Warren Buffett spent nearly 50 years drinking Pepsi. His son even nicknamed him "Pepsi Warren." Then a neighbor handed him samples of a new cherry-flavored Coca-Cola, and the legendary investor switched sides.
The soda switch made for a good story. The stock purchase that followed made history.
Buffett began buying Coca-Cola shares in 1988, and Berkshire Hathaway eventually built a 400 million-share position for about $1.3 billion. Today, that stake is worth roughly $37 billion at a share price of $93, while the annual dividend income has climbed to about $848 million.
Read more: Warren Buffett explained how he'd turn $10,000 into $30 billion if he were starting over
#buffett
The soda switch made for a good story. The stock purchase that followed made history.
Buffett began buying Coca-Cola shares in 1988, and Berkshire Hathaway eventually built a 400 million-share position for about $1.3 billion. Today, that stake is worth roughly $37 billion at a share price of $93, while the annual dividend income has climbed to about $848 million.
Read more: Warren Buffett explained how he'd turn $10,000 into $30 billion if he were starting over
#buffett
18 hours ago
