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Sunday, June 10, 2012

The Cost of Private Lunch With Warren Buffett: $3.5 Million

Warren Buffett with Fisher College of Business...
Warren Buffett with Fisher College of Business Student (Photo credit: Aaron Friedman)

Even the most expensive meals generally don't top four figures, but one person's private lunch with Warren Buffett cost the anonymous bidder $3.5 million.
The good news is that the money goes to charity, so the exorbitant price tag isn't just for the thrill of making conversation with one of the richest men alive.
In fact, the winning bid of exactly $3,456,789 broke a new record in an auction for the Glide Foundation Friday night. The money will go toward benefiting San Francisco's homeless population.
In the past 13 Glide Foundation auctions, Buffett has raised $11.5 million — so this one lunch is a significant chunk. Last year's lunch cost hedge fund manager Ted Weschler $2,626,411. (And lest you think Weschler's cheap, he also got the winning bid on lunch with Buffett the year before, paying a total of $5.3 million.)
President Barack Obama and Warren Buffett in t...
President Barack Obama and Warren Buffett in the Oval Office, July 14, 2010. (Photo credit: Wikipedia)
What does one discuss at lunch with Warren Buffett? Surely not money-making tips, if you can already afford to fork over a few million dollars to charity. Maybe you just high-five because you've both managed to make an exorbitant amount of money that you're willing to share with a good cause.
And then you argue over splitting the check.

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