Gerard Miller | CNBC
A blessed, and probable wealthy, person bid more than $19 million to dine with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a non-public lunch to profit a San Francisco charity.
The successful bid in the eBay auction that ended on Friday evening far surpassed the preceding report of $4.57 million, paid in 2019 by cryptocurrency entrepreneur Justin Sunlight, though the new winner’s identity could not instantly be decided.
Proceeds advantage Glide, a nonprofit in San Francisco’s Tenderloin district that aids the very poor, homeless or those battling material abuse. Glide presents meals, shelter, HIV and hepatitis C exams, occupation schooling and children’s systems.
Buffett, 91, the chairman and chief govt of Berkshire Hathaway, has raised extra than $53.2 million for Glide in the 21 auctions, which started in 2000.
An eBay spokeswoman reported the lunch was the most costly merchandise at any time sold on the firm’s internet site to profit charity.
No auctions ended up held in 2020 and 2021 simply because of the COVID-19 pandemic.
Buffett became a supporter of Glide after his 1st wife Susan, who died in 2004, launched him to the charity, in which she experienced been volunteering.
He has also pledged to give away virtually all of his fortune. Buffett was truly worth $93.4 billion on Friday, ranking seventh all over the world, in accordance to Forbes magazine.
This year’s auction winner and up to seven visitors will dine with Buffett at the Smith & Wollensky steakhouse in Manhattan.
Buffett will speak about pretty much everything, but not where he could make investments future.
Hedge fund supervisors David Einhorn and Ted Weschler are among previous auction winners.
Weschler became a Berkshire portfolio supervisor after spending a mixed $5.25 million to win the 2010 and 2011 auctions.
Berkshire owns dozens of companies together with the BNSF railroad, Geico automobile insurance policy, power, manufacturing and retail firms, and stocks these types of as Apple and Bank of The us Corp.
Buffett still owns virtually 16% of the Omaha, Nebraska-dependent conglomerate, irrespective of possessing donated more than fifty percent of his shares considering that 2006, which includes $4 billion on June 14.