Yes, it’s true and it’s been happening since year 2000. The Berkshire Hathaway Chairman, Warren Buffett, has been auctioning off a lunch with him for 19 years in a row. It’s an initiative that has given plenty of investors a rare chance to meet the genius billionaire investor while helping the poor and homeless people in San Francisco.
Since 2003, ebay has been the official site for Buffett’s annual power lunch date. This year, the auction was held from May 27 to June 1, which ended with the winning bid of $3,300,100. While this is a staggering sum to pay for a business lunch meeting, it wasn’t the most expensive lunch with Buffett to date. But it came pretty close to the 2012 record of $3,456,789.
So, what’s the catch? Why would a few people scramble to score a date with Buffett?
For starters, the winner gets a once-in-a-lifetime opportunity to dine and discuss ‘almost’ anything with the Oracle of Omaha at Smith & Wollensky in Manhattan. What’s more, the lucky bidder could bring along seven more people. They could ask Warren any question except what stocks he’s going to invest in next.
If you’re wondering whose brilliant idea it was to auction off lunch date with Buffett, it was his late wife, Susan Buffett. She was a volunteer at GLIDE so she came up with this astute fundraising plan. As ebay wrote, 100% of the winning bid will go to the San Francisco-based charity organization.
Missed this year’s ebay auction? Don’t worry, Mr. Buffett might still open his lunch break for next year’s fundraising campaign. Just be sure to comply with the pre-qualification process, which includes an opening bid of $25,000.