Buffett is auctioning off one last private lunch for charity

OMAHA, Neb. (AP) – The world’s most expensive lunch goes on sale again this spring, when investor Warren Buffett auctions a private meal to raise money for a California homeless charity one last time.

Buffett, Berkshire Hathaway’s CEO, held the lunch auction once a year for 20 years before the pandemic began raising money for the Glide Foundation, which helps the homeless in San Francisco. The auction has been on hiatus for the past two years, but Glide said Monday – a few days before thousands of shareholders are expected to gather at this week’s Berkshire annual meeting – that the event will be revived this year.

Each winning bid since 2008 has rounded $ 1 million, and Buffett has raised nearly $ 34.5 million for the charity over the years.

Many of the previous winners have been investors who honor Buffett for his remarkable track record of finding undervalued companies and stocks to buy for his Omaha, Nebraska-based conglomerate. But at the last auction, a cryptocurrency pioneer paid $ 4,567,888 in 2019 to get the chance to eat with Buffett.

Buffett’s first wife, Susie, introduced him to Glide after she volunteered there. She died in 2004, but the connection persisted.

Buffett has said he supports Glide because they help people in difficult situations find hope again in life. Glide provides meals, health care, job training, rehabilitation and housing support for the poor and homeless.

The 91-year-old billionaire did not immediately answer questions about why he decided to close the auction after this year.

Glide President and CEO Karen Hanrahan said Buffett’s “friendship and generosity over the past 22 years has been invaluable” to the charity.

The week-long eBay auction begins on June 12 with an opening bid of $ 25,000 and continues through June 17. The winner gets up to seven people to dine with Buffett at the Smith & Wollensky steakhouse in New York City. The only item banned at lunch is what Buffett might buy next time.

Buffett’s company owns more than 90 companies, including Geico Insurance, BNSF Railway, several large utilities and a range of manufacturing and retail companies. Berkshire Hathaway also has large investments in companies including Apple, Coca-Cola Co., American Express and Bank of America.

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