Warren Buffett Is Set To Collect $776 Million In Coca-Cola Dividends – But Daughter Says His Wife Buys Him The Soda 'On Sale'

Warren Buffett is a master of making money – and Coca-Cola is one of his biggest cash cows. In 2024, Berkshire Hathaway, Buffett's investment behemoth, is set to rake in $776 million in Coca-Cola dividends alone. 

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That's right: $776 million for holding 400 million shares. According to Moneywise, this massive payout comes from Coca-Cola upping its quarterly dividend to 48.5 cents per share. If you're doing the math, that's $0.485 x 4 x 400,000,000. It’s not a bad haul for simply sitting on a mountain of Coke stock.

Buffett's love for Coca-Cola isn't just financial – it's personal. The 94-year-old billionaire famously drinks five cans daily and gets roughly 25% of his daily calories from the fizzy stuff. In a 2015 Fortune interview, he admitted, "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." 

However, despite being Coca-Cola's largest shareholder and perhaps its most dedicated fan, Buffett doesn't get his favorite beverage for free. As revealed in the 2017 HBO documentary Becoming Warren Buffett, his wife Astrid even goes out of her way to buy the soda on sale. According to Buffett's daughter, Susie, her dad doesn't have room to stockpile the soda, but her mother bought it in bulk for the best price when she was alive. 

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Susie also revealed her famously frugal father's second wife, Astrid, also likes to get a deal. "Astrid is more likely to try to find out where it's on sale and buy it on sale." 

While it may seem like Buffett has been a Coca-Cola lover forever, he once only drank its rival. His son, Howard, even called him "Pepsi Warren." He reportedly drank Pepsi for nearly 50 years before switching brands in the 1980s. 

Buffett's switch from Pepsi to Coca-Cola reportedly had to do with his neighbor, Don Keough, a coffee salesperson in Omaha in the 1960s. According to Glen Arnold in The Deals of Warren Buffett Volume 2, Buffett once knocked on Keough's door with a pitch: "If you give me $10,000, I might be able to do something with it." Keough wasn't sold. "I didn't have it, but I could've borrowed it from my father. But can you imagine giving $10,000 to a guy who doesn't get up and go to work in the morning?" he later said. Keough passed on the offer, which Arnold estimated could've grown to $93 million by 2018.

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Years later, Keough climbed the corporate ladder at Coca-Cola, becoming its president and COO in the 1980s. Keough seized the moment when he read in a magazine that Buffett was hooked on Pepsi Cherry. He sent his old neighbor some Cherry Coke samples, calling it the "nectar of the gods." Buffett was hooked. In 1986, he even told Berkshire Hathaway shareholders that Cherry Coke was now the official drink of their annual meeting, cementing his switch – and his eventual investment – in Coca-Cola.

Buffett’s 400 million shares of Coca-Cola stock represent a massive portion of his investment portfolio, worth over $25 billion at current market prices. But this investment is more than just numbers – it's a perfect example of Buffett's long-term approach to investing and his connection to the brand, even if he does have to buy it on sale. 

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