Bidding tops $13.1 million for Warren Buffett charity lunch By Reuters

© Reuters. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks by the exhibit corridor as shareholders collect to listen to from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder assembly in Omaha, Nebraska, U.S., Could 4, 2019. REUTERS/Scott

By Jonathan Stempel

(Reuters) – Somebody has bid greater than $13.1 million at a web based public sale to win a closing, non-public lunch with billionaire businessman Warren Buffett to learn a charity that helps the poor, homeless and folks battling substance abuse.

The excessive $13,141,314 bid as of 4 p.m. EDT (2000 GMT) far surpassed the earlier report $4.57 million that cryptocurrency entrepreneur Justin Solar paid in the same 2019 public sale. Bidding this 12 months on eBay (NASDAQ:) ends at 10:30 p.m. EDT (0230 GMT Saturday).

Proceeds profit Glide, a nonprofit in San Francisco’s Tenderloin district that provides meals, shelter, HIV and hepatitis C exams, job coaching and kids’s applications.

Previous to this 12 months, Buffett, 91, chairman and chief govt of Berkshire Hathaway (NYSE:) Inc, had helped Glide increase greater than $34.1 million by auctioning 20 lunches.

The auctions started in 2000. None have been held in 2020 and 2021 due to the pandemic.

Buffett has additionally pledged to offer away practically all of his fortune. He was price $93.4 billion on Friday, rating seventh worldwide, based on Forbes journal.

This 12 months’s public sale winner can take as much as seven visitors to dine with Buffett on the Smith & Wollensky steakhouse in Manhattan.

Buffett will speak about virtually something, although not the place he could make investments subsequent.

He turned a supporter of Glide after his first spouse Susan launched him to the charity, the place she had been volunteering. Susan Buffett died in 2004.

Hedge fund managers David Einhorn and Ted Weschler are among the many winners of prior auctions.

Weschler turned a Berkshire portfolio supervisor after paying a mixed $5.25 million to win the 2010 and 2011 auctions.

Berkshire owns dozens of firms together with the BNSF railroad; Geico automotive insurance coverage; vitality, manufacturing and retail companies, and shares resembling Apple Inc (NASDAQ:) and Financial institution of America Corp (NYSE:).

Buffett nonetheless owns practically 16% of the Omaha, Nebraska-based conglomerate, regardless of having donated greater than half of his shares since 2006, together with $4 billion this week.

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