Coke is a young person’s drink, especially in China, but the kids also love money and success it seems. So Coke have chosen 86-year-old Warren Buffett as their ‘face’ – as the Chinese are apparently crazy for him.
The American magnate – who is Coke’s biggest shareholder – is so highly regarded in China for his business success, his image is being used to spruik Coke’s new limited edition Cherry drink there.
He’s now so well known, when his investment firm Berkshire Hathaway began streaming its annual general meeting online last year, it was translated into Mandarin Chinese in real-time.
Berkshire Hathaway owns 9.3 per cent of Coca-Cola – a $17 billion stake – but Mr Buffett won’t receive any compensation from Coke for the endorsement, saying he’s happy to sell the products.
He’s previously stated he drinks five cans of Coke a day. “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 last year.
