Warren Buffett loves to take calculated risks. It looks like Berkshire made a good move insuring the contest.
Pepsi paid an undisclosed seven-figure sum for Berkshire to assume the risk of the show's final contestant winning it all. As an insurance giant, Berkshire Hathaway didn't need to study its actuary tables to realize that this was a good deal. The odds of someone walking away with the billion-dollar prize is a bleak million-to-one long shot. That's chimp chump change for Berkshire, which should emerge as the real winner here.
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