Chances are you’ve never paid anybody to have lunch with you, but chances are you aren’t Warren Buffett either. Every year, the Sage from Omaha hosts an auction, with the highest bidder getting to join Buffett for lunch and bring seven guests—with the proceeds going to charity. The winner in this, the 18th year of the auction, came in at $2.67 million, which is actually below last year’s winning bid, of $3.46 million.
The auction takes place on eBay, with an opening bid for this expensive lunch set at $25,000. This year’s winning bidder is anonymous, but past winners include the owner of a Chinese online gaming company and Ted Weschler, a former hedge fund manager who was later hired to help run the investments of Buffett’s Berkshire Hathaway operation. In all, the auction has raised more than $25 million for a San Francisco charity called Glide, which offers free meals, health care and other services to homeless and low-income people in San Francisco.
As in the past, the lunch with Mr. Buffett will be at a steakhouse called Smith & Wollensky in New York.
About the Author: Bob Veres has been a commentator, author and consultant in the financial services industry for more than 20 years. Over his 20-year career in the financial services world, Mr. Veres has worked as editor of Financial Planning magazine; as a contributing editor to the Journal of Financial Planning; as a columnist and editor-at-large of Dow Jones Investment Advisor magazine; and as editor of Morningstar’s advisor web site: MorningstarAdvisor.com.
Mr. Veres has been named one of the most influential people in the financial planning profession by Investment Advisor magazine and Financial Planning magazine, was granted the NAPFA Special Achievement Award by the National Association of Personal Financial Advisors, and most recently the Heart of Financial Planning Distinguished Service Award from the Denver-based Financial Planning Association.
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