Warren Buffet Hosts the Most Expensive Lunch in the World

Warren Buffett1 Warren Buffet Hosts the Most Expensive Lunch in the WorldWarren Buffet CEO of Berkshire Hathaway has done it again with his annual charity lunch auction held in San Francisco on Friday night being an enormous success with more than $2.6 million being raised for a needy organization.

This was a new record in donations for the event that will see the winner and a party of up to eight join Mr. Buffett at his favorite restaurant, the New York City steakhouse, Smith & Wollensky.

This new donation beats the previous record of $2.1 million by fund manager Zhao Danyang who manages Pure Heart Asset Management, based in Hong Kong.

The sale itself was conducted online by auction giant eBay Inc. with proceeds heading for the Glide Foundation, a very notable charity serving the homeless citizens of San Francisco and where Mr Buffett’s late wife Susan, had been a volunteer.

The anonymous winning bidder will enjoy what has to be the world’s most expensive steak. Obviously the company at the table will be more looked forward to than the meal. Being that the mystery bidder will be dining and conversing with one of the most successful billionaire investors in the world Warren Buffett.

Last year’s high bidder was the Canadian investment firm Salida Capital, which donated $1.68 million to the noted charity auction. As with most auctions, the majority of the action occurred in the dying last few minutes, with bids flying thick and fast. The official final tally reached a respectful figure of $2,626,311 which is quite a remarkable donation for any charity to receive.

This admirable donation is greatly needed due to the added pressures put on the Glide Foundation brought on by the economic downturn and will help feed and support many needy people.

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Posted by on Jun 12 2010. Filed under Business, Featured News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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