Warren Buffett’s investment in Coca-Cola is legendary. In 2024, his company, Berkshire Hathaway, will earn $776 million in dividends from Coca-Cola. This comes after Coca-Cola raised its quarterly dividend to 48.5 cents per share, up from 41 cents last year. Buffett owns 400 million shares, which makes this payout significant. The total amount for the year is impressive. His shares, worth over $25 billion, make up a large part of his portfolio.
Buffett’s connection to Coca-Cola goes beyond money. He is a daily drinker of the soda. At 94 years old, Buffett drinks five cans of Coca-Cola every day. He once said, “If I eat 2,700 calories daily, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I do it every day.” This shows his loyalty to the brand.
Even though Buffett is Coca-Cola’s largest shareholder, he doesn’t get special treatment. His wife, Astrid, likes to shop for Coca-Cola on sale. Buffett’s daughter, Susie, said, “Astrid is more likely to try to find out where it’s on sale and buy it on sale.”
Surprisingly, Buffett wasn’t always a Coca-Cola fan. For nearly 50 years, he drank Pepsi and was called “Pepsi Warren” by his son, Howard. His change came in the 1980s, when his neighbor, Don Keough, introduced him to Cherry Coke. Keough, who later became Coca-Cola’s president, called it the “nectar of the gods.” After trying it, Buffett was hooked. In 1986, he made Cherry Coke the official drink at Berkshire Hathaway’s annual meeting, marking his shift in loyalty.
