Warren Buffett bought a stake yesterday in Anheuser-Busch, the biggest US brewer.
The owner of Budweiser and Michelob welcomed Mr Buffett's firm, Berkshire Hathaway, as a "significant shareholder".
Such is the respect for the Sage of Omaha that his interest in the company caused followers to pile in behind him, sending the brewer's share price up 6.5% to $48.04 (£25.18). The company did not disclose how much of the equity he owns.
Recently, Mr Buffett has bought businesses outright as it became more difficult to find undervalued stocks. The firm ended last year with $36bn in cash. He might have been encouraged by Anheuser's lacklustre price. Its shares fell almost 12% in the past year.
