Lunch with the billionaire and well-known philanthropist Warren Buffett has attracted a record auction bid of $2.63 million at the 11th annual charity fundraiser.
The winning bidder, who wished to remain anonymous, will have a chance to dine with Buffett at New York’s prestigious Smith and Wollensky steakhouse.
Buffett earned his title of “legendary investor Warren Buffett” after turning the textile manufacturer Berkshire Hathaway into a billion-dollar enterprise.
The annual lunch function has given business entrepreneurs an opportunity to discuss with Buffett topics such as investment strategies, corporate governance, and philanthropy. The winner can also bring nine guests to share the occasion.
This year’s auction was 24 percent higher than the previous record, set in 2008 when hedge-fund manager Zhao Danyang of Hong Kong paid $2.11 million.
The chance to have lunch with the celebrated billionaire investor drew nine bidders and 77 bids, according to EBay Inc.
Buffett, the 79-year-old investor who is chairman and chief executive officer of Berkshire Hathaway Inc., has raised about $8.56 million with the auctions to help the Glide Foundation, which serves meals to the needy. A group led by Courtenay Wolfe of Salida Capital won last year with a bid of $1.68 million.
“It’s actually a remarkable calibration of his value,” said Jeff Matthews, author of Pilgrimage to Warren Buffett’s Omaha and founder of hedge fund Ram Partners LP. “It measures what people think his worth to them is,” he continued, reports Bloomberg.
According to the 2010 Forbes Magazine review Buffett’s fortune was estimated at $47 billion, making his the third wealthiest person in the world. He runs behind telecommunications investor Carlos Slim and Microsoft Corp. co-founder Bill Gates in the worldwide rankings.
Buffett is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist and serves as a member of the board of trustees at Grinnell College.
However, Buffett’s philanthropy has recently earned him no less respect. He has vowed to give away 85 percent of his wealth to the Gates Foundation. The Foundation was described as the largest transparently operated private foundation in the world by the Economist and was founded by Bill and Melinda Gates. The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and in America, to expand educational opportunities and access to information technology.
The winning bidder, who wished to remain anonymous, will have a chance to dine with Buffett at New York’s prestigious Smith and Wollensky steakhouse.
Buffett earned his title of “legendary investor Warren Buffett” after turning the textile manufacturer Berkshire Hathaway into a billion-dollar enterprise.
The annual lunch function has given business entrepreneurs an opportunity to discuss with Buffett topics such as investment strategies, corporate governance, and philanthropy. The winner can also bring nine guests to share the occasion.
This year’s auction was 24 percent higher than the previous record, set in 2008 when hedge-fund manager Zhao Danyang of Hong Kong paid $2.11 million.
The chance to have lunch with the celebrated billionaire investor drew nine bidders and 77 bids, according to EBay Inc.
Buffett, the 79-year-old investor who is chairman and chief executive officer of Berkshire Hathaway Inc., has raised about $8.56 million with the auctions to help the Glide Foundation, which serves meals to the needy. A group led by Courtenay Wolfe of Salida Capital won last year with a bid of $1.68 million.
“It’s actually a remarkable calibration of his value,” said Jeff Matthews, author of Pilgrimage to Warren Buffett’s Omaha and founder of hedge fund Ram Partners LP. “It measures what people think his worth to them is,” he continued, reports Bloomberg.
According to the 2010 Forbes Magazine review Buffett’s fortune was estimated at $47 billion, making his the third wealthiest person in the world. He runs behind telecommunications investor Carlos Slim and Microsoft Corp. co-founder Bill Gates in the worldwide rankings.
Buffett is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist and serves as a member of the board of trustees at Grinnell College.
However, Buffett’s philanthropy has recently earned him no less respect. He has vowed to give away 85 percent of his wealth to the Gates Foundation. The Foundation was described as the largest transparently operated private foundation in the world by the Economist and was founded by Bill and Melinda Gates. The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and in America, to expand educational opportunities and access to information technology.
