Investing

No Free Lunch… Buffett Lunch Approaching $1M (BRK-A, EBAY)

Berkshire Hathaway Inc. (NYSE: BRK-A) is known for its giving back, or at least Warren Buffett is.  Each year Buffett auctions off a luncheon at Smith & Wollensky in New York for the winner of an online charity auction.  The…

By Jon C. Ogg
Published June 10, 2010, 4:18pm ET · 1 min read

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Berkshire Hathaway Inc. (NYSE: BRK-A) is known for its giving back, or at least Warren Buffett is.  Each year Buffett auctions off a luncheon at Smith & Wollensky in New York for the winner of an online charity auction.  The auction on Ebay Inc. (NASDAQ: EBAY) has seen 45 bids as of 4:00 PM EST and is currently at $900,100.00 after having started on June 6 at $25,000.00.

The auction late year went for almost $1.7 million, with the bulk of that above-$1 million coming on the final day; the record was over $2 million back in 2008.  All proceeds go to the Glide Foundation, and the proceeds are donated by Buffett himself rather than by Berkshire Hathaway.

As a reminder, not just anyone can bid on this.  eBay notes “This listing is restricted to pre-approved buyers only. Email the seller to be placed on that pre-approved list. ”

No free lunch here…

JON C. OGG

Contact [email protected] for any questions or corrections.

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Jon C. Ogg

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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