News Digest

Fancy a lunch with Warren Buffett? That’ll be $2.3M

A Chinese company that develops online games bid more than $2.3 million Friday to win a private lunch with Warren Buffett. Beijing-based Dalian Zeus Entertainment Co. bid $2,345,678 to win the online auction. The proceeds will go to the Glide Foundation, which uses the auction proceeds to help the poor and homeless in San Francisco. Many people want Buffett’s advice because the 84-year-old is revered as an investor and philanthropist. Buffett is chairman and chief executive of Berkshire Hathaway, and more than 40,000 people attended the company’s annual meeting in May to listen to Buffett answer questions.

Every year, it’s an interesting experience for me. I’ve met a lot of great people in connection with it. Made new friends. Hired a person. Had a lot of good steaks, so I can’t complain.

Warren Buffett

Buffett has said the lunches generally last at least three hours and cover a variety of topics. The only topic off-limits is what Buffett plans to invest in next. One past winner, Ted Weschler, received a job offer after spending nearly $5.3 million to win the 2010 and 2011 auctions. Weschler now works as an investment manager for Berkshire and gets to chat with Buffett on a regular basis. The winners of the lunch auction often dine at Smith & Wollensky steakhouse in New York City, which donates at least $10,000 to Glide each year to host the lunch.