Meal deal: $1M lunch with Warren Buffett
An anonymous auction winner will dine with the 'Oracle of Omaha' for the lowest price in 6 years.
Millionaires normally shell out $3 million to $4 million to have lunch with Buffett at Smith & Wollensky in New York. The lunch is auctioned off annually to raise funds for Glide, a San Francisco charity.
But this year's winner is paying the lowest amount in six years: $1,000,100. The anonymous winner was the highest bidder in a five-day auction on eBay (EBAY), Reuters reported. The auction received 106 bids.
The charity supported by the auction was stunned at the low amount, reports the San Francisco Business Times. Some auction observers wondered if there had been a glitch in eBay's system, but eBay said that was not the case, wrote reporter Mark Calvey. Last year's winning bid of $3.5 million contributed about 20% of Glide's annual budget. The charity is now facing budget cuts.
Sometimes the Buffett lunch is money well spent. Fund manager Ted Weschler won the auction in 2010 and 2011, spending $2.6 million each time, and later accepted an offer of employment from Buffett to join Berkshire Hathaway (BRK.A).
So what happened this year? Is it some form of Buffett deflation? Or maybe rich fund managers now have better ways to spend their money?
More on moneyNOW
- 9 things to know about Edward Snowden
- Meet the state with America's strongest economy
- What's the point of car dealerships anymore?
The only person that ever walked this earth I would pay to have lunch with is Jesus Christ. And he's probably the only person that ever walked this earth that wouldn't accept the money.
I would like to have pie and coffee with Warren, just interesting to talk to...Not pick his brain.
I would pay for the pie and coffee for both...And maybe the tip??
Kinda afraid to Lunch with Jesus, Possibilty that I could burst into flame...
Copyright © 2014 Microsoft. All rights reserved.
[BRIEFING.COM] The stock market ended the Thursday session on an upbeat note with blue chips showing relative strength for the second consecutive day. The Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.3%) settled ahead of the Russell 2000 (+0.2%) and the Nasdaq Composite (+0.1%). It is worth mentioning the benchmark index posted its fourth consecutive gain, registering a new record closing high at 1992.38.
Equity indices climbed out of the gate thanks to early strength among ... More
More Market News
New legislation is allowing foreign companies to finally invest in the country's vast oil reserves.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'