Yahoo Finance Warren Buffett Shipped $5 Via FedEx To Settle A Football Bet And Jokes That's His Limit This Year: 'There's No Fool Like An Old Fool'
Even billionaires enjoy a friendly wager, and Warren Buffett, the famously frugal CEO of Berkshire Hathaway, recently demonstrated that. But it wasn’t a high-stakes investment that made headlines — it was the way he settled a lost bet on a college-football game.
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Buffett, a staunch supporter of his home state team, the Nebraska Cornhuskers, placed a $5 wager in 2023 against the Colorado Buffaloes, championed by none other than Chevron CEO Mike Wirth. With Berkshire Hathaway holding a significant stake in Chevron, over $20 billion worth of shares, it’s no surprise that these two titans knew each other. In fact, as Andy Serwer, editor of Barron’s, revealed, football was the very first topic they discussed during a recent lunch between Buffett and Wirth.
The Buffaloes, energized by their new coach Deion Sanders, emerged victorious. In line with his reputation, Buffett settled the debt in a decidedly old-school way: a single, decades-old $5 bill shipped via FedEx.
Despite his firm’s substantial investments in technology giants such as Apple, Warren Buffett opted for a more personal approach in settling his football wager, a choice highlighted by Serwer. Rather than using digital payment methods such as Apple Pay, Buffett chose to send cash via FedEx, underscoring his preference for tangible over digital transactions.
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In his conversation with Serwer about the bet, Buffett shared a lighthearted comment about his annual betting budget, stating, "I have $5 in my budget for football in 2024," and humorously added, "There’s no fool like an old fool."
For Wirth, the victory was doubly sweet. He was thrilled by the Buffaloes’ performance and the unexpected arrival of a FedEx package from Buffett on his desk. "Finding a FedEx package from Warren on my desk is just a little icing on the cake," Wirth remarked.
Buffett’s approach to settling the bet reflects his broader lifestyle choices, famously consistent and modest despite his vast wealth. He still lives in the same Omaha house he bought over 60 years ago and enjoys daily breakfasts from McDonald’s, illustrating his dedication to simplicity and routine. This penchant for familiarity and his traditional ways not only manifests in his personal life but also influences his business decisions. He enjoys a no-frills approach to investment and leisure, preferring reliable, well-understood practices.
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This article Warren Buffett Shipped $5 Via FedEx To Settle A Football Bet And Jokes That's His Limit This Year: 'There's No Fool Like An Old Fool' originally appeared on Benzinga.com
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