Why Warren Buffett Wants To Be In Jimmy Buffett’s Will

Mandatory Credit: Photo by Larry Marano/Shutterstock (13770400af)Jimmy Buffett of Jimmy Buffett and The Coral Reefer Band performs during The Second Wind Tour 2023 at Hard Rock Live held at the Seminole Hard Rock Hotel & Casino, Hollywood, Florida, USA - 15 Feb 2023Jimmy Buffett and The Coral Reefer Band in concert during The Second Wind Tour 2023 at Hard Rock Live held at the Seminole Hard Rock Hotel & Casino, Hollywood, Florida, USA - 15 Feb 2023.
Larry Marano/Shutterstock / Larry Marano/Shutterstock

Despite having the same last name, Warren Buffett and Jimmy Buffett aren’t related. They even took a 23andMe DNA test together to find out, The New York Times reported in 2018. But, this hasn’t stopped Warren Buffett, CEO of Berkshire Hathaway and fifth-wealthiest person in the world, from wanting to be in his friend’s will.

American musician, singer-songwriter and businessman Jimmy Buffett was recently interviewed by Forbes about how he amassed his wealth. According to Forbes, Buffett, 76, built a career out of hit songs, merchandise, chain restaurants, resorts and gated communities. Today, he has an estimated net worth of $1 billion. Although Buffett declined to comment on his fortune, Forbes broke his billion down into a 28% stake in Margaritaville Holdings that’s estimated to be worth $180 million, $60 million from the tequila and beer business, $570 million amassed from touring and record sales, a music catalog worth $50 million and a $140 million collection of six homes, four planes and a yacht. He also has shares in Warren Buffet’s Berkshire Hathaway, the investment conglomerate.

Jimmy Buffett landed in Key West, Florida, in the early 1970s where he became known for his trademark tropical rock sound, Forbes reported. His breakthrough came when he released his hit “Margaritaville,” from his 1977 album, “Changes in Latitudes, Changes in Attitudes.” But what really helped Buffett’s career take off was looking at his work like a businessman after spotting knock-off T-shirts at Key West merch stores — shirts made and sold without his approval, Forbes wrote. He then started his own brand by opening the first Margaritaville T-shirt shop in Key West in 1985.

Make Your Money Work Better for You

“If you’re an artist, if you want to have control of your life… then you gotta be a businessman, like it or not,” Buffett told Forbes in 1994. “So the businessman evolved out of being an artist.”

Buffett now has an empire that encompasses bestselling novels, a Broadway musical, the Mailboat Records label and an internet radio station. Margaritaville Holdings, now a global licensing operation, brought in $2.2 billion in sales in 2022. A source close to the company told Forbes that this doesn’t include Buffett’s estimated $400 million alcohol business. Buffett also has more than 30 vacation resorts, 150 Buffett-themed restaurants and even a two-night, three-day “Margaritaville at Sea” Caribbean cruise.

Warren Buffett Apparently a Jimmy Buffett Fan

His success has made a big impression on Warren Buffett, widely known as “The Oracle of Omaha,” who was worth $93.4 billion in 2022, as previously reported by GOBankingRates. Most of Warren Buffett’s wealth comes from his ownership in investment firm Berkshire Hathaway. The firm owns over 60 companies, including Geico Insurance, Duracell batteries and Dairy Queen restaurants, according to Forbes.

“I wish there were more Jimmy Buffetts, but there aren’t,” Warren Buffett jokingly told Forbes. “Tell Jimmy to keep me in his will!” UNILAD noted that while this comment was likely tongue-in-cheek, you can’t help but think why Buffett needs another billion.

Make Your Money Work Better for You

More From GOBankingRates

Make Your Money Work Better for You

About the Author

Josephine Nesbit is a freelance writer specializing in real estate and personal finance. She grew up in New England but is now based out of Ohio where she attended The Ohio State University and lives with her two toddlers and fiancé. Her work has appeared in print and online publications such as Fox Business and Scotsman Guide.
Learn More


See Today's Best
Banking Offers