Bloomberg News

Buffett Lunch Bidding Hits $2 Million, Setting Record Pace

June 06, 2011

(Updates top bid in first paragraph.)

June 6 (Bloomberg) -- Warren Buffett’s lunch auction to benefit a San Francisco charity has drawn a top offer of $2 million with four days of bidding remaining, putting the annual frundraiser ahead of last year’s pace.

The weeklong auction on EBay Inc., which began yesterday, has generated bids from at least two potential donors as of 9:57 a.m. in San Francisco, according to the website. Last year, bidding reached $400,100 on the third day and set a record of $2.63 million in the final hours. This year’s auction closes June 10.

Buffett, the 80-year-old investor who is chairman and chief executive officer of Berkshire Hathaway Inc., has raised more than $8 million over the past decade for the San Francisco-based Glide Foundation, which serves meals to the needy. Buffett’s first wife Susan, who died in 2004, had volunteered with the organization.

Buffett’s “generosity, and that of the winning bidders, has provided meals, health care, job training, rehabilitation and housing support to help lift people out of these hard times,” Reverend Cecil Williams, Glide’s founder, said in a statement.

The auction winner gets lunch for eight with Buffett in New York at Smith & Wollensky, the steakhouse. Buffett, who’s revered by other investors, turned Omaha, Nebraska-based Berkshire from a failing textile mill into a $190 billion seller of bricks, power and hurricane insurance.

Glide Lunch With Warren Buffett Results:

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, China $2,110,100 2009 Salida Capital, Canada $1,680,300 2010 Anonymous $2,626,311

Source: Glide

--Editors: Dan Kraut, Peter Eichenbaum

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net.


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus