Warren Buffett charity lunch fetches winning bid of $19 million -Breaking
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© Reuters. FILEPHOTO: Warren Buffett is the chairman of Berkshire Hathaway Inc. He walks the floor as Berkshire Hathaway Inc shareholders gather in the exhibition hall. The meeting was held in Omaha, Nebraska on May 4, 2019. REUTERS/Scott Jonathan Stempel
(Reuters) – Warren Buffett’s private lunch auction was won by a lucky bidder who is likely to be wealthy. It marked the 21st time the billionaire businessman has sold a meal for charity in San Francisco.
Although the identity of the winner in Friday’s eBay (NASDAQ) auction sale was not known immediately, it far exceeded the $4.57m record set in 2019. It was paid by Justin Sun in 2019.
Glide is a San Francisco nonprofit that assists the homeless, poor and those who abuse substances. Glide is a nonprofit that provides shelter, meals, HIV and hepatitis tests, job training, and programs for children.
Buffett (91), is the chairman and chief executive at Berkshire Hathaway Inc. He has raised $53.2 million to fund Glide’s 21 auctions which started in 2000.
According to an eBay spokesperson, the lunch was the highest-priced item sold by the company on its website.
Due to the COVID-19 pandemic, no auctions took place in 2020 or 2021.
After Susan, his first wife, died in 2004, Buffett was introduced to Glide by her. She had previously been volunteering at the charity.
Buffett has pledged nearly his entire fortune to charity. Forbes magazine reported that Buffett had a net worth of $93.4 billion as of Friday. This placed him seventh globally.
This year’s auction winner and up to seven guests will dine with Buffett at the Smith & Wollensky steakhouse in Manhattan.
Buffett can talk about anything but not what he might invest in the future.
Hedge fund managers David Einhorn and Ted Weschler are among previous auction winners.
Weschler, who won the auctions in 2010 and 2011, paid $5.25 million each to become a Berkshire portfolio management manager.
Berkshire is the owner of dozens of companies, including the BNSF railroad, Geico auto insurance, manufacturing, and energy businesses. There are also stocks like Apple Inc (NASDAQ:), and Bank of America Corp. (NYSE:).
Although Buffett owns almost 16% of Omaha-based Conglomerate Inc., Buffett has donated over half his shares, including $4B on June 14, 2006.
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