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Warren Buffett's Charity Lunch Auction Reaches Record $2.63 Million

Strategic Insights

Jun 14, 2010 — 1 min read

Warren Buffett, the billionaire investor, has once again organized his annual charity lunch auction, with this year's event reaching a record $2.63 million. The auction, which was run on eBay, saw fierce bidding throughout the week-long event, with 77 offers being made in the final frenzy on June 11. The proceeds of the auction will go to the Glide Foundation, a charity favored by Buffett's late wife, Susan. Buffett's reputation as a shrewd investor has been enhanced in recent years, despite the global credit crisis, and his company Berkshire Hathaway has prospered without the need for a US bailout.

Key Takeaways:

The charity lunch auction, organized by Warren Buffett, has raised a record $2.63 million for the Glide Foundation.
The auction saw fierce bidding throughout the week-long event, with 77 offers being made in the final frenzy on June 11.
The proceeds of the auction will go to support Glide Foundation, a charity favored by Buffett's late wife, Susan.
Warren Buffett's reputation as a shrewd investor has been enhanced in recent years, despite the global credit crisis.
Berkshire Hathaway, led by Buffett, prospered without the need for a US bailout.
Buffett's net worth was estimated at $47 billion by Forbes magazine in March 2010.
Buffett has been under pressure to discuss the financial crisis and the company's investments in firms that contributed to the housing slump.

Statistics:

$2.63 million: The record amount raised at the charity lunch auction.
77: The number of offers made in the final frenzy on June 11.
$44 billion: The cash cushion built by Berkshire Hathaway by the end of 2007.
$27 billion: The amount of the Burlington Northern Santa Fe buyout.
May 2008: The time when firms seeking capital appealed to Buffett for support.
2004: The year in which Susan, Buffett's first wife, passed away.
2010: The year in which Forbes magazine estimated Buffett's net worth at $47 billion.

Sources:

Bloomberg News (exact date not specified)
Forbes magazine (March 2010)
Toronto Star (exact date not specified)

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