Just $1 million for Power Lunch with Warren Buffett
This year’s power lunch with Warren Buffett has been sold for just $1 million, a bargain price compared to past years, for example last year’s record bid price of $2.62 million. Actually, this year’s price is the lowest bid since 2007 when investor Mohnis Parbai won with a $650,100 bid.
An undisclosed bidder won a five-day charity eBay auction and paid that sum for a private lunch with billionaire investor and the third-richest man in the world. Mr. Buffett will dine with the winning bidder and up to seven friends at Smith & Wollensky in New York City on a mutually agreed upon date.
The auction proceeds will go to Glide Foundation, an institution that helps alleviate poverty in the San Francisco Bay Area.
Buffett has described Glide as “maybe the most effective organisation I’ve seen for people down on their luck. It takes people who have hit bottom and brings them back. I’ve seen it with my own eyes.”
He has already helped raise nearly $15 million over the years for a San Francisco homeless charity.