Coca-Cola Co is putting the likeness of Warren Buffett on Cherry Coke cans in China
It may not mean a lot to you, and we wonder just how much it will mean to the Chinese people who like to drink Coca-Cola, but if you are the Chairman, President and CEO of a massive investment company, which also happens to be the biggest investor in your company, then it just might make sense that his likeness is displayed on one of your company’s products.
It turns out that Coca-Cola Company have got permission from Warren Buffett to put his likeness on their Cherry Coke cans in China, hoping to benefit from its biggest shareholder’s popularity in the country, even if it’s only for a limited time. Berkshire Hathaway which Warren Buffett runs has a large stake in the Coca-Cola business, massive in fact, a 9.3 percent stake worth roughly $17 billion (£13.63 billion). Buffett has a big following in China; they often send a large contingent to watch him at Berkshire’s annual meetings in Omaha, Nebraska. He has even arranged to provide simultaneous translation only in Mandarin on the company website.
Warren Buffet is no stranger to drinking the product in which he invests; he has remarked that he is “one quarter Coca-Cola” because the beverage accounts for 25 percent of his caloric intake, drinking five cokes a day! He has managed to reach the ripe old age of 86 years and said that if he stopped his indulgence in his favourite beverage and took to “water and broccoli” there is no evidence at all that he would reach 100 years!
Buffett is a man of principle and noted for his frugality, all in spite of his staggering wealth and as of March 2017 is the second wealthiest person in the United States with a total net worth of $78.7 billion, he has pledged to give away 99% of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. A supporter of Hillary Clinton in the last US Presidential election, he has publicly opposed the policies, actions, and statements of the current U.S. president, Donald Trump.
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