Chinese gaming company Da Lian Zeus Entertainment made a $2.35 million bid on Friday to win a private lunch with Warren Buffett.
The proceeds of the auction are used by The Glide Foundation to help the poor and homeless in San Francisco, California. Glide provides meals, affordable housing and counseling for the poor across the city.
Janice Mirikitani, co-founder of Glide with her husband, Rev. Cecil Williams, told Bloomberg:
“For him to believe in us is not even a compliment — it’s an honor,”
Every year Buffett auctions an invitation to lunch on eBay
So far the highest bid, a whopping $3,456,789, was made in 2012 – marking it as the most expensive charity item ever sold on eBay.
The winning bid last year was $2,166,766.
The lunch auction has raised $17.9 million for Glide over the past 15 years.
The lunches are an “interesting experience” for Buffett
Buffett said the lunches typically last at least three hours. A variety of topics are talked about, however, discussing what Buffett plans on investing in next is off limits.
“Every year, it’s an interesting experience for me,” Buffett said. “I’ve met a lot of great people in connection with it. Made new friends. Hired a person. Had a lot of good steaks, so I can’t complain.”
Hedge-fund manager David Einhorn and Ted Weschler are among those who have won lunch with Buffett before.
Up to seven friends can be brought along to the dinner, which is usually at the Smith & Wollensky steakhouse in New York City.