Business

Mystery bidder agrees to pay $ 4.57 million for private lunch with Warren Buffett




The winning bid was submitted during a five-day online auction on eBay.

An anonymous bidder has agreed to pay a record $ 4,567,888 on an annual charity auction to have a private lunch with Warren Buffett, Berkshire Hathaway Inc. billionaire chief executive

Winning Bids, filed in five days Online auction on eBay that ended Friday night, was almost one-third higher than the previous record $ 3,456,789 bid in both auctions in 2012 and 2016.

Revenue Benefits The Glide Foundation, a charity in San Francisco's Tenderloin District as serves the poor, homeless or those who fight for substance abuse.

Buffett, 88, has increased $ 34.2 million for Glide in 20 annual auctions, which began in 2000 and moved to eBay in 2003. His first wife Susan, who died in 2004, introduced him to Glide after volunteering for charity.

"Mr Buffett is excited. We just talked to him," President Karen Hanrahan told Reuters after the auction closed. "Mr. Buffett is committed to continuing the auction as long as he is capable. He has been a thought partner in thinking through Glide's future and how to set it up for the next 50 years."

The winning bidder and up to seven friends can eat at Smith & Wollensky steakhouse in Manhattan with Buffett, who says he will discuss everything except his next investment.

This year's auction drew 1[ads1]8 bids from five bidders.

The top bid would also be enough to buy 15 Class A shares or 23,137 B shares in Omaha, Nebraska-based Berkshire, of which more than 90 companies include car insurance companies Geico and BNSF railroad.

Former auction buyers have included security fund manager David Einhorn of Greenlight Capital in 2003, and Ted Weschler, now one of Buffet's portfolio managers in Berkshire, in 2010 and 2011.

Glide's budget goes towards providing about 2,000 free meals a day, housing, HIV and hepatitis C tests, job training and childcare and post-school programs.

"What it means to us as an organization: It's great," Hanrahan said, referring to the auction. "It's going to help many thousands of people in this city."

According to Glide, these prizes have won their auctions:

2000: Pete Budlong, $ 25,000

2001: Jim Halperin and Scott Tilson, $ 20,000

2002: Jim Halperin and Scott Tilson, $ 25,000 [196590032003:DavidEinhornGreenlightCapital$250100

2004: Jason Choo, Singapore, $ 202,100

2005: Anonymous, $ 351,100

2006: Yongping Duan, California, $ 620,100

2007: Mohnish Pabrai, Guy Spier, Harina Kapoor, $ 650,100

2008: Zhao Danyang, Pure Heart Asset Management, China, $ 2,110,100

2009: Courtenay Wolfe, Salida Capital, Canada, $ 1,680,300 [19659003] 2010: Ted Weschler, $ 2,626,311

2011: Ted Weschler, $ 2,626,411

2012: Anonymous, $ 3,456,789

2013: Anonymous, $ 1,000,100

2014: Andy Chua, Singapore, $ 2,166,766

2015 : Zhu Ye, Dalian Zeus Entertainment Co., China, $ 2,345,678

2016: Anonymous, $ 3,456,789

2017: Anonymous, $ 2,679,001

2018: Anonymous , $ 3,300,100

2019: Anonymous, $ 4,567,888

ERROR: Macro / Ads / dfp ad article new missing!

MORE FROM INTERNATIONAL

  • International

    Winning bids were submitted during a five-day online auction on … READ MORE

  • India

    Health institutions said the laboratory results were expected … READ MORE

  • America

    The risk of recession happens soon, but will rise … READ MORE

  • Pakistan

    The family of the newborn accused that the incident happened … READ MORE

MORE FROM THE Khaleej Times

  • General

    Eid is the first day of the Islamic moon Shawwal, which comes … READ MORE

  • America

    Risk of recession happens soon, but will rise … READ MORE

  • Ramadan 2019

    Times can be changed according to the directives of … READ MORE

  • India

    Health authorities said the lab results were expected … ] READ MORE

<! –

->



Source link

Back to top button