Buffett lunch goes for $1 million
How much would you pay to have lunch with Warren Buffett? The winning bidder at the investment guru’s annual anti-poverty fundraiser plunked down $1,000,100 for the honor on Friday.
For the 14th year, Berkshire Hathaway (BRKA, Fortune 500) CEO Buffett auctioned off a lunch invitation on eBay (EBAY, Fortune 500). The winner, as is common, bid anonymously.
The top bid was well below last year’s record of $3.5 million. The winning bidder in 2012 was also anonymous.
Proceeds from the auction will go to the San Francisco charity GLIDE, which fights poverty and serves about 800,000 meals each year to the poor.
Since the auction began in 2000, it has raised about $16 million for the charity.
All the bidders must be pre-qualified. Bidding started on June 2. The minimum bid was $25,000. The lunch will be held at New York City steakhouse Smith & Wollensky.
Buffett has become one of the world’s leading philanthropists. He is giving away the bulk of his fortune, worth tens of billions. The largest donation will go to the Bill & Melinda Gates Foundation, the charity run by Buffett’s friend, Microsoft (MSFT, Fortune 500) founder Bill Gates.
Buffett has also has started The Giving Pledge: More than 100 billionaires from around the globe have pledged to donate half of their net worth during their lifetime, or at their death.[source:cnn]