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Warren Buffett to auction another charity lunch

May 06 2015 10:15

Omaha - Billionaire investor Warren Buffett has once again agreed to have lunch this year with the winner of an auction to benefit a San Francisco charity.

The 16th annual auction to benefit Glide, which provides food and services to the poor and homeless, will be held on eBay from May 31 to June 5, the charity said on Tuesday.

Past auctions have raised about $17.8m, including a record $3 456 789 from an anonymous bidder in 2012. Last year's winner, Andy Chua of Singapore, bid $2 166 766.

Other winners have included hedge fund manager David Einhorn of Greenlight Capital, and Ted Weschler, now a portfolio manager at Buffett's Berkshire Hathaway. Weschler won two auctions, bidding $2 626 311 in 2010 and $2 626 411 in 2011.

As in past years, this year's winner and up to seven friends will have a private lunch with Buffett at the Smith & Wollensky steakhouse in Manhattan.

The auctions began in 2000 after Buffett was introduced to Glide by his first wife, Susan, who died in 2004.

Glide was co-founded by the Reverend Cecil Williams, a community leader and longtime pastor at Glide Memorial United Methodist Church in San Francisco's Tenderloin district.

"Glide helped me understand just how much a life can be transformed by unconditional love and some real material help," Buffett said in a statement provided by Glide.

Buffett is worth about $71.8bn, ranking third worldwide, Forbes magazine said on Tuesday. He has run Omaha, Nebraska-based Berkshire for 50 years.

warren buffett  |  us  |  economy  |  charity


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