A Can Of Coke Cost 35 Cents When Warren Buffett First Bought Shares in 1988. Here’s How Much You’d Have If You’d Invested $10,000 In Coca-Cola Stock Then.

In 1988, a can of Coca-Cola cost around 35 cents, give or take. Sources from the era put the range closer to $0.35 to $0.50 depending on whether you grabbed it from a corner store or a vending machine, and prices varied by region and container size.

That same summer, Warren Buffett quietly started building what would become one of the most famous stock positions in market history.

Buffett’s 1988 Bet

Berkshire Hathaway began buying Coca-Cola stock in the summer of 1988, continuing into 1989. By the time Buffett was done, Berkshire had poured in more than $1 billion, with commonly cited figures ranging from roughly $1.02 billion to $1.3 billion. The split-adjusted average cost basis, after four subsequent 2-for-1 stock splits, works out to approximately $2.60 per share.

Buffett’s reasoning has been recounted for decades: an unrivaled global brand, deep consumer loyalty, and a durable moat that competitors could not easily cross. He never sold a share. It remains one of Berkshire Hathaway’s longest-held and most iconic equity positions.

What $10,000 Would Have Become

Coca-Cola (NYSE:KO | KO Price Prediction) closed at $89.08 on July 29, 2026, an all-time high, up 0.92% on the day.

On share price alone, going from about $2.60 to $89.08 works out to roughly a 34.3x return. In plain English: $10,000 invested at Buffett’s approximate cost basis would be worth roughly $343,000 today, using share price only and excluding dividends.

That figure understates the real story. Coca-Cola has raised its payout every year for decades, marking its 63 consecutive years of dividend increases in its Q4 2025 report. With dividends reinvested over the roughly 38-year holding period, the total would be much higher than the price-only figure.

Where Things Stand Today

Coca-Cola’s Q2 2026 report, released July 28, 2026, beat expectations with adjusted EPS of $0.97 versus $0.93 estimated on revenue of $13.37 billion versus $13.17 billion estimated. New CEO Henrique Braun said the company the company delivered another strong quarter by staying close to the changing needs of its consumers and customers.

Analyst sentiment reflects the momentum. A consensus of 24 analysts carries a Buy rating with a 12-month price target of $94.70, roughly 7.5% above the current price. The stock trades at a 28x trailing earnings multiple and yields an annualized $2.12 per share in dividends.

The takeaway is that patience, a great brand, and a growing dividend can do a lot of heavy lifting when given decades to work.

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