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Warren Buffett lunch instructions report $3.5 million as charity public sale nears homestretch


Warren Buffett lunch instructions report $3.5 million as charity public sale nears homestretch

FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks by means of the exhibit corridor as shareholders collect to listen to from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder assembly in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan

(Reuters) – The price of a personal lunch with Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc, sat at a report $3,500,100 on Thursday afternoon, with a day to go in an annual charity public sale.

Bidding started on Sunday at $25,000 within the on-line public sale, run by eBay, and by late Monday had already topped the report $3,456,789 provided by nameless bidders in each the 2012 and 2016 auctions.

Proceeds will profit the Glide Foundation, a San Francisco charity that serves people who find themselves poor, homeless or battling substance abuse. The public sale ends on Friday at 10:30 p.m. EDT (0230 GMT Saturday).

Buffett has raised $29.6 million for Glide in auctions that started in 2000. His first spouse Susan, who died in 2004, launched him to Glide after volunteering there.

The profitable bidder and as much as seven associates can dine with Buffett on the Smith & Wollensky steak home in Manhattan.

Past winners have included Ted Weschler, who paid a mixed $5.25 million to win each the 2010 and 2011 auctions. He now works alongside Todd Combs as a Berkshire portfolio supervisor.

Weschler has mentioned he first met Buffett after profitable the 2010 public sale. He selected to satisfy in Omaha, Nebraska, the place Berkshire is predicated, reasonably than at Smith & Wollensky.

“I used to be anticipating sort of a stiff hour or so assembly, and it ended up being this lengthy go to on the workplace and a terrific dinner,” Weschler advised CNBC in 2014.

Some auctions for Glide have led to bidding wars within the last hour. Whether that happens this yr is dependent upon how many individuals in a position to drop tens of millions of {dollars} for lunch take part. Only 4 folks have submitted bids to this point.

Reporting by Jonathan Stempel in New York; Editing by Jennifer Ablan and Steve Orlofsky

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