Even as a billionaire, Warren Buffett has long been known for his frugal habits—starting with breakfast. On his way to the office, Buffett would swing by McDonald’s and let the stock market dictate his order. If markets were down, he’d spend $2.61 on two sausage patties. If he was feeling flush, he’d splurge $3.17 on the bacon, egg, and cheese biscuit, according to a 2017 HBO documentary.
But Buffett’s relationship with the Golden Arches went far beyond breakfast food. At the end of 1996, Berkshire Hathaway owned roughly 30.4 million shares of McDonald’s—a 4.3% stake valued at about $1.4 billion.
