Last year’s charity lunch with Warren Buffett, the CEO of Berkshire Hathaway and arguably one of the world’s best-known and most knowledgeable stock investors, cost a California-based investor $650,000. For that sum, the Californian and seven of his closest friends had lunch with Mr. Buffett at Smith & Wollensky, a storied New York City steakhouse.
The bidding on eBay for this year’s charity lunch, also to be held at Smith & Wollensky, began yesterday and ends on June 27. At present the lunch is being valued at $41,100 (the highest of five current bids).
All proceeds raised from the auction will go to the Glide Foundation, an organization that is working to alleviate human suffering and poverty in the San Francisco Bay Area. Mr. Buffett’s charity lunches have raised more than $2.0 million for the organization since going online in 2003.
Personally, I think this would be the opportunity of a lifetime, but few of us have enough disposable income for a $650,000 steak (and maybe a glass of wine and a side dish of potatoes au gratin). Even split eight ways, that’s a hefty $81,250 per person. I guess I’ll just have to log on the Internet for free after the event to see how it went and whether Mr. Buffett provided any sage investing advice for today’s climate.
Given the extreme turmoil in the financial markets of late, how much would you pay for the ability to hear what Mr. Buffett has to say? Tune back in after June 27 to see the winning bid.
– Laurie Berman, Senior Vice President, email@example.com