Warren Buffett's Exclusive Lunch Auction Returns to Raise Money for California Homeless Charity

Strategic Insights -

Warren Buffett, CEO of Berkshire Hathaway, has announced the revival of his exclusive lunch auction to raise money for the Glide Foundation, a California-based charity that helps the homeless in San Francisco. The auction has been on hiatus for the past two years due to the pandemic, but it will return this spring with an opening bid of $25,000. The winner will get to bring up to seven people to eat with Buffett at the Smith & Wollensky steak house in New York City, with the only topic off-limits being what Buffett might buy next.

Key Takeaways:

  • The exclusive lunch auction will be held on eBay from June 12 to June 17, with the winner getting to bring up to seven people to eat with Buffett at the Smith & Wollensky steak house in New York City.
  • The auction has been held annually for 20 years, with every winning bid since 2008 topping $1 million (U.S.).
  • Warren Buffett has raised nearly $34.5 million for the Glide Foundation over the years, with the charity providing meals, health care, job training, rehabilitation, and housing support to the poor and homeless.
  • Buffett first got connected to Glide through his late wife, Susie, who volunteered at the charity.
  • Berkshire Hathaway owns more than 90 companies, including Geico insurance, BNSF railroad, and major investments in companies such as Apple, Coca-Cola Co., American Express, and Bank of America.
  • The charity's president and CEO, Karen Hanrahan, praised Buffett's "friendship and generosity over the past 22 years" as "invaluable" to the charity.

Statistics:

  • The auction has raised nearly $34.5 million for the Glide Foundation over the years.
  • Every winning bid since 2008 has topped $1 million (U.S.).
  • The largest winning bid was $4,567,888, paid by a cryptocurrency pioneer in 2019.
  • The charity has provided meals, health care, job training, rehabilitation, and housing support to the poor and homeless for over 70 years.

Sources:

  • The Associated Press
  • Glide Foundation