Billionaire investor and CEO of Berkshire Hathaway, Warren Buffett, once joked that if the government hadn’t bailed out the banks in 2008, he would have had a fast-food Thanksgiving at McDonald’s. In a CNBC interview in 2010, Buffett quipped, “If the government hadn’t acted, I would be eating Thanksgiving dinner at McDonald’s.”
This humorous comment by Buffett highlights the magnitude of the threat posed by the financial crisis in 2008, and reflects his well-known frugality. Buffett is a regular patron of McDonald’s, often having breakfast at the fast-food chain during his morning commute. He even owns one of the restaurant’s coveted gold cards, granting him free meals for life at any McDonald’s in his hometown of Omaha, Nebraska.
Buffett’s love for McDonald’s and his thrifty nature are well-documented. Even in the company of one of the wealthiest men in the world, Bill Gates, Buffett demonstrated his penchant for saving money by offering to pay for their lunch at McDonald’s with coupons, as Gates recounted in a public letter to Buffett in 2017.
Despite his humorous quips about dining at McDonald’s, Buffett’s appreciation for the US government’s actions during the 2008 financial crisis is evident. In a New York Times op-ed article, Buffett praised the government’s interventions, expressing gratitude for their actions that helped prevent a more severe recession.
As an influential figure in the world of investing, Buffett’s insight into the federal response during the financial crisis is backed by his own actions. Berkshire Hathaway made significant investments in blue-chip companies and provided crucial financial support to struggling businesses during that period, demonstrating Buffett’s firsthand involvement in the recovery efforts.
Warren Buffett’s lighthearted comments about a hypothetical McDonald’s Thanksgiving serve as a reminder of the gravity of the 2008 financial crisis, while also shedding light on his personal preferences and frugal habits.