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April 6, 2017

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Buffett grins from Cherry Coke cans

THE likeness of billionaire Warren Buffett is gracing Cherry Coke cans in China, where the company’s largest investor enjoys a legendary reputation.

Coca-Cola has announced that a grinning cartoon portrait of the American business magnate would adorn cans and bottles of his favorite flavor after it was introduced in the country on March 10.

Berkshire Hathaway, Buffett’s investment company, is Coca-Cola’s biggest shareholder with a 9.3 percent stake valued at about US$17 billion.

Buffett invested in Coca-Cola as early as 1985.

“Incidentally, there is no compensation involved,” Buffett told Yahoo Finance of the use of his image for “a limited promotional period.”

The 86-year-old investor and philanthropist has been photographed on numerous occasions taking a swig of Cherry Coke, earning him the title of “best-known fan” from Coca-Cola Chief Executive Muhtar Kent.

In China, Buffett’s business acumen has made him a celebrity and inspired thousands of Chinese investors to reportedly flock to Omaha, Nebraska, for Berkshire Hathaway’s annual meeting last year.

Buffett has in turn lauded China’s “totally miraculous” growth.


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