An anonymous fan of Warren Buffett agreed to pay $2,679,001 at an online charity auction to have lunch with the billionaire chairman of Berkshire Hathaway Inc.
The winning bid came in the closing seconds of the five-day eBay auction, which drew 41 bids before ending on Friday night. It was lower than the record $3,456,789 bid in similar auctions in 2012 and 2016.
Money will go to Glide, a San Francisco charity that provides food, health care and other services to the homeless, the impoverished, and people struggling with substance abuse.
The successful bidder and up to seven friends will dine with Buffett at the Smith & Wollensky steak house in Manhattan. All topics are fair game apart from where Buffett will invest next.
Buffett has held 18 annual auctions for Glide, raising about $26.3 million. He became involved with Glide after his first wife, Susan, became a volunteer, prior to her death in 2004.
“We are very delighted and proud that Mr. Buffett has for years made sure that he participates,” the Rev. Cecil Williams, 87, co-founder of Glide and pastor since 1963 of the Glide Memorial United Methodist Church, said after the auction ended.
Contributions have a “tremendous impact” on people who find themselves “really unable to come to grips with the issue of poverty in urban America,” Williams said.
Glide uses its $18 million annual budget to provide more than 750,000 free meals, emergency shelter for 8,500 people, 2,600 HIV and Hepatitis C tests, and day care and after school programs for nearly 450 children.
Buffett, 86, is the world’s fourth-richest person, worth $76.2 billion according to Forbes magazine. He is donating virtually all of his fortune to charity.
Past auction winners have included hedge fund manager Ted Weschler, who paid a combined $5.25 million to win two auctions.
He later became one of Buffett’s investing deputies, and along with fellow deputy Todd Combs is likely to oversee Berkshire’s stock investments after Buffett departs.
Berkshire has more than 90 businesses in the insurance, energy, industrial, railroad, retail and other sectors. Buffett owns about 18 percent of the $419 billion company.
The lunches that fetched $3,456,789 remain the most expensive items sold on eBay where all proceeds went to charity. Bidding moved online in 2003.
According to Glide, these bidders have won its auctions:
2000: Pete Budlong, $25,000
2001: Jim Halperin and Scott Tilson, $20,000
2002: Jim Halperin and Scott Tilson, $25,000
2003: David Einhorn, Greenlight Capital, $250,100
2004: Jason Choo, Singapore, $202,100
2005: Anonymous, $351,100
2006: Yongping Duan, California, $620,100
2007: Mohnish Pabrai, Guy Spier, Harina Kapoor, $650,100
2008: Zhao Danyang, Pure Heart Asset Management, China, $2,110,100
2009: Courtenay Wolfe, Salida Capital, Canada, $1,680,300
2010: Ted Weschler, $2,626,311
2011: Ted Weschler, $2,626,411
2012: Anonymous, $3,456,789
2013: Anonymous, $1,000,100
2014: Andy Chua, Singapore, $2,166,766
2015: Zhu Ye, Dalian Zeus Entertainment Co, China, $2,345,678
2016: Anonymous, $3,456,789
2017: Anonymous, $2,679,001
(Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)
Self-preservation fuels the Democratic base’s lurch to the left — before the rich take it all
In 2016 all the corporate news media outlets, NPR included, predicted that Trump would lose. They just did not recognize the discontent in America’s rust belt because the economic dislocation that had, and continues to define life there, was just not part of their personal frame of reference.
They thought the country was several years into a recovery and the national aggregate unemployment data they had commissioned confirmed it. But nobody lives or votes in the aggregate. And it wasn’t until Trump flipped the 200 counties that Obama had carried twice, that the corporate news media started paying some attention.
Experts discuss the distorted impeachment debate at a propaganda forum — and how real debate can untangle it
“Would you be upset if the Democratic nominee called on China to help in the next presidential election?” That’s the concrete question we should ask ourselves about Robert Mueller's report and the issue of impeachment, according to University of California, Santa Cruz, social psychologist Anthony Pratkanis, speaking at a recent Zócalo Public Square event, “Is Propaganda Keeping Americans From Thinking for Themselves?”
This was a week before President Trump’s interview with George Stephanopoulos of ABC News, apparently welcoming foreign interference in the 2020 election. Impeachment wasn’t the ostensible subject of the event — which also featured Texas A&M historian of rhetoric Jennifer Mercieca and UCLA marketing scholar and psychologist Hal Hershfield — but it was never far from mind.
GOP leaders in open warfare with Trump’s White House as another government shutdown looms
According to a report in the Washington Post, GOP leaders are at an impasse with the White House on future budget concerns as President Donald Trump's chief of staff -- which is leading to fears of another government shutdown.
The report states, "GOP leaders have spent months cajoling President Trump in favor of a bipartisan budget deal that would fund the government and raise the limit on federal borrowing this fall, but their efforts have yet to produce a deal."