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View Full Version : $250k lunch with Warren Buffett?


Moe
July 11th 03, 06:33 PM
SAN FRANCISCO (July 11) - One possible sign of better economic times: a New
York luncheon date with stock market sage Warren Buffett fetched $250,100 in an
online charity auction.

The winning bid Thursday night was nearly eight times more than the highest
price paid for previous private lunches with Buffett. The 72-year-old
investment guru has been auctioning the lunches annually since 2000 to raise
money for the San Francisco-based Glide Foundation, a charity that helps the
homeless.

The identity of the winning bidder was not immediately released, according to
the Rev. Cecil Williams, Glide's chief executive.

As the bidding on eBay heated up, participants had to submit credit card and
bank account numbers to prove they could afford to break bread with Buffett,
whose estimated $30.5 billion fortune ranks him as the world's second richest
man behind Microsoft co-founder Bill Gates.

A total of 141 bids were submitted over two days.

For the money, the winner and up to 10 friends get lunch with Buffett in May
2004 in New York. If the winner needs investment advice sooner, he or she can
come to Omaha, Neb., the hometown of Buffett and his company, Berkshire
Hathaway.

Known as the Oracle of Omaha for his stock-picking prowess, Buffett's insights
have always been in high demand, making his annual report to Berkshire
shareholders a must-read among the investment cognoscenti.

In previous auctions for Buffett lunches, the winning bids had ranged from
$25,000 to $32,000. This was the first auction online.

The previous lunches were all held in San Francisco, home of the dot-com boom
of the 1990s. Buffett, however, decided it was time to tap into New York's vast
wealth by selling a lunch date in the nation's financial capital.

Even still, the appetite for a lunch with Buffett astonished Williams.

``All I can say is, 'Oh my God, this is really something,''' Williams said.
``We are going to be dancing in the streets tonight.''

07/11/03 11:34 EDT