Billionaire investor Warren Buffett has offered another glimpse into his long-standing preference for Coca-Cola after reportedly telling fellow investor Bill Ackman that he had not drunk water in 48 years. The anecdote, recounted by Ackman in October 2026, has renewed attention on Buffett’s personal relationship with the beverage brand in which his company holds a substantial investment.
Buffett’s preference for Coca-Cola is well documented, although the claim about going 48 years without water remains an anecdote attributed to him by Ackman, rather than an independently verified account of his drinking habits. The story also draws attention to the unusual overlap between Buffett’s personal consumption and Berkshire Hathaway’s long-term investment in The Coca-Cola Company.
Cherry Coke Over Water
Ackman, founder and chief executive of Pershing Square, recalled hosting Buffett for dinner several years ago. Knowing his guest’s preference, he had arranged to have Cherry Coke available before offering him still or sparkling water at the table. Buffett declined both options and requested his preferred soft drink instead.
When Ackman asked whether he drank water, Buffett reportedly replied that he had not had water in 48 years. The comment emerged during Ackman’s appearance on the Equity Mates Investing podcast, where he was discussing his interactions with the veteran investor. The account does not establish whether Buffett avoids all forms of water, including water contained in other beverages and food.
A Longstanding Brand Preference
Buffett has discussed his Coca-Cola consumption publicly before. In a 2015 interview, when he was 84, he said he drank at least five 12-ounce servings daily, usually three during the day and two at night. He also estimated that Coca-Cola supplied about a quarter of his daily 2,700 calories, a figure he repeated at Berkshire Hathaway shareholder meetings. His comments were recorded in the interview.
Ackman’s account also referred to seven Cherry Cokes a day when discussing Buffett’s habits. The different figures reflect accounts from different occasions rather than a verified current consumption record. Buffett has additionally spoken about his fondness for McDonald’s, potato sticks, ice cream and sweets, making his eating habits a recurring subject of public interest.
The Investment Connection
There is a substantial business connection behind the personal anecdote. Berkshire Hathaway, the investment conglomerate Buffett led for decades, held 400 million Coca-Cola shares, representing 9.29 per cent of the company, as of December 31, 2025. The holding was disclosed in Coca-Cola’s 2026 proxy filing, making Berkshire one of the soft-drink manufacturer’s largest shareholders.
The relationship extends beyond a consumer’s brand preference. Buffett has repeatedly defended Coca-Cola as a long-term investment, while Berkshire’s position demonstrates the scale of its financial commitment to the beverage business. For Coca-Cola, the association provides another example of how a globally recognised brand can become closely identified with a prominent investor.
Beyond the Headlines
Coca-Cola’s commercial presence also extends well beyond the United States. In Nigeria, the company marked 75 years of operations in 2026, while its wider system continues to invest in production, bottling and distribution across African markets. Buffett’s anecdote does not provide evidence of changing consumer demand, but it illustrates the visibility the brand continues to enjoy internationally.
His reported decision to avoid water should not be interpreted as dietary advice. The account provides no medical evidence that replacing water with sugary soft drinks is safe, and Buffett’s longevity does not establish that his consumption habits are responsible for his health.
