Mystery Bidder Wins eBay Auction to Dine With Warren Buffet For $3,456,789:
For the past seventeen years since 2000, billionaire investor, Warren Buffet, has been auctioning off the opportunity for a personal lunch with himself – the legendary CEO of Berkshire Hathaway. This year, the “Power Lunch” with the Oracle of Omaha went for a whopping $3.5 million, tying the record for the highest bid since inception (2012’s winning bid was $3,456,789 as well). The week-long bidding process is an exciting time for all, as the proceeds go to benefit Glide, an anti-poverty organization based in San Francisco that provides meals, shelter, and other services to the city’s homeless and poor. Throughout the years, Buffet has raised over $20 million for the cause.
The lunch takes place at the Smith & Wollensky steakhouse in New York City, and while the lunch itself is on the house, the ticket to get there typically costs over $1 million (especially in recent years). The winning bidder is allowed to invite up to seven guests to join them, although some opt for a one-on-one dining experience with the most successful investor in the world. Former hedge fund manager, Ted Weschler, famously won consecutive Buffet lunch bidding wars from 2010 to 2011 totaling over $5.2 million, and was eventually offered a position within Berkshire Hathaway. For a fundraiser that started in 2000 with a winning bid of “only” $25,000, the price has steeply risen in 2016: $3,456,789. What would you pay for quality time with one of the greatest minds in the investing world? This just goes to show you the amazing impact that a knowledgeable and experienced mentor can have on a large group of people.