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Business

Warren Buffett’s charity lunch picks a record $ 19 million bid




June 18 (Reuters) – A wealthy man has bid a record $ 19 million to have lunch with Warren Buffett, on the 21st and final time the billionaire businessman auctioned off a private lunch for a San Francisco charity.

The winning bid at the eBay auction, which ended on Friday, far exceeded the previous record of $ 4.57 million paid in 201[ads1]9 by cryptocurrency founder Justin Sun.

Proceeds go to Glide, a nonprofit organization in San Francisco’s Tenderloin district that helps the poor, homeless, or those struggling with substance abuse. Glide offers meals, shelter, HIV and hepatitis C tests, job training and children’s programs.

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This year’s winner chose to remain anonymous. An eBay spokeswoman said the lunch was the most expensive item ever sold on the company’s website for charity.

Buffett, 91, chairman and CEO of Berkshire Hathaway Inc (BRKa.N), raised about $ 53.2 million for Glide in the 21 auctions, which began in 2000.

“It has been nothing but good,” Buffett said in a statement. “I have met many interesting people from all over the world. The one universal characteristic is that they feel that the money will be used very well.”

No auctions were held in 2020 and 2021 due to the COVID-19 pandemic.

Buffett began supporting Glide after his first wife, Susan, introduced him to the charity, where she had volunteered.

Susan Buffett died in 2004.

Buffett has promised to give away almost all of his fortune. Buffett was worth $ 93.4 billion on Friday, ranked seventh worldwide, according to Forbes magazine.

This year’s auction winner and up to seven guests will join Buffett at the Smith & Wollensky steakhouse in Manhattan.

Buffett will talk about almost anything, but not where he can invest next time.

Berkshire owns dozens of companies, including the BNSF railway, Geico car insurance, energy, manufacturing and retail, and shares such as Apple Inc (AAPL.O) and Bank of America Corp (BAC.N).

Buffett still owns nearly 16 percent of the Omaha, Nebraska-based conglomerate, despite having donated more than half of the shares since 2006, including $ 4 billion on June 14. read more

According to Glide, these bidders 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

2003: David Einhorn, Greenlight Capital, $ 250,100

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

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: Justin Sun, $ 4,567,888

2020-2021: No auctions held

2022: Anonymous, $ 19,000 100

* later became a portfolio manager at Berkshire Hathaway

Sign up now for FREE unlimited access to Reuters.com

Reporting by Jonathan Stamp in New York Further reporting by Jahnavi Nidumolu in Bengaluru; Edited by David Gregorio, Clarence Fernandez and Frances Kerry

Our standards: Thomson Reuters Trust Principles.



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