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On board Drifter, the sailing yacht owned by music legend Jimmy Buffett

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In the wake of the death of music legend and yacht owner Jimmy Buffett, BOAT International looks back at his 2018 interview where he discusses his love of sailing and his adopted home of St Barths... 

Ask Jimmy Buffett about his boat and his eyes light up. The bard of the ocean is accustomed to answering questions about his music career, but it’s not every day he gets to talk yachts, he tells me with more than a hint of glee. And it’s all connected, after all. Without boats, his decades-long music career and the myriad business ventures it has birthed – from his chain of Margaritaville restaurants and hotels in two dozen locations to a Broadway musical inspired by his songbook – simply would not exist.

“I made a pretty good living with people buying my tapes and putting them on boats,” Buffett says when we meet in St Barths. He first sailed down in 1978 and “never really left” – though he splits his time between St Barths, Sag Harbor and residences in Hawaii and the Bahamas. “Back in the days before Wi-Fi and electronic charts, you only took your most precious things in the way of books and music on board. I’d meet people sailing and they always had, besides chart books, Don’t Stop the Carnival [the Herman Wouk novel about running away to the Caribbean], a Bob Marley tape and a Jimmy Buffett tape.” More than forty years ago he played at tiny St Barths bars like Le Select, a dive still known for its live music and “cheeseburgers in paradise.” He surprises fans by playing at bars where they’d least expect. During a previous Les Voiles de St Barths regatta, Buffett played an unannounced show at the race village, and the crowd of sailors went wild.

Buffett’s stage persona – son of a sailor, laid-back surfer, margarita connoisseur, amiable raconteur – isn’t an act, but exactly what you get in real life. In true island fashion, he wears shorts, a Les Voiles regatta T-shirt and baseball cap, and when I turn up at his beach bungalow/office, he’s just finishing a call with his friend, pro surfer Kelly Slater. Buffett is a surfer himself, from when he was a teenager growing up in Mobile, Alabama. “There wasn’t much surf on the Gulf Coast, we had to go find it. We’d surf hurricanes in the ship channel.” He’s over 70 now, though you’d never guess it, and surfs every day he’s in St Barths.

While most guys his age are making the move from sail to power, Buffett has downsized from a Delta 125 that was the family yacht – “a great boat, but we didn’t use it enough” – to a custom 15.24 metre motor sailer designed by Ted Fontaine , known for his modern-classic Friendship sailing yachts. But Buffett isn’t like most guys his age – he surfs, sails, pilots planes and sells out stadiums. For over 40 years he hadn't missed a summer tour, though he does things a bit differently now. He remembers traveling by bus to 250 shows per year; now he'll play a smaller number with time to scheduled in to enjoy a break in St Barths or Cat Cay.

Buffett took delivery of his boat, built at Pacific Seacraft in North Carolina, in February 2018. “It took twice as long and cost twice as much, but that’s to be expected,” he says with a chuckle. Drifter has a bright seafoam green hull, the same colour as the Alerion that Nathanael Herreshoff sailed to Bermuda. “I’m a Herreshoff guy,” he says. “I love beautifully designed, traditional boats.” This modern motor sailer is a bit of a departure for Buffett, who has been a long-time classics aficionado, owning more than a half dozen vintage sailboats from a Herreshoff Alerion to a Sparkman & Stephens Morris 36.

He used the money he made from his second studio album, A White Sport Coat and a Pink Crustacean , to buy his first boat, a Cheoy Lee Offshore 33, Euphoria . His accountant thought he was crazy, but Buffett called it an insurance policy. “I said, ‘Look, I don’t know if this music thing is going to last, but no matter what, I can sail, I can cook, and I can sing, and I know that I can live on the boat and go where I want.’” The years in the mid-1970s he spent gunkholing through the BVIs on Euphoria , and later a Cheoy Lee 48, Euphoria II , proved perfect songwriting fodder – “I wrote so many songs in that time, Please Don’t Say Mañana if You Don’t Mean It is a favorite that comes to mind.” Buffett’s discography became decidedly more nautical as he lived the life he sang about, which rings true to a large section of his fan base.

Inspiration, though, has always come from the sea. “Growing up, I read everything about the ocean, Moby-Dick , all the classics, and WH Hudson, Idle Days in Patagonia .” Buffett speaks with a soft, slow southern lilt indicative of his Alabama origins, where he was introduced to boats; truly a Son of a Son of a Sailor , as his famed song professes. “I come from a long line of sailors. My grandfather was a sailing ship captain from Newfoundland who moved to the States. My dad sailed and was a marine engineer. I grew up sailing and was a child of the shipyard.” He learned celestial navigation from his grandfather when he was a kid, and Buffett had ambitions to go to the Naval Academy – as he sings in We are the People our Parents Warned us About – but the Universe had other plans for him. “I’ve still gotten to fly off an aircraft carrier, fly the Shuttle simulator and I’m a sailing advisor to kids at the Naval Academy, so it all worked out.”

His college job was working in the shipyard as an electrician and welder, which gave him an appreciation of yacht building and earned him money to start a band. “They needed a PA system, and I had credit at the music store, so I said: ‘I’ll sign for this PA system, and that makes me the leader of the band.’” Buffett says what sailing has taught him most about life is how to be organized. “I run my band like a boat – like I’m the captain.”

Living down in St Barths, there’s plenty of opportunities for racing, but he prefers the cruising life. “I was never a heavily competitive sailor. I want to go somewhere, not just around in circles.” Though that didn’t stop him from helping 51.59 metre gaff-rigged Royal Huisman Meteor win the Bucket in 2009. Buffett was friends with her captain, Dean Maggio, and helped as a helmsman during the race, providing local knowledge of currents. He fell in love with Meteor , but when it came to building his own boat he didn’t want something quite so big or with such a deep draft. Bahamas cruising was a priority.

Buffett had seen an original Palmer Johnson motor sailer his friend had in Cat Cay. “It was a terrible sailboat – most motor sailers are – but I loved the comfort,” he says. He almost bought the boat but didn’t want to be “chasing worms” in an old wooden hull. Maggio tipped him off about the Surfari concept by Ted Fontaine, which intrigued Buffett as it was more efficient than any motor sailer – blending racing yacht performance, offshore capabilities and cruiser comfort. Fontaine is a surfer, too, and the initial sketches included surfboard storage, sealing the deal.

Maggio was Buffett’s build captain for the yacht, which is constructed in lightweight infused epoxy and carbon fiber composite materials to enhance performance. The entire rig is state of the art, with a carbon mast and boom, and sails are controlled entirely from the cockpit, designed with such ease that she could be singlehanded, but will be run comfortably with two people. She has a movable keel that can be lifted for skirting the Bahama Banks or extended for offshore sailing. She’s also sturdy, with a 9,000lb bulb.

Life on board is designed as Buffett likes it – relaxed, with an outdoor galley and a salon that opens directly out to the cockpit, and she’s stocked with plentiful toys, from surfboards to fishing rods. A nearly five metre beam, widest at aft, gives the kind of living space you’d find on a yacht that’s six metres bigger. “Even with eight people on board, she feels spacious. Dean says you have almost as much room for guests as you do on Meteor ,” Buffett says. “She moves nicely through the water and she’s so comfortable. My wife can use her for lunches off Sag Harbor.”

A rarity in the music world, Buffett has been married to his wife for more than 40 years, sailing down to the Caribbean together all those years ago. They have three grown children. “My oldest daughter likes to sail, the other two like to ride [on boats] and fish.” For now Drifter is a one-off, but could be reproduced as a semi-custom series. Fontaine’s creation got plenty of publicity when a video of Drifter sailing in the Bahamas was played on the big screen during Buffett’s Son of a Son of a Sailor tour.

Though the build took longer than expected, Buffett was distracted by an even more time-consuming project as his music was being made into a Broadway show, named Escape to Margaritaville after his biggest hit. He rewrote songs to fit the characters in the musical, which was being crafted by TV comedy writers. “It was important to me and my producer that the writers lived these songs as kids and grew up on the music,” Buffett says. “The New York Times clobbered us, but who cares? It was never meant to be the-a-ter; it’s fun!”

At this point in his life, that’s what Buffett really wants – to have some fun. “First of all, I can’t believe I made it this far. After an airplane crash [in 1994], falling off the stage [in 2011]… time is short right now, and I’m going to do the things I want to do.” His fans, known as Parrotheads, will be glad to hear this includes continuing to tour. “I love it! Who gets to do this? It’s always been about the fact that people are paying good money to see you, and you owe them a show, and I’ve gotten to live a pretty good life based on people liking what we do. There’s never any disconnect because I couldn’t do it without them. I feel very obligated, dedicated and appreciative, so there’s no reason to stop.” For those who can’t make it to a concert, it’s easy to catch up via a live broadcast on margaritaville.tv or by tuning into Radio Margaritaville on SiriusXM satellite radio. Staff at the McMurdo Station in Antarctica – a place that’s on his bucket list – even sent Buffett a recording of them listening.

Buffett also wants to give back to the places he loves. In 2017, he teamed up with Kenny Chesney and Toby Keith to play a benefit concert for Puerto Rico, and when we meet he’s about to go to the island to visit his Margaritaville Resort employees. “I’m a drop in the bucket, but I’m still going to do what I can with the people who work for us at a human level,” he says. He’s also played free fundraising concerts for St Barths post-hurricanes, encouraging fans to come down and stay at hotels, revitalizing the economy after the storms. “The people who live in ordinary houses here, those are whose homes were destroyed,” Buffett says. At one benefit concert for St Barths he expected an audience of 1,200 – and 5,000 fans showed up. “That got the French saying mon dieu!”

His next career ambition is to finish the book he’s writing – a fictionalized retelling of the recording of his 1979 album Volcano in the Caribbean . “You can’t make up the shit that happened,” he says. It’s clear that even after nearly 50 albums, Buffett still has plenty more stories to tell and adventures to live. As we’re finishing up, he remembers he’s left his surfboard down on the beach. “I gotta go get it – maybe I’ll get in the water. It’s looking like I could catch a wave.”

This feature is taken from the November 2018 issue of BOAT International. Get this magazine sent straight to your door, or subscribe and never miss an issue.

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• May 9, 2023

Jimmy Buffett's 'Last Mango' is a Yacht Rock Dream Machine

Last Mango Boatworks , the team behind the custom catamaran built for legendary singer Jimmy Buffett , has released a video depicting the boat's evolution.

The custom-built 42' Freeman was built in collaboration with Freeman Boatworks , Merritt Boatworks , and Pipewelders Marine . It was named Last Mango in homage to Buffett's 1985 country-tinged album " Last Mango in Paris ."

The hull comes courtesy of South Carolina's Freeman Boatworks, who built the one-of-a-kind platform to give Buffett additional creature comforts and performance compared to smaller boats he'd previously run. The hull was also reshaped to accommodate a custom pilothouse built by Merrit Boatworks in Pompano Beach, Florida. A custom tuna tower courtesy of Pipewelders Marine in Fort Lauderdale, Florida was added on top to make the 42-foot offshore fishing boat a truly unique vessel.

For those unaware, Buffett is a longtime boater while his music has been a staple of yacht rock playlists since the early 70's. The "Margaritaville" singer has spent his downtime aboard a number of boats over the years, most recently a 50-foot (15.25 m) Pacific Seacraft sailboat named Drifter .

But the Last Mango was several years in the making.

"So this project starts three years ago," says Scott Cothran, Director of Sales & Marketing for Freeman Boatworks. "This very educated guy named Vinny calls, very educated boat talker asking very educated questions about doing some kind of pilothouse and wanting design information. I got off the phone and looked at one of the guys I work with and said: 'that guy is fishing for information. He is a competitor. Don't answer calls from that guy.'"

That 'Vinny' was Captain Vinny LaSorsa, Buffett's longtime boatswain.

For Vinny, chauffeuring Buffett around Charleson, South Carolina four years earlier was the inspiration for reaching out to Freeman.

"So four years ago, a few of my friends had ridden on Freeman boats, and I actually saw a 33' Freeman zooming around Charleston Harbour, and they got my attention."

With Buffett's approval, LaSorsa reached out to Freeman, only to be rebuffed as the company was wary of the seemingly knowledgeable 'captain' who implied having a mysterious boss.

According to Cothran, "Then I get a phone call from one of the guys in South Florida, saying: 'you need to quit blowing this Vinny guy off.' I asked who does he work for, because he's gotta be a competitor. He knows way too much about boatbuilding and about the marine industry. And he's got some mysterious boss that clearly doesn't exist. He goes: 'his boss is Jimmy Buffett. Answer the dang phone call.'"

(Photos courtesy Captain Jimmy LaSorsa)

After confirming that LaSorsa and Buffett were indeed real, and serious buyers, Freeman began putting their team into order.

It all began with Buffett explaining his vision.

"We met Jimmy Buffett when he came to my house to talk about the build for his awesome new Last Mango," says company president Sally Freeman . "What was so great was that he bought a boat from us when he could have bought a boat from anyone in the whole wide world, and he chose a Freeman. That's pretty darn cool."

With Cothran leading the charge, and the ultra-knowledgeable LaSorsa watching over his shoulder, the growing team began allocating plans for a custom 42-foot Freeman catamaran that would utilize a pilothouse rather than a centre console.

"You don't understand the stuff that's gotta come together," says Cothran. "We gotta get with Yamaha, we gotta get with Garmin, we've gotta get JL (Audio). All these parts have gotta come together, they've gotta be perfect, and they've gotta happen very quickly. Doing a boat in record time, we've got to involve every bit of our team, our best of our best. They're gonna do it in a short amount of time, and we're still running full production on everything else. We're racking our brain trying to think of how we're going to do all this while still keeping the quality of everything along the way."

The pilothouse would prove to be one of several features requiring outside expertise. To fabricate a pilothouse for a hull that had never had one, the team added Roy Merritt of Merritt Boatworks to the mix.

"Jimmy Buffett came to us about a project," said Merritt. "I wasn't too keen on the idea, but between Vinny and Jimmy there's always a certain amount of arm twisting that goes on, if you know what I mean. When you're a builder you like doing different things, and that's what interests me. So we agreed to do it. Jimmy went ahead and purchased the boat, and we went ahead designing the pilothouse and what was going to go in it. We mocked it up, and we built it."

The final touch came from Pipewelders Marine, who added a custom stainless steel tuna tower, effectively turning the Last Mango into a fully customized offshore dream machine.

"Probably the highlight of the build was that so many people poured their heart and soul into it, and then Jimmy flies in to meet everybody at the plant," said Cothran. "It was a really cool experience. He signed stuff and hung out with everybody. It shows the common touch he has. That was fun."

"This was a great build," added Mark Hanke of Merritt Boatworks. "It was a one-off build. It's one of the projects that brought a lot of the guys together to show the quality and craftsmanship and trades, from your carpenters, to your painters, to your electricians, to your mechanics."

Captain Vinny summed it up nicely: "You're only as good as who you work with. I took an idea and a dream of Jimmy's and was fortunate to have him believe in me enough to carry out his vision. Throughout carrying out that vision we've had so many people willing to be right there for me, to help me make sure that I succeed. I don't think it can get any better than that."

You can check out the story of the Last Mango below:

#news #culture #freemanboatworks

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Jimmy Buffett's 'Last Mango' embodies the carefree, laid-back spirit of yacht rock, blending smooth melodies with a sense of adventure. The album's storytelling transports you to a world of sunny shores and endless horizons, making it a perfect listen for anyone who enjoys music that feels like a vacation. For those who want to explore the same relaxed approach in learning, check out e-learning  platforms that offer flexible, engaging courses from anywhere in the world.

From a normally educateded Canadian... Get out yer Whipper Snappin Constitutional assault weapons n complain while your joke has been/ wanna be president runs away from his perverted Anti woman/human rights sins. Sorry about speed limits n manatees you effin loser. Happy trial Trumpy McTrumpster

Jimmy Buffett sings songs of the joys of boating in Margaritaville Florida. Yet when you come to Florida you find that boating is difficult, if not illegal, throughout the state. Why? Because of a big fraud Buffett started called The Save The Manatee Club. Restricted waterway access, heavy speed zones and millions in fines for attempting to use a boat in a normal manner. All Buffett's handiwork. He doesn't care; he raises his middle finger to Florida's boaters and can take his yachts to the Bahamas where he's not affected like all of them.

Boat speed zones ? All of the actual (and promptly buried) scientific studies on manatee hearing has proven that manatees cannot hear slow moving boats and…

If that's the case, here on the north end of Broward there are many illegal signs.

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Jimmy Buffett’s Maritime Dream and Legacy

• By Capt. Karl Anderson
• March 13, 2024

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I suppose there are varying degrees of loving boats. Certainly, growing up near the water or having a heritage of seafaring people in your background doesn’t always guarantee that love, but in many cases, it is the rich stock for the gumbo of a water-loving life. And when that passion strikes, it can be so deeply ingrained that it is indeed the greatest ingredient of a truly full life. To say Jimmy Buffett was a lover of boats cannot be taken lightly.

Buffett’s longtime fishing buddy, the accomplished author and angler Carl Hiaasen, once put it into perspective, saying: “When Jimmy wasn’t on stage, he was on the water, or heading full speed to the water. He paid as much attention to the details of his boats as he did to his songs. Every line had to be just right.” Sadly, after battling skin cancer for four years, Buffett died on September 1, 2023, at the age of 76 of Merkel cell carcinoma.

A Life on the Water

Buffett was infected with a love of the sea and boats of all manner—so much so, he wanted to always live by the sea. He spent the majority of his time away from his musical pursuits on the water, sailing, surfing, fishing or just messing about on his boats.

In a recent conversation I had with his sister Lucy Buffett, she spoke so glowingly of their childhood and the threads of growing up on the Gulf Coast that were woven into her late brother’s love of boats and the sea that made up a great portion of the fabric of his life.

Buffett’s grandfather from Nova Scotia famously jumped out of a window of the family home at 13 years old to become a runaway going to sea. He became a cabin boy on a sailing ship, and the stories of his time at sea surely put dreams of travel and adventure into his grandson’s head. The sea calls many with its charms. Lucy recalls, “Our grandfather never returned home full time until he was in his 70s. Our parents both worked in the Mobile, Alabama, shipyards, building big ships. This, along with the constant dream for us kids of having a house on the water that my parents couldn’t afford, were the seeds of life around the water that were planted in us.”

As Lucy recounts, “The boating mythology has been in our family since we can remember, because we spent a lot of time on the Mississippi coast at our grandparent’s home. It was always a big deal whenever our merchant mariner grandfather Capt. Buffett came home, because he would have been gone for months and months at a time. He always returned with stories of where he had been, from all over the world. That’s the story of the song ‘The Captain and the Kid,’ and all of that was true.”

She continues, “As kids, our parents would rent a home for our vacations on Mobile Bay or at the beach, and Daddy and Jimmy would rent motorboats. Then our parents had some friends, the Kennedy engine family of Biloxi, who had a 100-foot wooden motor-yacht called Mariner II . They would go on extended trips on the boat to Tampa and the islands off the Mississippi coast. One year, Jimmy and their oldest son got to go on one summer trip as bait boys. That was the first time Jimmy was introduced to that type of leisure boating. They also had a seaplane in the 1960s, and those experiences were something Jimmy always talked about, saying, ‘Someday I’ll have one of those.’ So I think these things, along with the culture of the Gulf Coast to work hard and play hard on the water, had a huge impact on Jimmy. The first house he ever bought was for [his wife] Jane, and the second house was for my mom and dad, and it was on the water. It was their dream as well, working at the shipyard to have a house overlooking the bay. Jimmy also bought Daddy his first boat, a 17-foot Mako center-console.”

Lucy recalls, “Jimmy was always going to have some sort of boat. In Key West [Florida] in the mid- to late ’70s, it was the fascination of sailing and that romantic notion that led him to buy a little skiff with the first money he made. He then bought his first sailboat that he named Euphoria II , so that curiosity led to always having this bond with boats and being around the water. For him, there was no better place. He always had that forward-looking ability—‘What’s on the horizon?’—and he had to go do it.”

Jimmy’s Sport-Fishers

Many years and many more boats later, in 2006, Buffett owned a 42-foot Rybovich called Last Mango that he began to bring to the boatyard at Merritt’s Boat & Engine Works in Pompano Beach, Florida, for annual service and maintenance. This was the start of his long relationship with not only the yard but the Merritts as well. Over the years, there were several Buffett boats that frequently visited the yard, including the Rybovich, a 33-foot Freeman catamaran, a 42-foot Freeman cat project boat and even a sailboat—the only one to come into the yard—along with a host of support boats, including a Hell’s Bay skiff and an Albury Brothers center-console, among many others.

While still enjoying his 33-foot Freeman pilothouse boat, Buffett contracted Freeman to build a complete 42-foot hull without a console installed. If you have been anywhere near the water with an interest in boats and access to the internet, you certainly would have seen that vision of Buffett’s that came to life as a 42 Freeman with a walkaround cabin that was built and installed by Merritt’s.

As the 42’s hull and deck were being built, Buffett, along with his longtime captain, Vinnie Lasorsa, and Roy Merritt, went to work on what Buffett wanted in this next boat. Having years of experience with a vast assortment of vessels—both power and sail—Buffett had a unique vision for what would suit his needs best for his use at that time. This boat brainstorming and planning was nothing new.

Jimbo Meador, the legendary Alabama waterman and lifelong Buffett family friend and companion, told me: “Jimmy was a brilliant guy when it came to any kind of boat, electronics, navigation; he always had some kind of new idea as far as everything on the water. Whether it was fishing or designing those concepts into the boats, he was always improving what he had.”

The Freeman Project

Utilizing the boatbuilding and styling expertise at Merritt’s and the team of carpenters, glass crew, painters and mechanics, the house was built and integrated into the Freeman hull with direction and hands-on input from Buffett, Lasorsa and Roy Merritt.

Building a full-scale wood mock-up on the shop floor gave Buffett a real gauge of scale and space to make the most out of everything they could do, even down to reclining on the bunks to be sure he would be comfortable on his “camping out” fishing trips. Console layout was carefully executed to fit a host of the latest Garmin electronics and vessel-control systems. The cabin was designed for maximum storage and ample seating, and included a dinette area so Buffett, the always busy taskmaster, could work on his laptop and have a place to dine while on board. All of this was accomplished while still honoring the walk-around layout and 360-degree fishability of the boat.

The Merritt house was married to the hull and deck, allowing for electrical, plumbing and other finish work to happen, including the faux teak-painted cabin walls and ceiling beams as well as tower install, blending old-world classic boat feels with advanced composite construction and design. Freeman pulled the hull from the mold in January 2019, and the boat left Merritt’s yard just seven months later, in July—quite a task in a tight time frame, but it showed the commitment and vision by all parties to get it done. In 2009, before the boatbuilding process had even begun, Lasorsa had an idea to give back and help US military veterans. Buffett, ever the idea man, promoter and philanthropist, encouraged Lasorsa to start Freedom Fighter Outdoors. With Buffett’s endorsement and urging, they began hosting events to take injured veterans fishing in Florida and on Long Island, New York. Building Freedom Fighter Outdoors to four and five events a year has impacted the lives of those veterans who participate beyond measure. This is all done in the spirit of giving back—a testament to the spirit and heart of both men.

As is often the case, the boating disease for real boat lovers kicks in after a while, and the desire for a larger vessel or more improvements and upgrades for the current model comes along. The boat enthusiast in all of us keeps thinking and dreaming of the next thing, and soon, the bug to build a dream and create the desired platform triggers the need to build the project.

And that was the case with Buffett. He was so pleased with the Freeman catamaran with the Merritt house, he had Lasorsa set up a meeting with Merritt once again. As those meetings typically go, Buffett—who loves a unique project—pleaded his case of needing a bit more comfort, a stand-up head and shower, a stateroom with a proper berth for overnighting and a larger salon, because it comes with a bigger boat that can also handle a bit more weather.

He wanted to stay with the catamaran hull platform with Mercury outboards. He was also looking to leave a legacy in the marine industry, in which he’d been a vibrant participant for the greater part of his life. The problem: he was working with Roy Merritt, who himself has made a great success of his family business building top-of-the-line world-traveling sport-fishermen for titans of industry and a host of discerning clients. What Buffett wants is not what Merritt builds, or even wants to build. However, as Buffett recognized, these two guys have something in common besides their friendship and a true love of boats. They are both guys that have achieved great things in their respective industries. They have both kept pace with their audiences and figured out what they want and what they need.

Buffett, with Lasorsa in tow, put on his best sales pitch, and with a bit of arm twisting, he cajoled the reluctant Merritt to begin the special project. But not just to build a boat. Buffett the philanthropist and marketer envisions a situation where they start up a company that would build the boats and give back to the industry by having a technical school for training young folks in the marine trades of welding, carpentry, painting, electrical and the like, and perhaps help troubled kids with few other prospects. Buffett saw improving lives as a large part of the mission, and this is the thoughtful, ambitious, caring Buffett at his best. The dropback works, and he hooks Merritt as solidly as a perfectly pitch-baited blue marlin. All of this was done in the best of old-school partnerships with a firm handshake—no lawyers, no multipage contracts, just two friends doing business.

With the idea hatched and the basic parameters laid out, Merritt began just as he does with any new build. Having never done a catamaran hull, he enlisted the services of Michael Peters Yacht Design to create the running surface while he and his in-house team designed the layout and practical operating functions of the boat.

In order to satisfy the criteria for Buffett and have a fully functional rig with sufficient fuel capacity, a generator, a watermaker, ice makers, livewells and a host of other components that fit and can be serviced in place, all while getting the look of a finely styled classic boat, the length grew to 56 feet with a 17-foot beam.

There were a host of other considerations that were addressed during the development, such as the width of the walkaround, deck height off the water, tunnel height, major component placement in each hull, bow layout and seating, anchor locker and windlass configuration, flybridge layout, and a host of manufacturing and assembly issues that needed to be ironed out. Designed to be powered with quad 600-horsepower Mercury outboards for speed and reliability, the boat is certainly unique and fills a niche in the industry that has been missed to date. For Buffett, the inherent fishability of the walk-around layout, with a massive ­cockpit, combined with its length and beam, will make it a player on the blue water anywhere it goes. The big cat’s interior comforts, including a full-size stateroom, a large head with a shower, a spacious salon with a galley, an interior helm, a settee, a bar and a large flat-screen television, make it an ideal weekender and commuter. Topped with a spacious, beautiful flybridge, the Buffett-inspired 56 Merritt catamaran is as much a trendsetter as it is a practical fishing tool.

Read Next: Meet Roy Merritt in our exclusive interview with the legendary custom boatbuilder .

With this boat, Jimmy Buffett the visionary set the table for his marine legacy, while his trust and confidence in Merritt to build a quality boat are a testament to Merritt’s legacy and track record. With the great sadness of his passing, Jimmy Buffett’s dream will be realized, as the boat is being built as he envisioned it and wanted for his personal use, knowing that others would also see the many benefits of such a boat.

The treasured American writer Thomas McGuane spent a considerable amount of time with Buffett throughout his life as ­collaborator, friend and brother-in-law. Perhaps starting in the early ’70s ­fly-fishing for tarpon in Key West, they have logged many hours in various boats of all manner in many places far and wide. I’d say he put it best when it comes to Buffett and his love of boats and the sea when McGuane said: “I think Jimmy loved every boat that was ever born. As his knowledge of boats expanded through a lifetime of thinking about them, building and acquiring them, a day inevitably came when a boat project outlived him. Rest in peace, sailor.”

• More: Issue 280 , Merritt Boats

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STATEN ISLAND, N.Y.--( BUSINESS WIRE )-- SI Yachts , a luxury yacht dealer and broker with offices in the Northeast and Florida, has listed for sale the famous boat owned by Jimmy Buffett, LAST MANGO II.

This 42 Rybovich Spencer Sportfishing boat was custom built for the Margaritaville singer and then the mold was purposely destroyed, ensuring it would always be one of a kind.

"This is the ultimate opportunity for Jimmy Buffett fans to own something that was a big part of him and his life," says Steve Messenger, the yacht broker who has it listed. "Everyone knows about his love for the ocean, boating, fishing, and the whole lifestyle through his music. I can't imagine how awesome the feeling would be to crank up 'Volcano', with a cold drink in my hand, slow trolling in the Bahamas!"

The Buffett boat is located in Montauk, New York and is listed for sale at $999,000.

You can read the full story here: https://www.siyachts.com/yachting-news-and-events/famous-sportfishing-boat-owned-by-jimmy-buffett-listed-for-sale

About SI Yachts:

SI Yachts is one of the largest and most successful new boat dealers and yacht brokerage firms in the Northeast with offices in New York, Rhode Island, and Connecticut. SI Yachts also recently opened an office at the Jupiter Yacht Club in Jupiter, Florida. New boat brands offered at SI Yachts include Viking, Princess, Absolute, Prestige, Pardo, Valhalla Boatworks, and Scout Boats.

For more information about SI Yachts, please contact marketing director Rob Bowman at [email protected] or at (828) 282-9810.

Rob Bowman [email protected] (828) 282-9810

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Jimmy Buffett’s Next Yacht

• By Yachting Staff
• Updated: October 2, 2015

Longtime yachtsman Jimmy Buffett has ordered Hull No. 1 of the Surfari 44 by Friendship Yacht Company. She’s a scaled-down version of the builder’s Surfari 58, with an adapted design by naval architect Ted Fontaine to allow for short-handed cruising.

Pacific Seacraft in North Carolina is building Buffett’s Surfari 44, which is scheduled for delivery in November 2016. Buffett plans to use the yacht as a home away from home.

“It’s the perfect extension for living the life he enjoys, whether it’s in Sag Harbor for the summer or the Keys and the Caribbean in the winter,” Fontaine stated in a press release. “A high-performance, auxiliary-powered sailing yacht, it has as strong an emphasis on speed under sail as it does speed under power, which means it goes places.”

Among the Surfari 44’s noteworthy features is what Fontaine calls a “tailgate.” In the yacht’s renderings, it looks like an overly wide swim platform, folding out and spanning 11½ feet of the hull’s 14½-foot beam. When open, it becomes a flush-level extension of the main deck living space.

“It creates a unique, clutter-free area for storing and launching all sorts of water-sports equipment and water craft,” Fontaine said.

The Surfari 44 will be the latest yacht built for Buffett, who will turn 69 in December and continues to play for legions of Parrothead fans on tour. Over the years, he has reportedly owned as many as nine other yachts, including (on the sail side) a 26-foot sloop originally designed by Nathanael Herreshoff and a 33-foot Cheoy Lee ketch, and (on the power side) a 42-foot Rybovich and a 124-foot Delta.

Buffett seems to be an ideal owner of the Surfari 44, whose target audience is experienced yachtsmen who have honed their boating skills to near-professional levels.

“They want to go fast and get there in style,” Fontaine said, “and now that they are approaching their retirement years, their need for speed is being seasoned with a newly appreciated desire for comfort and versatility afloat.”

Follow the Surfari 44 build on Twitter: search #surfari

Learn more from Ted Fontaine: go to www.fontainedesigngroup.com

See more from Friendship Yacht Company: news is posted at www.friendshipyachtcompany.com

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BuffettNews.com

the leading authority on Jimmy Buffett

Jimmy Buffett designed pontoon boat available soon

From WBBM Radio: “ Warren Buffett tells shareholders to buy Jimmy Buffett’s boat “

In an annual letter sent Saturday , billionaire investor Warren Buffet urged Berkshire Hathaway shareholders to buy a boat designed by singer Jimmy Buffett.

“I will end this letter with a sales pitch,” said Berkshire Hathaway CEO and chairman Warren Buffett, 91, in the letter, which goes over the company’s performance from 1965 through 2021. “Jimmy Buffett has designed a pontoon ‘party’ boat that is now being manufactured by Forest River , a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains.”

This event is open only to shareholders and is scheduled from noon to 5 p.m. at the CHI Health Center in Omaha, Neb. It is part of the annual Berkshire Hathaway shareholders meeting from April 29 to Sunday, May 1.  Bazaar attendees will get a 10 percent discount.ADVERTISING

“Your bargain-hunting chairman will be buying a boat for his family’s use,” said Warren Buffett, who did not reveal the price of the pontoon. “Join me.”

Although he referred to Jimmy Buffett – a 75-year-old singer and entrepreneur known for songs such as “Margaritaville” and “Cheeseburger in Paradise” along with restaurant chains – as “cousin” in the letter, the two men are not actually related, according to results from a 23andMe DNA test. They are friends, however, and refer to each other as “Uncle Warren” and “Cousin Jimmy.”

According to CNBC, Warren gave Jimmy advice on how to grow his “Margaritaville” restaurant chain.

In addition to margaritas, cheeseburgers and music, Jimmy Buffett has long been associated with boats and sailing.

“Without boats, his decades-long music career and the myriad business ventures it has birthed – from his chain of Margaritaville restaurants and hotels in two dozen locations to a Broadway musical inspired by his songbook – simply would not exist,” said Boat International in October.

8 thoughts on “ Jimmy Buffett designed pontoon boat available soon ”

Would be nice, but no fun allowed in Ontario, Canada😎🍸🦜

Why not . Pop ron buffett in Barrie, Ont,

We’re on the Ottawa River. (Not at the moment lol), but if you keep the drinks down and the driver’s not drunk (a good idea anyways) you can get away with having a few. 😁 FINS UP !! 😁

We pontoon on the northern Mississippi River, and we blast Jimmy Buffett music all day on the river!!

about time he took some advice from jimmy…buffett..love that there both financial wizards at total different ends of the spectrum.

Maybe Warren will buy me the pontoon boat!😁 Perfect for the salt pond i live on in RI!

I love the radio feature on the boat. Only one channel. Channel 24. You only need one channel. Also, love the autopilot that allows you to keep it between the navigational beacons. The Fridge is full of Boat Drinks! Bring it on Jimmy!

If you build it . . . they will come. Finz & Cheers

Comments are closed.

Warren Buffett called his private plane 'The Indefensible' - then rebranded it to 'The Indispensable' after seeing its value

• Warren Buffett bought his first private jet in 1986, then switched to a far pricier one in 1989.
• The investor and his business partner, Charlie Munger, disagreed over spending so much on travel.
• Buffett renamed "The Indefensible" as "The Indispensable" after seeing the plane's value.

Warren Buffett may rank among the wealthiest people on the planet, but he's famously frugal when it comes to spending money . The billionaire investor and Berkshire Hathaway CEO initially balked at the idea of owning a private jet, but ultimately embraced the luxury and convenience.

A triumph over thriftiness

Buffett was riding high in 1986 after growing Berkshire's net worth by over $600 million or 48% the previous year . He called up Walter Scott Jr. , a fellow executive and longtime friend, to ask how he could possibly justify buying a plane for himself.

"Warren, you don't justify it, you rationalize it," Scott replied. Buffett followed his advice and "sheepishly" spent $850,000 on a used Falcon 20 jet, author Alice Schroeder wrote in "The Snowball: Warren Buffett and the Business of Life."

Buffett wrestled with the ostentatious purchase because it clashed with his upbringing and self-image. He was so miserly that when The Washington Post's publisher and his close friend, Katharine Graham, asked him for a dime to make a phone call at the airport once, he pulled out a quarter and started rushing off to get change. She eventually convinced him to let her squander 15 cents.

"For Buffett, it was like leaping in one bound over Mount Kilimanjaro to go from justifying 25 cents for a phone call to rationalizing two pilots and an entire airplane to carry him around like a pharaoh on a litter," Schroeder said in her biography of the investor.

Yet Buffett swiftly embraced the high life. He sold the first jet and splurged $6.7 million on a different used jet in 1989, he admitted in his yearly letter to Berkshire shareholders. He joked they might "understandably panic" if the cost of upgrading the plane kept multiplying like bacteria, as it wouldn't be long until Berkshire had its entire net worth wrapped up in a single aircraft.

"Charlie doesn't like it when I equate the jet with bacteria; he feels it's degrading to the bacteria," Buffett quipped, referring to his business partner, Charlie Munger.  He also revealed the nickname they had chosen for the uncharacteristic indulgence: "The Indefensible."

Buffett poked fun at his hypocrisy in his 1992 letter , framing his purchase as a display of "uncharacteristic flexibility."

"For years, I argued passionately against corporate jets," he said. "But finally my dogma was run over by my karma."

Planes and buses

Buffett may be a fan of luxury travel, but Munger considers it frivolous.

"The back of the plane arrives at the same time as the front of the plane, invariably," Berkshire's vice-chairman said at the 1994 shareholder meeting.

"His idea of traveling in style is an air-conditioned bus, a luxury he steps up to only when bargain fares are in effect," Buffett teased Munger in his 1989 letter .

The investor noted in his 1990 letter that if he died the next day, Berkshire's earnings would jump by $1 million annually as Munger would immediately sell the company plane.

Moreover, when Buffett was asked at the 1994 meeting if a new cross-country service would spur him to cut back on private flights, he jokingly accused Munger of hiring the audience member to shame him.

"This is a question planted by Charlie," he said, before underscoring how much he enjoys the plane.

"I take it to the drugstore at the moment," he said. "It's just a question of when I start sleeping in it at the hangar."

Buffett ultimately overcame his qualms and championed the plane's value, rebranding it as "The Indispensable."

Read more: 'Richer, Wiser, Happier' author William Green breaks down the 3 key traits that have fueled Warren Buffett's success, and explains why they're so important for investors

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Which Rolex Watch Does Warren Buffett Wear?

There’s something extremely satisfying when a watch perfectly matches its wearer’s personality. The hardboiled charisma of Steve McQueen found its ideal counterpart in the Rolex Submariner, while the sophisticated insouciance of the first generation Daytona was basically made for its contemporary, Paul Newman. Away from the silver screen though, what would be the wholly apt wrist wear for the “Oracle of Omaha” – the world’s most successful investor and seventh richest man on the planet – Warren Buffett?

Known for his prudent, down-to-earth lifestyle, despite an estimated fortune of around $78.9 billion (as of August 2020), Warren Buffett doesn’t have a Rolex collection. However, Warren Buffett does wear  a Rolex, and that model is (of course) the Rolex Day-Date .

The Rolex Day-Date Collection

Day-Date Key Features:

Case Diameter: 36mm; 40mm;

Materials: 18k Gold (White, Yellow, or Everose); 950 Platinum

Functions: Time w/ Running Seconds + and Day and Date Displays

Dial: Wide Range of Colors and Materials.

Bezel: Fluted; Smooth; Gem-Magnification Lens

Crystal:  Sapphire w/ Cyclops Crystal

Movement: Caliber 3255

Water Resistance: 100 meter / 330 feet

Bracelet: President Bracelet

Price Range: $33,150-$75,000+ (New); $7,000-$100,000+ (Pre-Owned)

Click here for our Ultimate Buying Guide on the Rolex Day-Date.

Who is Warren Buffett?

Born in Omaha, Nebraska in 1930, as the son of an investor and politician, it was perhaps  slightly predetermined that Warren Edward Buffett was going to make the world of high finance his home. He showed signs of a prodigious mathematical ability from an early age, being able to add large columns of numbers in his head as a schoolboy, and he would go on to make his first investment at age 11.

By age 13, he had already embarked on his debut entrepreneurial venture when he started selling his own horse-race-betting tips sheet, along with delivering newspapers, magazines, and golf balls door-to-door. During his high school years, he invested in a business owned by his father and at age 14, he purchased a 40-acre farm worked by a tenant farmer. Later into his school years, he bought second-hand pinball machines and installed them in a number of local barbershops, then sold the business for a profit when he went to college.

By the time he had earned a Master of Science in Economics from Columbia University in 1951 (at just 20-years of age), Buffett had already earned almost $10,000 from his fledgling companies (the equivalent of more than $100,000 today). It would take just a little more than another decade for him to have turned that into his first million.

Already a millionaire by 1962, and adept at identifying and investing in undervalued firms, Buffett started buying shares in a textile manufacturer called Berkshire Hathaway. By 1965, he had assumed control of the company and moved it away from manufacturing and instead started to acquire stock in media giants such as The Washington Post and, later, ABC. The insurance conglomerate, GEICO and oil corporation, Exxon were also high profile early investments.

From there, Buffett has continued a stratospheric rise in the industry, officially becoming a billionaire by 1990 and reaching almost mythic status. Recognized as a truly great storyteller, Berkshire Hathaway’s annual shareholder meetings are referred to as the “Woodstock of Capitalism” – with more than 20,000 people from all over the world flocking to hear Buffett’s address – a mix of elite business debate and folksy, Midwestern humor.

Today, Buffett stands to be acknowledged as one of the most philanthropic individuals of all time, vouching to donate his entire fortune to good causes – the largest single act of charitable benevolence in U.S. history – as well as forming The Giving Pledge with Bill Gates, which looks to recruit more of the ultra wealthy to donate their riches too.

How Does the Man Who Has Everything Tell the Time?

Raised Presbyterian, perhaps the only thing Buffett is known for as much as his prowess as an investor is his frugal lifestyle. Famously, he still lives in the same five-bedroom, stucco house in Omaha he bought in 1958 for $31,500, mainly because it is only five minutes away from his office.

His favorite local restaurant is Gorat’s Steak House, where the 6oz sirloin open-faced sandwich sets Buffett back about $9. (He reportedly eats exactly 2,500 calories a day; no more, no less). He finally upgraded to an iPhone in 2020, after being content with a Nokia flip-phone for at least the last 10-years, and he is known to purchase hail-damaged cars and drive them until they are, in his own words, “embarrassing.” So, between being born into the generation who expected things to last, plus having done fairly well for himself financially, really the only choice Buffett had when it came time for a watch was the Rolex Day-Date.

He is rarely seen without the yellow gold 36mm Rolex President on his wrist, complete with a silver dial and fluted bezel. It has never been disclosed which exact generation of the model he wears, but it has been said that he has worn the same exact one for decades now. Based on the numerous photos of him wearing the watch, the model appears to be an example from one of the older generations with 5-digit reference numbers, either the ref. 18038 or ref. 18238.

Warren Buffett’s Rolex definitely has a sapphire crystal on it immediately ruling out all of the older 4-digit reference models, as the ref. 1803 and all Day-Date watches before it featured acrylic crystal. From there, identifying which 36mm Rolex President he owns becomes quite a bit more difficult, but based on the shape and finish of the lugs, it likely is one of models from the 5-digit series, as the following 6-digit generation features slightly broader lugs with a full high-polish finish. This is also supported by the fact that he has reportedly owned the same Rolex President for several decades now.

It is no secret that one of the keys to Buffett’s incredible success is generally only investing in companies whose products he likes and uses. Buffett remains perhaps the largest stakeholder in Coca Cola for just that reason and he has also tried (unsuccessfully) to purchase Rolex in the past and add it to his remarkable portfolio.

Rolex S.A. is actually a bewildering collection of separate companies, some of which seem to own parts of each other. Additionally, it is wholly under the control of the Hans Wilsdorf Foundation, which is recognized by the Swiss government as a charitable trust, and so it pays no corporate income taxes. As a result, Buffett’s offer of a buyout was politely refused, but as the man himself says, “They know my phone number.”

Why the Rolex Day-Date President?

Released in 1956, the Rolex Day-Date immediately replaced the Datejust as the brand’s flagship collection of watches. Unapologetic in its exclusivity, the watch has only ever been crafted from precious metals; either 18k solid gold or the noblest of them all, platinum. The first of its kind to display both the date and the day of the week spelled out in full, it was an instant hit and became a must-have for world leaders and captains of industry.

Numerous United States Presidents have owned and worn Rolex Day-Date watches, and it is this association that has resulted in the model’s universally recognized “Rolex President” nickname. However, it is Lyndon B. Johnson who is attributed as the first Commander-in-Chief to wear one, the model known forever afterwards (unofficially) as the President.

The “President” name is not one that Rolex has ever officially used to describe the watch itself, although it is the actual, formally-given name for the Day-Date’s signature bracelet. A three semicircular-linked band, crafted in the same luxurious metal as the rest of the piece, the Rolex President bracelet was created especially for the launch of the Day-Date in 1956.

Over the years, the Rolex President’s fan base has broadened, helped along by the watch’s chameleonic nature. A wide ranging selection of different bezel and dial options has been added to cater to tastes as diverse as possible, and these days it has become the number one choice for people at the top of almost every field. Today, you are just as likely to see one on the arm of a heavyweight champion or hip hop mogul as you are a somber high-level bureaucrat.

Buffett’s example is actually one of the least showy and most traditional, as you might expect. Yellow gold falls in and out of fashion in different eras, but it is always present. Something about his general demeanor suggests that Buffett bought his Rolex President in the 1980s when he first made it big and he has looked after it and held onto it ever since.

Who Wears What Watches?

In truth, many of Warren Buffett’s Masters of the Universe financial colleagues have particularly low-key tastes with their watches as well. For example, Larry Fink, the chairman and CEO of BlackRock – the largest investment fund in the world – wears a Tag Heuer Grand Carrera as he oversees the $5 trillion that his company manages. The same model can often be found for around $4,500 on the pre-owned market .

Stephen A. Schwarzman, the Chief Executive of the Blackstone Group, who has a personal net worth of over $18 billion, is content with a simple quartz-powered Swatch. The cost of that watch: approximately $100. Meanwhile, David Solomon, the President and co-COO of Goldman Sachs, chooses to buy American with his $750 Shinola Runwell Chronograph. Those are, at least, the watches with which they have been pictured. What they have in the vault at home we can only imagine.

With that in mind, Warren Buffett does genuinely seem to be a one watch man. Nearly every photo you will find of him will have the exact same watch on his wrist, and if you are going to go through your whole life accompanied by the same timepiece, what better choice than the Rolex Day-Date?

About Paul Altieri

Paul Altieri is a vintage and pre-owned Rolex specialist, entrepreneur, and the founder and CEO of BobsWatches.com. - the largest and most trusted name in luxury watches. He is widely considered a pioneer in the industry for bringing transparency and innovation to a once-considered stagnant industry. His experience spans over 35 years and he has been published in numerous publications including Forbes, The NY Times, WatchPro, and Fortune Magazine. Paul is committed to staying up-to-date with the latest research and developments in the watch industry and e-commerce, and regularly engages with other professionals in the industry. He is a member of the IWJG, the AWCI and a graduate of the GIA. Alongside running the premier retailer of pre-owned Rolex watches, Paul is a prominent Rolex watch collector himself amassing one of the largest private collections of rare timepieces. In an interview with the WSJ lifestyle/fashion editor Christina Binkley, Paul opened his vault to display his extensive collection of vintage Rolex Submariners and Daytonas. Paul Altieri is a trusted and recognized authority in the watch industry with a proven track record of expertise, professionalism, and commitment to excellence.

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It’s no secret that private jets are a lightning rod for climate campaigners. As you know, Sentinel Aviation would be the first to cheer the day we have zero carbon aviation. However, the industry is getting a powerful endorsement from the person behind its biggest player.

Warren Buffet was speaking at Berkshire Hathaway’s annual shareholders meeting and responding to a question about the boss of his private aviation company, Adam Johnson.

Of the NetJets CEO since 2015, he said, “Adam Johnson has performed; you can’t believe what he’s done with the business.” He added, “It was a tough model for a long time, but [Johnson] has brought it where it is, and we should have a wonderful company forever.”

In fact, in 2009, hamstrung by the Financial Crisis, NetJets posted a $711 million loss. NetJets currently has a backlog of customer orders backed by nonrefundable deposits that stretch well into 2024. If you are worried about the cost of flying privately, the Oracle of Omaha spoke to that point as well during what’s dubbed Woodstock for Capitalists.

As Buffett told the audience, “Your heirs are paying for it…Find me anybody whose estate came in less than zero because of what they spent on NetJets…let me know. I haven’t seen a case yet.”

Buffett’s views on aviation, in general, hasn’t always been glowing He wrote of the industry in Berkshire’s 2007 annual report, “Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.”

Warren Buffett may rank among the wealthiest people on the planet, but he’s known for his frugal habits and modest lifestyle. The billionaire investor and Berkshire Hathaway CEO initially balked at the idea of owning a private jet, but ultimately embraced the luxury and convenience.

Warren Buffett nicknamed his private jet ‘The Indefensible’ – then renamed it ‘The Indispensable’ after realizing its value.

A triumph over thriftiness Buffett was riding high in 1986 after growing Berkshire’s net worth by over $600 million or 48% the previous year. He called up Walter Scott Jr., a fellow executive and longtime friend, to ask how he could possibly justify buying a plane for himself.

“Warren, you don’t justify it, you rationalize it,” Scott replied. Buffett followed his advice and “sheepishly” spent $850,000 on a used Falcon 20 jet, author Alice Schroeder wrote in “The Snowball: Warren Buffett and the Business of Life.” Buffett wrestled with the ostentatious purchase because it clashed with his upbringing and self-image. He was so miserly that when The Washington Post’s publisher and his close friend, Katharine Graham, asked him for a dime to make a phone call at the airport once, he pulled out a quarter and started rushing off to get change. She eventually convinced him to let her squander 15 cents.

“For Buffett, it was like leaping in one bound over Mount Kilimanjaro to go from justifying 25 cents for a phone call to rationalizing two pilots and an entire airplane to carry him around like a pharaoh on a litter,” Schroeder said in her biography of the investor.

Yet Buffett swiftly embraced the high life. He sold the first jet and splurged $6.7 million on a different used jet in 1989, he admitted in his yearly letter to Berkshire shareholders. He joked they might “understandably panic” if the cost of upgrading the plane kept multiplying like bacteria, as it wouldn’t be long until Berkshire had its entire net worth wrapped up in a single aircraft.

“Charlie doesn’t like it when I equate the jet with bacteria; he feels it’s degrading to the bacteria,” Buffett quipped, referring to his business partner, Charlie Munger. He also revealed the nickname they had chosen for the uncharacteristic indulgence: “The Indefensible.”

Buffett poked fun at his hypocrisy in his 1992 letter, framing his purchase as a display of “uncharacteristic flexibility. For years, I argued passionately against corporate jets,” he said. “But finally my dogma was run over by my karma.”

Planes and buses Buffett may be a fan of luxury travel, but Munger considers it frivolous. “The back of the plane arrives at the same time as the front of the plane, invariably,” Berkshire’s vice-chairman said at the 1994 shareholder meeting.

“His idea of traveling in style is an air-conditioned bus, a luxury he steps up to only when bargain fares are in effect,” Buffett teased Munger in his 1989 letter. The investor noted in his 1990 letter that if he died the next day, Berkshire’s earnings would jump by $1 million annually as Munger would immediately sell the company plane.

Moreover, when Buffett was asked at the 1994 meeting if a new cross-country service would spur him to cut back on private flights, he jokingly accused Munger of hiring the audience member to shame him. “This is a question planted by Charlie,” he said, before underscoring how much he enjoys the plane.

“I take it to the drugstore at the moment,” he said. “It’s just a question of when I start sleeping in it at the hangar.” Buffett ultimately overcame his qualms and championed the plane’s value, rebranding it as “The Indispensable.”

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'money has no utility to me': warren buffett says having more houses or a boat means nothing to him — here's 1 thing he values more than money and how you can use it, too.

Warren Buffett, one of the richest men on the planet, once said: “Money has no utility to me. Time has utility to me.”

In a 2016 interview on Bloomberg’s The David Rubenstein Show: Peer-to-Peer Conversations, the Berkshire Hathaway chairman said if there were anything on his bucket list, he would have done it already.

“Money in terms of making trips or owning more houses or having a boat or something — it has no utility to me whatsoever.”

That's quite a statement coming from a man whose net worth, at last check, was sitting at more than $100 billion .

But Buffett insisted that what he truly values is the time he has left.

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Aged 86 and still working hard at the time of the interview, Buffett chuckled at the idea of doing things many people his age do such as relax, play shuffleboard and enjoy retirement .

“They spend all week planning their haircut, usually,” he laughed. “I get to do, everyday, what I love with people that I love. It doesn’t get any better than that.”

The business juggernaut admitted his greatest pleasures in life are running his business, making winning investments and, of course, spending time with his family.

He said he views his life-long enterprise Berkshire Hathaway “like a painter regards a painting — the difference being that the canvas is unlimited. There’s no finish line at Berkshire and it’s a game that you can continue to play.”

Winning at the game of life doesn't necessarily mean you have to earn billions and run a business empire like Buffett. Here are some other ways you can turn time to your advantage.

Money can buy you time

Buffett said “money has no utility” for him, but he understands how it does for the average American who might not want to work until they’re 93 years old like him.

If you save and invest your money wisely during your working life — by making the most of high-interest saving accounts, tax-advantaged investment accounts, like a 401(k) or an individual retirement account (IRA), and diversifying your investment portfolio with traditional stocks and bonds and real estate — you can set yourself up for success in retirement.

Ideally, that means you can enjoy free time in your golden years to do the things you love with the people you love.

Read more: 'It's not taxed at all': Warren Buffett shares the 'best investment' you can make when battling inflation

Buffett said he wasn’t interested in owning multiple houses or a boat, but if that’s how you enjoy spending your free time — chilling at a lake house and taking your grandkids out for a spin on the water — money can make that possible. Likewise, it can help you to retire early and give you confidence that you have the means to live comfortably in your later years.

What’s more, if you’ve planned your finances so that you can retire early and live off your savings and any dividends, that may also mean you can delay taking Social Security, which means that you’ll receive higher monthly payments when you do eventually start claiming benefits — with the maximum amount available to those who start age 70 or older.

It’s easier said than done to set yourself up for a long, successful and financially fruitful retirement, but there are ways you can put your money to work so that you don’t have to in later life.

Give your investments time to grow

During the 2016 interview with Rubenstein , Buffett also said: “My life has been a product of compound interest.”

Simply put, the earlier you can start investing, the better off you’ll be, because you can reap the benefits of compound interest. Essentially, it gives you interest on top of interest, so your deposits pile up interest, and the interest piles up interest, too.

Here’s an example of how it works. Let’s say you invest $100,000 in a fund or account that delivered an average annual growth rate of 10.15% over a certain period of time.

Using that 10.15% figure, your $100,000 investment would grow to $110,150 in one year. The year after that, your shares would be worth $110,150 X 1.1015 = $121,330. The year after that, $133,645 and so on. As you can see, when you earn interest on your interest, that can lead to exponential growth over time — and you can speed up that process even further by reinvesting any dividends that you earn.

Keep in mind, however, that the market fluctuates and you will not get the same rate of return every year.

Buffett is a true advocate of the power of compound interest. As a renowned value investor, he’s known for his buy-and-hold strategy — often holding onto stocks for decades and watching them grow.

You don’t have to be an investing mastermind like Buffett to make the most of compound interest, and you don’t have to invest large sums of money to reap the benefits.

What to read next

Thanks to Jeff Bezos, you can now cash in on prime real estate — without the headache of being a landlord. Here's how

Worried about the economy? Here are the best shock-proof assets for your portfolio. (They’re all outside of the stock market.)

Rising prices are throwing off Americans' retirement plans — here’s how to get your savings back on track

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

10 Stocks Warren Buffett Just Bought and Sold

The Oracle of Omaha made news recently by unloading half of Berkshire Hathaway's Apple stock and buying into Ulta Beauty.

Stocks Buffett Just Bought and Sold

Investors get a peek behind the scenes with the highly anticipated Berkshire Hathaway quarterly filings.

What stocks has Warren Buffett bought and sold lately? Each quarter, all fund managers with at least $100 million in assets must publicly disclose their stock holdings to the U.S. Securities and Exchange Commission via form 13F, giving investors a rare peek behind the curtain of some of the world's largest and most successful hedge funds.

One of the most anticipated quarterly filings comes from Buffett and his $980 billion company Berkshire Hathaway Inc. (ticker: BRK.A , BRK.B ). Here's a look at 10 changes the Oracle of Omaha made to Berkshire's portfolio in recent months:

*As of Aug. 14 13F filing covering Q2. **Filed in July-August via Form 4.

Sold: Apple Inc. ( AAPL )

The biggest change Buffett made to Berkshire's portfolio in the second quarter was cutting his largest stock position roughly in half. Berkshire sold 389.3 million shares of Apple stock, bringing its total number of shares down to an even 400 million. Buffett has not given a public explanation for the Apple sale, but he may have given investors a clue that he's done selling. Buffett has held exactly 400 million shares of Coca-Cola Co. ( KO ) stock since 1994 without selling a single share. Even after the sale, Berkshire's $90.6 billion remaining Apple stake is its largest by far.

Sold: Bank of America Corp. ( BAC )

In filings separate from Berkshire's quarterly 13F, Buffett revealed that he has been aggressively selling another top holding in recent weeks – Bank of America. Beginning in July, Berkshire filed a series of Form 4 disclosures for sales of Bank of America stock totaling about 100 million shares. As of Aug. 19, Berkshire still holds about 928.4 million shares of BAC stock worth about $36.9 billion. Buffett first invested in Bank of America back in 2011 during the European debt crisis, but he has exited or dialed back his exposure to several bank stocks in recent years.

Sold: Snowflake Inc. ( SNOW )

Buffett has historically shied away from high-profile initial public offerings , but he made an exception by investing in Snowflake's 2020 IPO. Roughly four years later, Buffett fully exited his position, dumping all 6.1 million shares of his SNOW stock. The Oracle of Omaha may now wish he had stuck to his rule of thumb to avoid IPOs. Berkshire likely made a modest profit on its Snowflake investment. However, Buffett was most certainly hoping for a better return.

Sold: Chevron Corp. ( CVX )

Buffett first invested in U.S. oil major Chevron in the fourth quarter of 2020. Buffett sold Chevron shares in the first and second quarters of 2021, but a global energy crisis and Russia's invasion of Ukraine sent crude oil prices soaring to 13-year highs in 2022. In response, Buffett added to his Chevron investment in the first three quarters of 2022 but has since pivoted back and forth between buying and selling. In the second quarter, Berkshire sold about 4.3 million CVX shares, bringing Buffett's stake down to 118.6 million shares worth about $17.7 billion.

Bought: Occidental Petroleum Corp. ( OXY )

Occidental Petroleum is one of the largest U.S. oil and gas companies. Buffett has held a stake in Occidental since Berkshire helped bankroll Occidental's $38 billion acquisition of Anadarko Petroleum back in 2019. Berkshire's Occidental stake has grown to about 255.2 million shares worth about $14.8 billion, making OXY stock one of Buffett's six largest stock holdings. Berkshire also reportedly holds $10 billion of Occidental preferred stock and warrants to buy $5 billion of OXY shares at $59.62 each. Berkshire now owns about 28% of Occidental and has regulatory approval to acquire up to 50%.

Sold: Capital One Financial Corp. ( COF )

Capital One Financial is a large, diversified financial services holding company that provides consumer and commercial banking products and is one of the largest credit card issuers. Buffett also holds large stakes in Visa Inc. ( V ), Mastercard Inc. ( MA ) and American Express Co. ( AXP ), but he reduced his stake in Capital One by about 21% in the second quarter. Berkshire first bought Capital One shares in the first quarter of 2023, and Capital One's total return has outpaced the S&P 500's since the beginning of 2023. Berkshire still owns 9.8 million shares of COF stock worth about $1.4 billion.

Bought: Ulta Beauty Inc. ( ULTA )

Ulta Beauty is one of the largest U.S. beauty retailers, providing salon services and selling fragrance, cosmetic, skin care and hair care products. Most quarters, Buffett takes at least one or two surprising new stakes. In the second quarter, Ulta was his largest brand new stake. Ulta appears to be a classic Buffett value investment . The stock is trading at about 15 times forward earnings. It also has a popular, well-established brand in the beauty business and has a healthy balance sheet. Berkshire has acquired 690,106 shares of Ulta stock worth about $261.8 million.

Bought: Chubb Ltd. ( CB )

Chubb is the world's largest publicly traded property and casualty insurance company. Buffett took a massive new stake in Chubb in the first quarter of 2024, adding to his sizable exposure to the insurance industry. He continued buying Chubb shares in the second quarter, adding another 1.1 million shares and bringing Berkshire's total investment up to more than 27 million shares worth roughly $7.4 billion. Berkshire's investment represents about a 6.5% ownership stake in Chubb. Chubb's stock has generated about a 21% total return this year, suggesting Buffett's investment has paid off so far.

Bought: Heico Corp. ( HEI )

The other brand new holding Berkshire disclosed in the second quarter is aerospace and defense company Heico. Heico produces replacement parts for aircraft engines and specialized electronic equipment for military and spacecraft applications. Heico would potentially benefit from an aging fleet of commercial aircrafts that need replacement parts. Or Buffett may be betting on an increase in global geopolitical tensions and military spending. He may also be adding some defensive positions to Berkshire's portfolio in an uncertain macroeconomic environment. Whatever the reason, Berkshire has purchased more than 1 million shares of HEI stock worth about $201 million.

Sold: Paramount Global ( PARA )

Paramount Global is a global entertainment company formed from the merger of Viacom and CBS in 2019. The company owns Paramount Pictures TV and movie studios, TV networks such as CBS and Comedy Central, and streaming platforms Paramount+ and Pluto TV. Berkshire first invested in Paramount in the first quarter of 2022, and Paramount shares are down about 62% since the beginning of 2022. Berkshire has been cutting its Paramount losses since the fourth quarter of 2023. In the second quarter, Berkshire dumped all of its remaining 7.5 million or so shares, completely exiting its Paramount investment.

Top Ray Dalio Stocks for 2024

Brian O'Connell May 16, 2024

Tags: money , investing , stock market , Warren Buffett , Berkshire Hathaway , Apple Inc. , Bank of America , Snowflake , Chevron , Occidental Petroleum Corp , Capital One , Ulta Salon, Cosmetics & Fragrance, Inc. , Chubb Ltd

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MrBeast, Logan Paul, KSI Team Up To Launch Lunchly, Take On Lunchables — And Warren Buffett

Zinger key points.

• Lunchables now has direct competition from MrBeast, Logan Paul and KSI.
• These founders of Feastables and PRIME team up on a new ready-to-eat offering called Lunchly.

Content creators MrBeast, Logan Paul and KSI have teamed up on a new food company called Lunchly that is taking on the well-known ready-to-eat Lunchables brand.

What Happened: Food giant Kraft Heinz Co KHC may have trouble ahead for its Lunchables brand with Lunchly now in direct competition.

Lunchly was launched with the "goal of revolutionizing lunch" and providing a focus on quality ingredients, delicious flavors and healthier options for the grab-and-go lunch sector, the creators said.

There are three Lunchly meal options at launch: Turkey Stack ‘Ems, Pizza and Fiesta Nachos. Each meal comes with a PRIME hydration drink and a Feastables bar. PRIME was launched in 2022 by Paul and KSI; Feastables was also launched that same year by MrBeast.

Paul said Lunchables has dominated the lunch grab-and-go market for years and Lunchly will provide a "better option" for people looking for convenience and healthy options.

Lunchly products will hit stores later this month. A search on the company's website showed Kroger Co KR locations as stores that will carry the products.

MrBeast said Lunchly will provide healthier and "better-tasting options.

"Lunchly is all about giving kids a fun, grab-and-go meal that's not just delicious, but also good for them. We're here to change what lunchtime looks like for the next generation," MrBeast, aka Jimmy Donaldson , said.

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• Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool

Why It's Important: With three of the most widely followed names in content creation and people popular with the younger generation today, Lunchly could present a major challenge to Lunchables.

The news also comes at a bad time for Lunchables, which said in August that it was ready to offer Lunchables in school cafeterias with a potential $25 billion opportunity.

MrBeast is the most followed person on YouTube with 315 million followers. PRIME has been one of the fastest growing beverages since it launched, hitting the one billion units sold milestone in November.

Existing distribution deals that Feastables and PRIME have in place could help the company quickly land in retailers globally.

Bad news for Lunchables could also be bad news for billionaire Warren Buffett. Berkshire Hathaway Inc BRK BRK owns over 325 million Kraft Heinz shares and more than 25% of the company.

• Patrick Mahomes Signs With Logan Paul-Backed PRIME Drink Company: Why This Could Be Bad News For Coca-Cola And Pepsi

Photos: MrBeast, Logan Paul, KSI via Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Warren Buffett's $13 billion bet on Occidental Petroleum turns sour as oil prices hit a 3-year low

• Occidental Petroleum shares have dropped 29% since mid-April, impacting Warren Buffett's stake in the company.
• The decline aligns with a 23% drop in crude oil prices on concerns about demand and excess supply.
• Berkshire Hathaway's $13 billion stake in Occidental Petroleum may be underwater, based on estimates.

A steady decline in oil prices this year has led to one of Warren Buffett's big stock bets to turn sour.

Shares of Occidental Petroleum have plunged 29% since mid-April and are down 15% year-to-date, trading just above the $50 level on Thursday at 10:04 a.m.

The price decline in Occidental shares has coincided with a 23% decline in crude oil prices since mid-April.

Oil has been under pressure due to demand concerns tied to a cooling US economy and excess supply thanks to record production by US oil firms.

The sharp decline in Occidental Petroleum stock is a blow to Warren Buffett's Berkshire Hathaway , which has been amassing a stake in the oil producer since early 2022.

Buffett went on a buying streak of Occidental Petroleum in June, purchasing millions of shares around the $60 level. The conglomerate owns a 29% stake in the oil company, worth about $13 billion.

The $55-$60 level has acted as a floor for Occidental Petroleum stock since Buffett started buying it in 2022, but for the first time in more than two years, that floor has been taken out.

The hedge fund tracking website HedgeFollowe estimates that Berkshire Hathaway paid an average price of $51.22 for its stake, which is about 1% above the stock's current price.

To be clear, the average price Berkshire Hathaway paid for its Occidental Petroleum stake is only known by Berkshire Hathaway itself.

Another sign that Berkshire Hathaway's Occidental Petroleum bet is souring is based on the warrants it owns to purchase additional shares.

Chris Bloomstran, fund manager of Semper Augustus and longtime investor in Berkshire Hathaway, told Business Insider that Buffett owns warrants to buy another 83.5 million shares of Occidental Petroleum at a strike price of $59.62, which is nearly 20% above the current price.

As to whether Buffett will take advantage of the recent dip in Occidental Petroleum shares and buy, it's possible, according to Bloomstran, but he won't take over the company.

"I wouldn't rule out a purchase of additional shares," Bloomstran said, highlighting that the conglomerate has plenty of "firepower" given its recent sales of Apple and Bank of America stock.

"Warren has said he won't buy the whole company and I don't think he'll change his mind on that," Bloomstran added.

Buffett likely wants to see Occidental Petroleum initiate a stock buyback program of its shares, according to Bloomstran, but Occidental CEO, Vicki Hollub, said the company wouldn't do that until it's paid down a big chunk of its outstanding debt.

On Occidental Petroleum's latest earnings call, Hollub said the firms wants to pay down its debt to $15 billion before initiating a stock buyback, which could be "doable by the end of 2026 or first of 2027."

If you enjoyed this story, be sure to follow Business Insider on Microsoft Start.

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2 Warren Buffett Dividend Stocks to Buy in September

September 10, 2024 — 04:25 am EDT

Written by John Ballard for The Motley Fool  ->

Warren Buffett has developed a reputation over the past several decades for being one of the greatest investors ever. Since he took over Berkshire Hathaway in 1965, his capital allocation skills helped drive that company's share prices up by 4,384,748% (as of the end of 2023).

Buffett made his reputation by executing a long-term investing style . He invests in companies that have durable competitive advantages and attractive return prospects because they, in part, trade at reasonable valuations. These qualities are also the ones you should look for when investing in stocks for passive income.

Here are two outstanding companies included in Berkshire Hathaway's $284 billion stock portfolio that should be able to keep growing their dividends for many years.

1. Coca-Cola

Coca-Cola (NYSE: KO) is a resilient brand that has paid growing dividends for more than half a century. It sees further opportunities to squeeze more revenue growth out of developed markets, which points to more dividend increases.

Coca-Cola manages to generate solid adjusted revenue growth despite weak sales volumes in North America. While unit case volume in North America declined by 1% year over year in Q2, volumes increased solidly in the Latin America and Asia Pacific regions, which speaks to the beverage company's opportunities to gain share in international markets.

The brand has been resilient during the inflationary environment. Most of the company's adjusted revenue increase of 15% year over year last quarter was attributable to its price hikes, which suggests healthy demand for its brands.

Of course, all of this helps fuel the company's earnings growth and dividend increases. Coca-Cola's adjusted earnings grew 17% year over year last quarter, and it paid out 58% of those earnings -- $0.485 per share -- in dividends. The company has increased its dividends annually for 62 consecutive years, and it is well-positioned to keep that streak going.

Overall, management characterizes the beverage industry as attractive and expanding, and Coca-Cola has the brand power to grow faster than the industry over time through market share gains. This is why Buffett has kept the stock in Berkshire's portfolio for more than 30 years without selling a single share.

Based on its current payout, the stock's forward dividend yield is 2.7% -- well above the S&P 500 's average yield of 1.3%. With the company's sales and earnings growing at healthy rates, that high yield suggests Coca-Cola stock is probably undervalued and could continue to climb to new highs over the next year.

Buffett loves investing in businesses that dominate their markets and offer essential services that would be impossible to replace. That helps explain why Berkshire Hathaway owns shares of Visa (NYSE: V) and two other credit card companies.

The credit card market is dominated by a handful of brands, including Visa, American Express , Mastercard , and Discover , but Visa is a relatively safe credit card stock because unlike American Express and Discover, it doesn't issue the cards that include its name, so it doesn't carry any credit risk. It focuses on the far more lucrative business of managing the network that processes payments.

Over the last year, Visa earned $19 billion in profit on $34 billion of revenue, which gave it a high profit margin of 54%. These profits help fund reliably growing dividends for its shareholders.

Visa paid out 21% of its earnings over the last year. The current quarterly payout is $0.52 per share, bringing its forward yield to about 0.7%. This is a relatively low yield (in part because the stock is performing well), but investors are also getting above-average dividend growth.

Visa raised its dividend by 15% last year, and investors should expect the company's earnings to continue growing at double-digit percentage rates to fund more increases. Visa has a huge opportunity to capture even more of the $20 trillion worth of consumer payments that occur each year across cash, checks, and various forms of electronic payments.

Analysts expect the company's earnings to grow at an annualized rate of 12% over the next several years. Visa's stock price should continue to follow that growth and deliver satisfactory returns to shareholders.

Should you invest $1,000 in Coca-Cola right now?

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American Express is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway, Mastercard, and Visa. The Motley Fool recommends Discover Financial Services and recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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