- 2017: Berkshire enters the chat with 38.6%.
- 2023: Berkshire hits 80% and takes majority control.
- 2024: 100% ownership achieved after the legal dust settled.
Is This Good or Bad for Drivers?
Honestly, the "Berkshire effect" usually means stability. Buffett doesn't tend to buy companies and strip them for parts. He buys them because they work and keeps them running.
You’ll likely see more investment in "New Energy." Pilot has already been pushing into EV charging networks and alternative fuels. With Berkshire’s massive energy portfolio (like Berkshire Hathaway Energy), they have the capital to turn these truck stops into the "filling stations of the future" without worrying about short-term stock market jitters.
The Haslam family's exit marks the end of an era. Jim Haslam II once said it was an "emotional decision," and you can see why. 65 years of family history ended with a press release and a settlement. But for the 30,000 employees and the millions of drivers who stop there every day, the name on the stock certificate matters less than the quality of the coffee and the speed of the pump.
Actionable Next Steps:
- Check Your Loyalty Programs: If you're a regular, keep an eye on the myRewards Plus app. Ownership changes often lead to "synergy" updates in how rewards are handled across different brands.
- Monitor Energy Shifts: If you are an investor or in the logistics industry, watch Pilot’s expansion into hydrogen and EV charging. Berkshire's backing means they have the "deep pockets" to lead the industry in the transition away from traditional diesel.
- Verify Local Impacts: If you’re in Knoxville, expect the Haslam family to remain huge philanthropic figures, even if they no longer own the "big red P." They've shifted their focus heavily toward community development and their other business interests, like the Cleveland Browns.