The Atlanta Journal-Constitution
UNCONVENTIONAL CELEBRITY GRACES COKE CAN IN CHINA
Billionaire investor’s face adorns cans of soda for launch.
Coca-Cola is featuring a different type of celebrity on its cans in China: Warren Buffett. The Atlanta company says it decided to feature a drawing of the billionaire investor on cans for the launch of Cherry Coke in the country. Buffett is a known fan of Cherry Coke, and his Berkshire Hathaway is Coke’s largest single shareholder.
The company, which introduced Cherry Coke in the Asian nation on March 10, will offer the Buffett cans for a limited time while supplies last, according to its website. Coca-Cola cited Buffett’s renown in China, where investors have sought to copy his tactics.
Buffett’s investment firm, Berkshire Hathaway Inc., owns 9.3 percent of Coca-Cola — a holding valued at about $17 billion. The 86-yearold has been a major shareholder in the beverage giant for more than a quarter-century and spent about $1.3 billion building the stake.
He’s also a heavy user of the product: Buffett has said that he drinks about five cans of Coke per day, and he’s frequently seen sipping the beverage at public events.
Shaun Rein, founder of the China Market Research Group, said business leaders in China tend to have an “outsized” following, in some case more than sports stars. Buffett is also seen as “a non-corrupt, down-to-earth” person in the country, Rein said.
Coke began selling Cherry Coke in China on March 10. The special edition Buffett cans will remain on shelves for a limited time.
Buffett, who has a net worth of about $75 billion, has come to the defense of Coke amid concerns about the effects of sugary drinks. At his company’s annual meeting last year, he said his happiness from drinking the soda outweighs health benefits from eating more vegetables.
“I have not seen evidence that convinces me that it’ll be more likely I reach 100 if I suddenly switched to water and broccoli,” Buffett said.