Warren Buffett is worth over $145 billion, runs one of the largest conglomerates in the world, and drinks five Cherry Cokes a day — but, according to his daughter, he's never touched a sip of water. Ever.
And while it's well known that Buffett has never had an alcoholic drink in his life, what's less expected is that this 94-year-old billionaire has no problem investing in both alcohol and water companies — despite steering clear of both on a personal level.
"I've never in my life — and I'm not kidding — seen the man drink a sip of water," his daughter Susie Buffett said in the 2009 documentary, "The World’s Greatest Money Maker: Warren Buffett."
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Nearly a decade later, in the 2017 HBO documentary "Becoming Warren Buffett," she doubled down: "He doesn't drink water. He doesn't do anything he's supposed to do. And he's healthy."
When asked about alcohol in various interviews, Buffett has been consistent: he's never had a drink. As The UK Independent noted, Buffett has never smoked or consumed alcohol and said he avoids both to protect his health.
During a Berkshire Hathaway annual shareholder meeting years ago, he once explained the logic using one of his signature metaphors:
Imagine you're 16 years old and a genie gives you any car you want, he told students — but warns it's the only car you'll ever own.
"Now, if you're smart, you'll take care of that car," Buffett said. "Well, you only get one body and one mind — and it has to last a lifetime."
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That mindset might help explain how Buffett's made it to 94 with a sugar-heavy diet and a zero-water, zero-alcohol policy — but when it comes to his investments, it's a different story entirely.
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In late 2024, Buffett's Berkshire Hathaway invested $1.24 billion in Constellation Brands, the parent company of Corona beer, Modelo, and Robert Mondavi wines. By early this year, the position more than doubled, making it one of Berkshire's biggest bets in the consumer goods space. The company now owns more than 6.6% of Constellation.
Berkshire has also long held a position in the water industry. Through its Marmon Group, Berkshire owns EcoWater Systems, which produces residential and commercial water treatment products. Berkshire was also the second-largest shareholder of Nalco, a major water-treatment chemical firm, before it merged into Ecolab.
Fellow billionaire Bill Gates has a similar stance. While he's said he's "not a big beer drinker," he's still invested heavily in the alcohol industry.
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In a 2018 Reddit AMA, Gates admitted:
"I am not a big beer drinker. When I end up at something like a baseball game I'll drink light beer to get with the vibe."
Despite that, in February 2023, Gates' trust and personal accounts co-purchased a $902 million stake in Heineken Holding—the parent company of Heineken beer.
So why the disconnect between personal lifestyle and portfolio strategy?
Well, as Buffett himself once said in a 2018 CNBC interview:
"My partner Charlie says there are only three ways a smart person can go broke: liquor, ladies, and leverage."
Buffett's avoided all three in his personal life. But in the markets? He knows opportunity when he sees it — even if he wouldn't drink to it
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