When he was simply 25 years previous, baseball celebrity Alex Rodriguez signed a 10-year, $252 million contract with the Texas Rangers. It was the largest contract within the historical past of sports activities on the time.
The deal not solely set A-Rod up for all times from a monetary standpoint, it additionally helped him create a useful relationship with legendary investor Warren Buffett.
In an interview with Bloomberg’s David Rubenstein this week, A-Rod stated he determined to cold-call the investor — who’s 45 years his senior — after studying that Berkshire Hathaway was insuring his contract.
“I reached out to him and I stated “Warren, now that we’re enterprise companions, perhaps I can come out and see you in Omaha,'” Rodriguez defined.
Buffett’s secretary Debbie Bosanek answered rapidly, extending an invite for the all-star to go to in October.
“I stated ‘I’ll be there, ‘trigger we’re not going to the playoffs,'” Rodriguez replied.
Warren Buffett is a lifelong baseball fan.
Mark Peterson | Corbis Historical | Getty Images
It started a relationship that will see A-Rod go to Omaha yearly for “5 or 6 years” to take conferences with Buffett. Rodriguez stated that he and Buffett “have this nice connection over our love of baseball.”
In addition to telling Rodriguez that “you all the time need to be a gentleman” and inspiring him to be “a fantastic baseball participant,” Buffett shared a bit of investing information with the younger athlete.
“The two guidelines of investing are ‘One: Never lose cash,’ and ‘Two: Don’t overlook rule No. 1,'” Rodriguez stated Buffett advised him.
Rodriguez was finally traded to the New York Yankees simply three years into his deal. In New York, he broke his personal report when he signed a 10-year, $275 million contract.
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