How Warren Buffett’s advice to JLo inspired the name of her fragrance

Taylor Locke

The name of Jennifer Lopez’s latest fragrance, Promise, was inspired by something billionaire Warren Buffett told the singer, actress and entrepreneur, who performed during the halftime show at Sunday’s Super Bowl LIV.

READ: Warren Buffett says this is what he’d do to live a happier life—if he could live all over again

“He told me something that resonated with me,” ABC News reported Jennifer Lopez saying at a fragrance launch event in September. “He said, ‘a brand is a promise.’”

“I just feel like everything that I put out into the world has to be a promise,” she said. “We have to have promises with ourselves. It’s really the foundation that keeps us going. It really made me think about life in a bigger way.”

So Lopez thought it would be the right name at the right time for her fragrance.

Forbes ranked Lopez as the 76th top celebrity earner for 2019, at $43 million in estimated earnings. Her 25-scent fragrance empire is reportedly worth $2 billion, according to WWD.

Although the advice sparked inspiration for Lopez, it isn’t the first time Buffett had shared it. He told Berkshire Hathaway shareholders the same thing at both the 2008 and 2009shareholders meetings in Omaha, Nebraska.

In fact the chairman and CEO of Berkshire has mentioned the word “promise” over 130 times in his letters to shareholders throughout the years – each time in reference to promises kept, promises broken by others and promises he made to shareholders.

READ: Billionaire Warren Buffett wants young people to know: Ignoring this is like ‘leaving a car out in hailstorms

″[A]t Berkshire we can keep our promises,” Buffett said in his 1993 letter to shareholders.

And in his 1990 letter he said, ”[w]e will behave exactly as promised, both because we have so promised, and because we need to in order to achieve the best business results.”

“I think you can take Warren’s promises to the bank,” Charlie Munger, vice chairman of Berkshire, said during the company’s 2008 meeting in Omaha.

This article first appeared on CNBC: as is republished with its permission

Partner Content

Disruptive digital solutions is rewiring the DNA of Banking

By Kennedy Mubita, Africa Head, SC Ventures. Imagine a bank whose customers can tap on a wearable device to...

The future of banking; digitization and collaboration as growth accelerants

By Kariuki Ngari, CEO & Managing Director, Standard Chartered, Kenya & East Africa COVID-19 has upended the social and...

Star Quality Speaker Line-Up at Africa Tech Festival 2020

Acknowledged as the world’s largest Africa-focused digital infrastructure and emerging tech event, the Africa Tech Festival has always attracted a stellar line-up of critical thinkers, analysts, futurists, keynote and inspirational speakers. 2020 will more than deliver on that reputation, with a stimulating array of visionary industry presenters, raconteurs and even some sporting greats.


Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox