Key Takeaways
- • Warren Buffett told Bill Ackman over dinner at Ackman's home that he had not had water in decades, saying "I haven't had water in 48 years," according to Ackman's recollection on the Equity Mates Investing podcast.
- • Buffett, 96, drinks five cans of Coke daily and said in 2015 he was "one-quarter Coca-Cola," with Coke accounting for 25% of his daily calories.
- • Berkshire Hathaway's roughly 9% Coca-Cola stake cost about $1.3 billion and was worth around $28 billion at the end of December, a roughly 21-fold gain.
- • Buffett retired as Berkshire Hathaway's CEO after 60 years in charge last December and became chairman this September.
Summary
Warren Buffett told Bill Ackman, the billionaire founder and CEO of Pershing Square, that he had not had a glass of water in decades. Ackman recounted the exchange on the Equity Mates Investing podcast, which aired this week. He said Buffett came to dinner at his home "years ago" and that he had stocked up on Cherry Coke, Buffett's preferred drink. When Ackman asked whether he would like still or sparkling water, Buffett declined and asked for his soda. Ackman then asked whether he drank water at all, and Buffett replied, "Bill, I haven't had water in 48 years." Ackman did not respond to a request for further detail on Buffett's hydration habits.
The 96-year-old investor's soda habit is long established. He drinks five cans of Coke a day and has described himself as "one-quarter Coca-Cola" since a 2015 remark about Coke's share of his daily calories. During Berkshire's 1986 annual meeting, he announced that after "48 years of allegiance" to Pepsi he was switching to Cherry Coke. His diet also includes McDonald's breakfasts, hot dogs, fries, candy, and ice cream.
Coca-Cola is also one of Buffett's most profitable investments. Berkshire Hathaway has held its roughly 9% stake since the mid-1990s. The position cost about $1.3 billion and was worth around $28 billion at the end of December, a roughly 21-fold gain. Buffett retired as Berkshire's CEO last December after 60 years in charge and became chairman this September.
The anecdote was widely reported by Business Insider, which noted that Ackman's account has not been independently confirmed by Buffett or Berkshire Hathaway.
The 96-year-old investor's soda habit is long established. He drinks five cans of Coke a day and has described himself as "one-quarter Coca-Cola" since a 2015 remark about Coke's share of his daily calories. During Berkshire's 1986 annual meeting, he announced that after "48 years of allegiance" to Pepsi he was switching to Cherry Coke. His diet also includes McDonald's breakfasts, hot dogs, fries, candy, and ice cream.
Coca-Cola is also one of Buffett's most profitable investments. Berkshire Hathaway has held its roughly 9% stake since the mid-1990s. The position cost about $1.3 billion and was worth around $28 billion at the end of December, a roughly 21-fold gain. Buffett retired as Berkshire's CEO last December after 60 years in charge and became chairman this September.
The anecdote was widely reported by Business Insider, which noted that Ackman's account has not been independently confirmed by Buffett or Berkshire Hathaway.
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