There once was a kid named ET,
Whose father was known as GE.
In his early years,
ET soared over his peers,
But then lost to a kid named CB.
What are ET and CB? Who is GE?
(ET and CB are things, and GE is a person)
I think ET is:
The Eiffel Tower
ET's 'father', GE is:
The French civil engineer responsible for the tower (which bears his name): Gustave Eiffel.
"In his early years, ET soared over his peers", since:
When the Eiffel Tower was built (completed in 1889) it was the tallest man-made structure in the world, 300.6m in height, 'soaring above' all others.
"But then lost to a kid named CB"
However, in 1930 the Chrysler Building (initials CB) was completed, standing 319 m high and taking the title of tallest man-made structure from the Eiffel Tower.
...but eventually the Eiffel Tower did get its own back in 1957, after an antenna was attached to the top, taking its height up to 324m and making it taller than the Chrysler Building! (Although not as tall as the then-tallest building in the world, the 448m Empire State Building - they'd have needed a puh-retty big antenna to top that one!)