June 17 (Reuters) – A fortunate, and most likely rich, individual bid more than $19 million to dine with Warren Buffett, in the 21st and last time that the billionaire entrepreneur auctioned a personal lunch to benefit a San Francisco charity.
The winning bid in the eBay auction that ended on Friday night far went beyond the previous record of $4.57 million, paid in 2019 by cryptocurrency business owner Justin Sun, although the brand-new winner’s identity might not right away be identified.
Earnings benefit Glide, a not-for-profit in San Francisco’s Tenderloin district that assists the bad, homeless or those fighting drug abuse. Slide deals meals, shelter, HIV and liver disease C tests, task training and kids’s programs.
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Buffett, 91, the chairman and president of Berkshire Hathaway Inc ( BRKa.N), has actually raised more than $53.2 million for Glide in the 21 auctions, which started in 2000.
An eBay spokesperson stated the lunch was the most pricey product ever offered on the business’s site to advantage charity.
No auctions were kept in 2020 and 2021 due to the fact that of the COVID-19 pandemic.
Buffett ended up being an advocate of Glide after his very first better half Susan, who passed away in 2004, presented him to the charity, where she had actually been offering.
He has actually likewise promised to hand out almost all of his fortune. Buffett deserved $93.4 billion on Friday, ranking seventh around the world, according to Forbes publication.
This year’s auction winner and as much as 7 visitors will dine with Buffett at the Smith & & Wollensky steakhouse in Manhattan.
Buffett will discuss practically anything, however not where he might invest next.
Hedge fund supervisors David Einhorn and Ted Weschler are amongst previous auction winners.
Weschler ended up being a Berkshire portfolio supervisor after paying a combined $5.25 million to win the 2010 and 2011 auctions.
Berkshire owns lots of business consisting of the BNSF railway, Geico automobile insurance coverage, energy, production and retail companies, and stocks such as Apple Inc ( AAPL.O) and Bank of America Corp ( BAC.N)
Buffett still owns almost 16% of the Omaha, Nebraska-based corporation, regardless of having actually contributed majority of his shares because 2006, consisting of $4 billion on June 14. learnt more
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Reporting by Jonathan Stempel in New York City, Extra reporting by Jahnavi Nidumolu in Bengaluru; Modifying by David Gregorio and Clarence Fernandez
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