Bid for Buffett Lunch Hits $4,567,888
An annual bidding ritual to have lunch with Warren Buffett, the proceeds of which go to charity, has hit $4,567,888, according to the bidding page on eBay. The amount was the final bid. The money will go to SF based…
An annual bidding ritual to have lunch with Warren Buffett, the proceeds of which go to charity, has hit $4,567,888, according to the bidding page on eBay.
The amount was the final bid.
The money will go to SF based charity GLIDE which provides social services in San Franciso. It describes itself as
GLIDE is a social justice movement, social service provider and spiritual community dedicated to strengthening communities and transforming lives. Located in San Francisco’s culturally vibrant but poverty-stricken Tenderloin neighborhood, GLIDE addresses the needs of, and advocates for, the most vulnerable and marginalized individuals and families among us.
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This is the 20th year of the auction.
The winning bidder has not been named.
Buffett is America’s most famous investor, and one of the richest people in the world. He controls conglomerate Berkshire Hathaway, which owns a number of companies outright and has investments in some of America’s largest companies, ranging from Wells Fargo to Amazon, to Apple, to Coca Cola.
He recently described the primary motivations behind how he runs Berkshire:
Our long-term economic goal (subject to some qualifications mentioned later) is to maximize Berkshire’s average annual rate of gain in intrinsic business value on a per-share basis. We do not measure the economic significance or performance of Berkshire by its size; we measure by per-share progress. We are certain that the rate of per-share progress will diminish in the future – a greatly enlarged capital base will see to that. But we will be disappointed if our rate does not exceed that of the average large American corporation
He has already promised to give most of his huge fortune to charity.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
