The man who drinks five cans of Coke every day drankPepsi for 50 years. Glen Arnold wrote in "The Deals of WarrenBuffett Volume 2: The Making of a Billionaire" that he only changed brands because of an old neighbour.
The legendary investor told Fortune in 2015 that he drinks 25% of his daily calories from Coca-Cola.
His money was following his words. His conglomerate has a 9% stake in Coca-Cola.
The so-calledoracle likes cherry coke He agreed to have a cartoon of himself slapped on cans of the drink, but didn't charge a fee.
He is not a lifetime loyalist. One of Howard's childhood friends told CNBC that Howard used to call himPepsi Warren because of his dislike for the rival soda.
Don Keough was a coffee salesman who lived across the street from Buffett in Omaha. In 1960, Buffett dropped by Keough's house to tell him that he was starting a partnership and that he could do something with the money.
Keough thought that his neighbor lacked a job and had time to entertain his kids.
I could have taken it from my father. Is it possible to give $10,000 to a guy who doesn't wake up in the morning? In an interview with Michael Eisner, Keough said.
Keough didn't perform a trick. Arnold estimated that a $10,000 investment with Buffet could be worth $92 million by the end of the year.
Coca-Cola bought Keough's company in 1964 and he rose through the ranks to become the soda giant's president and COO in 1981. He read in a magazine that he was a big fan of the beverage. He offered to send some samples of the still-in- development Cherry Coke to his former neighbor.
The sample hit the mark. In 1986 he told his shareholders to expect a change.
After 48 years of loyalty to another soft drink, your Chairman has decided to switch to the new cherry coke." The official drink of the annual meeting will be this one.
Keough is responsible for other things as well. His leadership of Coca-Cola, combined with the stock-market crash in October 1987, and the company's resilient growth and strong fundamentals, led to the purchase of more than a billion dollars of the company's stock by Warren Buffet.