Lunch with Warren Buffett Hammered for $3.3-M this Year

Lunch with Warren Buffett Hammered for $3.3-M this Year

Lunch with Warren Buffett Hammered for $3.3-M this Year

$BRK.A, $EBAY

The winning bid for a lunch with the billionaire investor in a week-long charity auction that concluded Friday on EBay Inc.’s (NASDAQ:EBAY) website.

This year’s price was short of the $3.46-M record, ranking 3rd in the event’s history. And for a 3rd straight year, the auction’s winner asked to remain anonymous, organizers said.

Mr. Buffett, 87 anni, has participated in the annual auction for almost 20 years to benefit Glide, a San Francisco-based charity.

The lunch with Mr. Buffett generally brings in more than 10% of the organization’s budget and helps fund projects that address hunger, poverty and homelessness.

This year’s auction will aid the charity, which has seen the demand for its services skyrocket, according to Glide’s President and CEO Karen Hanrahan.

“It was spectacular,” Ms. Hanrahan said of the auction in an interview. “This is just an extraordinary gift that Warren gives to Glide.”

The winner of the auction gets to bring 7 friends to a lunch with Buffett at Smith & Wollensky, a New York steak house.

Ted Weschler submitted the highest offer in Ys 2010 and 2011. He got a job in Y 2011 with company and now helps oversee Berkshire Hathaway Inc.’s (NYSE:BRK.A) investments.

As Berkshire’s CEO, Mr. Buffett built the company into a $475-B corporation in sectors from insurance to railroad industry and beyond.

Bidding for this year’s luncheon started on 27 May garnering a total of 136 bids.

“Glide really takes people who have hit rock bottom and helps bring them back,” Mr. Buffett said in a statement. “They’ve been doing it for decades. If I can help out by raising some money for them, then I enjoy doing it.”

Year Winner Winning Bid
2000 Anonymous $25,000
2001 Anonymous $18,000
2002 Anonymous $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 $2,110,100
2009 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. $2,345,678
2016 Anonymous $3,456,789
2017 Anonymous $2,679,001

 

Symbol Last Trade Date Change Open High Low Volume
NYSE:BRK.A 289200 1 Jun 2018 2000.00 290080 291000 288470 200
HeffX-LTN Analysis for BRK.A: Overall Short Intermediate Long
Neutral (-0.20) Neutral (-0.18) Bearish (-0.25) Neutral (-0.17)

Have a terrific weekend.

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