At 92, Warren Buffet has a net worth of over $110 billion. Born on August 30, 1930, the ‘Oracle of Omaha’ is currently the fourth richest man in the world. Buffet is the chairman and CEO of Berkshire Hathaway, a multinational company.
Buffet made his bones in business and investment markets through his prudent approach, as he was great at finding high-quality companies at fair market valuations. Despite his great financial success, he remains content with simpler things, even concerning his preferred choice of soda.
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Why Did Warren Buffet Switch Coca-Cola With Pepsi?
Coca-Cola accounts for 25% of Warren Buffet’s regular calorie intake. He famously stated Cherry Cola as his drink of choice, making it an official boardroom meeting beverage. But despite his affinity, Buffet wasn’t always allegiant to Coca-Cola.
Warren’s son, Howard, refers to his dad as “Pepsi Warren” because of his fondness for the rival product. That was until a coffee salesman named Don Keough came along. In 1960, Buffet visited Don, informing his neighbor that he was starting a partnership, adding, “If you give me $10,000, I might be able to do something with it.”
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What Was Warren Buffet’s Impact On The Rise Of Coca-Cola?
Don Keough didn’t trust Warren Buffet, citing his lack of a steady job as his primary concern. In 1985, Don heard of his former neighbor’s love for Pepsi-Cola Cherry. This time he didn’t hesitate, sending Warren the samples of still-in-development Cherry Cola product. The rest is history.
Buffet switched to Coca-Cola after 48 years. He went further by declaring it to be the official drink of the Berkshire Hathaway Annual Meeting. Buffet’s faith in the product was such that he bought $1.3 billion worth of its stock between 1988 and 1994. As of January 06, 2023, Coca-Cola has a net worth of $274.17 billion.
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