Lunch With Warren Buffett Costs $2.16 Million
June 9, 2014 The NonProfit Times
What could they possibly serve at a lunch that costs $2.16 million? You get a large helping of Warren Buffett for that tab.
That’s how much Andy Chua of Singapore ended up bidding for a lunch date with the billionaire Oracle of Omaha.
The online auction hosted by GLIDE – a San Francisco, Calif.-based charity that works with the city’s poor and homeless – was the 15th of its kind and has raised $17 million since was first introduced in 2000. That initial auction produced a mere $25,000 – which is now the floor price for initial bids.
Chua’s $2,166,766 bid is more than double the $1 million paid by an anonymous donor last year. The highest amount bid to date was a $3.5 million bid by another anonymous donor in 2012. As in previous years, Chua will be able to invite seven other friends to join him for lunch with Buffett.
Bidding for this year’s auction – which is hosted on eBay – started on June 6th and ended June 13th. All bidders had to fill out a pre-qualification form before submitting their bids.
“eBay was built on believing in the good in people and the eBay Giving Works program operates at the intersection of commerce and philanthropy,” said Greg Pedone, general manager of eBay Giving Works. “Through eBay, GLIDE has been able to tap into a worldwide audience to raise millions in unrestricted funds that help to power human potential.”
“What a special gift this action has been to GLIDE! A heartfelt thank you to Warren Buffet for his continuous support and encouragement,” added GLIDE’s Co-Founder and Minister of Liberation Reverend Cecil Williams. “We are so blessed to have his friendship, the generosity of the bidders and our creative partnership with eBay as we continue our effort to provide unconditional love and support to our neighbors in need.”
Buffett was first introduced to Glide by his late wife, Susan, who died in 2004. “I saw people that the world had given up on…and I saw the transformative power of unconditional love in what they were doing,” said Buffett when asked why he supports GLIDE. “It really hit me.”