Spiking Interest on All Fronts
While interest rates, labor disputes, and a potential government shutdown dominate headlines, there’s another news story gaining momentum: University of Colorado football. Under the guidance of Coach Prime (aka Deion Sanders), the Colorado Buffaloes have surged to number 19 in the rankings, boasting a flawless 3-0 record as they gear up for a highly anticipated clash against the undefeated University of Oregon Ducks this Saturday.
A Celeb-Filled Fanbase
The mile-high, high-octane football program in Colorado has attracted attention from an eclectic mix of celebrities. From Dwayne “The Rock” Johnson and rapper Lil Wayne to NFL stars Rob Gronkowski and Terrell Owens, and even NBA All-Star Kawhi Leonard – these A-list fans have been spotted at games throughout the season.
CEOs in the Bleachers
It’s not just famous faces who have taken notice. Mike Wirth, CEO of Chevron, revealed his passion for CU football during an interview earlier this week. As a Colorado native and University of Colorado graduate himself, Wirth has remained deeply connected to his alma mater. His notable involvement includes serving as chairman of the CU Boulder Engineering Advisory Council, receiving the college’s Distinguished Engineering Alumni Award in 2010, and even being awarded the University Medal in 2014.
A Shared Passion
Wirth isn’t the only CEO enamored with college football. Warren Buffett, CEO of Berkshire Hathaway, is a devoted fan of his home state team, the Nebraska Cornhuskers. Interestingly, Nebraska and Colorado have long been rival universities. Given that Berkshire Hathaway holds a substantial 123 million shares worth over $20 billion in Chevron, it’s no surprise that Wirth and Buffett have crossed paths.
A Lunchtime Chat
During a recent lunch meeting between Wirth and Buffett, the conversation inevitably turned to football. Wirth, proud of his affiliation with the University of Colorado, and Buffett, fiercely loyal to the Nebraska Cornhuskers, engaged in a spirited discussion about their respective teams.
A Bright Future
With the University of Colorado football team gaining traction and attracting attention from all corners of the world, it’s clear that their rise to prominence is far from over. As fans and CEOs alike continue to rally behind their favorite teams, the stage is set for an exciting season of college football.
Wager Between Mike Wirth and Warren Buffett
A Friendly Bet
Recently, Mike Wirth, the CEO of Chevron, revealed that he had a friendly wager with Warren Buffett regarding the Nebraska/Colorado football game. Intrigued by this revelation, I reached out to Warren Buffett to get his perspective on the matter.
Warren’s Response
In response to my inquiry, Warren Buffett confirmed the bet and shed some light on the details. He explained that he and Mike had made a $5 bet on the outcome of the Nebraska-Colorado game well before the season began. Warren acknowledged that he entered into this wager fully aware of Mike’s expertise in the oil and gas industry. He recognized that Mike was far smarter than him in various intellectual pursuits, including finding oil and gas reserves.
Honoring the Bet
Unfortunately for Warren, Nebraska lost the game, and he graciously admitted defeat. True to his word, Warren promptly sent the $5 to Mike via Federal Express. He expressed his admiration for Mike’s victory, emphasizing that it was well-deserved since Mike had no inside information about Colorado’s performance in the game. Interestingly, Warren shared that he found $5 in his wallet that had been untouched for decades, which he used to fulfill his obligation.
A Humble Lesson
Reflecting on the experience, Warren self-deprecatingly remarked, “There’s no fool like an old fool.” Despite losing the bet, he maintained good humor about the situation and even joked about budgeting $5 for football in 2024.
Mike Wirth’s Perspective
Curious to know if Mike actually received the money from Warren, I reached out to him for confirmation. In his response, he expressed his delight at the resurgence of Colorado football under Coach Prime’s leadership and conveyed his gratitude for Berkshire Hathaway’s investment in Chevron. He referred to finding a FedEx package from Warren on his desk as the icing on the cake, indicating that he did receive the $5 as promised.
Berkshire Hathaway’s Success
While Warren Buffett may have lost a small bet, it’s worth noting that Berkshire Hathaway has made considerable profits from its Chevron investment. Despite this setback, it wouldn’t be surprising if Warren seeks better odds in a future Colorado-Nebraska rematch if Coach Prime remains at the helm of the team.
