Saturday, 10 June 2017

Anonymous fan to pay $2.6m to have lunch with billionaire Warren Buffett

An anonymous fan of fourth wealthiest man on earth, Warren Buffett, has agreed to pay a total of $2,679,001 at an online charity auction to have lunch with the billionaire chairman of Berkshire Hathaway Inc.

The winning bid for the 86-year-old billionaire came in the closing seconds of the five-day eBay auction, which drew 41 bids before ending on Friday night. 

It was lower than the record $3,456,789 bid in similar auctions in 2012 and 2016, Reuters reports.

For 18 years, Warren Buffett has auctioned off a lunch to raise money for the Glide Foundation, which helps homeless people in San Francisco. The chairman and CEO of Berkshire Hathaway has raised more than $23 million through the auctions.

The money will be used to provides food, health care and other services to the homeless, the impoverished, and people struggling with substance abuse.

Buffett became a believer in Glide’s work after his late wife Susan volunteered for the charity before her death in 2004.

The winners of the lunch auction typically dines with Buffett at Smith and Wollensky steak house in New York City, which donates at least $10,000 to Glide each year to host the lunch. The winner can also bring along seven friends.

“We are very delighted and proud that Mr. Buffett has for years made sure that he participates,” the Rev. Cecil Williams, 87, co-founder of Glide and pastor since 1963 of the Glide Memorial United Methodist Church, said after the auction ended.

Contributions have a “tremendous impact” on people who find themselves “really unable to come to grips with the issue of poverty in urban America,” Williams said.

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