Warren Buffett hasn’t had a glass of water since at least the 1970s.
That’s what the 96-year-old business icon told Bill Ackman, the billionaire hedge fund manager he recalled during an episode of the Equity Mates Investing podcast that aired this week.
Ackman said that Buffett came to his house for dinner “years ago,” and that he would stock the legendary investor’s favorite beverage, Cherry Coke.
The founder and CEO of Pershing Square said that while he was sitting at the table, he asked Buffett if he liked the amazing water. Buffett politely declined, opting for his preferred soda.
“But I said, you know, ‘Why don’t you drink water?'” Ackman recalled. “And he said, ‘Bill, I haven’t had water in 48 years.'”
Ackman did not immediately respond to requests for more details about Buffett’s hydration habits.
Not drinking water may sound unbelievable, but Buffett — who retired as CEO of Berkshire Hathaway after 60 years in charge last December, and is the company’s chairman this September — is famous for drinking five cans of Coke a day.
He joked in 2015 that he was “a quarter of Coca-Cola,” accounting for 25% of his daily calories.
Buffett’s love of soda goes back decades. During a 1986 Berkshire meeting, he announced that after “48 years of loyalty” to Pepsi, he was switching to Cherry Coke, saying it would be the meeting’s official drink.
Coca-Cola has also been one of Buffett’s landmark investments. Berkshire hasn’t touched its roughly 9% stake in the beverage giant since it was built in the mid-1990s. The position was worth about $1.3 billion and was worth about $28 billion at the end of December – a gain of about 21 times.
Coke is just part of Buffett’s good diet. He is known for grabbing McDonald’s for breakfast on the drive to work, and eating hot dogs, French fries, popcorn, cookies, candy, ice cream, and comfort food.
The love for fast food and sweet food exceeds the investment. Berkshire counts See’s Candies and Dairy Queen among its subsidiaries, and Kraft Heinz among its largest holdings.
Buffett’s childhood taste has led to trouble in the past, including a disastrous sushi dinner in Tokyo.
Bill Gates and his wife at the time, Melinda, tried to keep investors from starving when they joined him on a 17-day trip to China in 1995.
They arranged for the hotel chef to be taught how to prepare hamburgers and fries, and when they climbed the Great Wall, they made sure that Cherry Coke was waiting for Buffett at the top.