John Stumpf, CEO of Wells Fargo & Co., when telling the story of eating his first meal with Warren Buffett in Omaha, Nebraska, said he was quite shocked by the eating habits of the billionaire investor.
Stumpf, in response to a question made about Warren Buffett at the National Press Club today in Washington, said the third richest person in the world ate a medium rare T-bone steak, with a side order of Chicken Parmesan, mashed potatoes and his favorite, Cherry Coke. The 84-year-old Buffett is the head honcho at Berkshire Hathaway Inc., and they are the biggest shareholder of Wells Fargo, based out of San Francisco.
“Warren eats a full meal, let me tell you,” said the 61-year-old Stumpf. “When the food comes, Warren grabs a salt shaker in his left hand and one of his right hand, and it’s a snowstorm. And I know a snowstorm when I see one because I’m from Minnesota.”
Stumpf mentioned that he suggested that Buffett should cut back on his intake of sodium and even consider a colonoscopy. Many know that Buffett would prefer to choose hamburgers over vegetables, and this is all part of his folksy persona. In 2000, Buffett underwent a procedure to remove polyps from his colon discovered during a routine exam.
“I went in with a colon and came out with a semicolon,” said Buffett, bringing back one of his old favorite jokes in an email that his assistant sent today. He chose not to comment on Stumpf’s remarks.
Berkshire Hathaway has been a shareholder of Wells Fargo since 1989, and also owns many other companies including See’s Candies and Dairy Queen, and is one of the biggest shareholders of Coca-Cola. Last month, Berkshire Hathaway pledged to help Burger King finance its purchase of Tim Hortons, the Canadian doughnut chain.
“Warren is just a terrific human being,” said Stumpf, and he added that Buffett does not mettle in the affairs of Wells Fargo at all.
In what would amount to nearly an hour long speech today, Stumpf talked about how regulation is putting a hurting on the US economy and he also discussed philanthropy.