Buffett lunch auction bids exceed $2 million

@CNNMoney June 7, 2011: 8:19 AM ET
Buffett auction bids exceed $2.3 million for lunch

Warren Buffett, shown here at the 'Too Big to Fail' movie premiere in New York on May 16, has raised more than $2.3 million for his annual fundraising power lunch.

NEW YORK (CNNMoney) -- Bidding on Warren Buffett's auction of an annual fundraising power lunch easily eclipsed $2 million by Tuesday, with four days of bidding yet to go.

A special eBay page began accepting bids Sunday. The opening bid was $25,000, and after seven bids the going price reached $2,345,678 by Tuesday morning.

At the current pace, the bidding could exceed last year's record of $2.6 million.

The winner buys the opportunity to have lunch with Buffett, and up to seven guests of the winner's choice, at the Smith & Wollensky steak house in New York. The proceeds will go towards Glide, an organization that benefits poverty-stricken residents of the San Francisco Bay area.

The curse of being 'the next Warren Buffett'

Buffett, chairman of investment firm Berkshire Hathaway (BRKA, Fortune 500), is a billionaire and philanthropist who famously gave much of his wealth to another billionaire philanthropist: Microsoft (MSFT, Fortune 500) co-founder Bill Gates, of the Bill & Melinda Gates Foundation.

Bidding will continue until Friday at 10:30 p.m. ET.

The timing of the lunch is agreed upon by Buffett and the winning bidder. To top of page

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