A mystery bidder has paid just over $9 million for a private lunch with Warren Buffett, a significant decrease from the last event, with proceeds benefiting charities in San Francisco and Oakland.
An anonymous bidder paid just over $9 million to win a charity lunch with Warren Buffett, a steep decline from the record-setting 2022 auction. The winner, along with up to seven guests, will dine with the Berkshire Hathaway chairman, as well as Golden State Warriors star Steph Curry and his wife, entrepreneur Ayesha Curry, on June 24 in Omaha, Nebraska.
"At 92, I ran out of gas. The spirit remained eager but the flesh became progressively weaker,” Buffett, 95, said, explaining his brief hiatus from the event. “Both the money and the message remain important.” The auction, which has raised over $50 million for San Francisco-based charity Glide since its inception, was a treasured cause of his first wife, Susie Buffett, who died in 2004.
The auction, held on eBay, drew five bidders and started at $50,000. This year's proceeds will be split between Glide, which provides meals, healthcare, and legal aid to vulnerable individuals, and the Currys' Eat. Learn. Play. Foundation, which focuses on providing meals and reading resources to students in Oakland, California. Other items auctioned included a $1 bill signed by Buffett that sold for $9,100 and a signed Curry jersey that sold for $1,547.99.
The winning bid of just over $9 million is a sharp contrast to the record $19 million paid by an anonymous winner in 2022, the last time the lunch was held. The event has long been a coveted opportunity for investors and entrepreneurs to gain an audience with the legendary investor. Past winners include Ted Weschler, now an investment manager at Berkshire Hathaway, who won two auctions, and crypto entrepreneur Justin Sun, who famously gifted Buffett a bitcoin during their 2020 meal. The significant drop in the winning bid may reflect a variety of factors, including the current economic climate and the changing of the guard at Berkshire Hathaway, where Buffett retired as CEO in December but remains chairman.
This article is for informational purposes only and does not constitute investment advice.
