A Refreshing Investment
Cans of Cherry Coke in China are about to get a whole lot richer, but only on the outside.
Right now, and only for a limited time the image of billionaire Warren Buffet can be found on the sides of cans of Cherry Coke sold in China. Coke says it received permission from buffet for the unusual campaign in an effort to capitalize on his popularity in the country.
Berkshire Hathaway which buffet runs is Coke's largest investor with a 9.3% stake in the company, worth about $17 billion. Buffet himself has a large group of fans in China which often sends groups of people to watch him at his company's annual meetings in Nebraska. Last year Berkshire even webcast its meeting for the first time and provided a translation in mandarin. And it looks like the feeling is mutual.
Buffet says he usually drinks five Cokes a day and jokes that he is one quarter Coke-a-Cola because the drink accounts for 25% of his daily caloric intake. Talk about putting your money where your mouth is.