Bidding begins for lunch with Warren Buffett

  @CNNMoneyInvest June 3, 2013: 9:27 AM ET
warren buffett lunch

Warren Buffett's annual charity lunch auction has raised more than $9 million in the last four years.

NEW YORK (CNNMoney)

Bidding for the most expensive power lunch of the year kicked off Sunday evening, with investment guru Warren Buffett's annual effort to raise money for a poverty-fighting charity.

This is the 14th year that Berkshire Hathaway (BRKA, Fortune 500) CEO Buffett is auctioning off a lunch for eight on eBay. (EBAY, Fortune 500) Proceeds for the lunch, which will be held at New York City steakhouse Smith & Wollensky, will go to San Francisco charity GLIDE, which fights poverty and serves about 800,000 meals each year to the poor.

Last year's winning bid was close to $3.5 million from an anonymous bidder. Since it began in 2000, the auction has raised more than $15 million for the charity, with $9 million of that coming in the last four years alone.

The bidders must all be pre-qualified. Bidding started Sunday evening at the minimum $25,000 price and had reached already over $130,000 by Monday morning.

Related: Warren Buffett is bullish ... on women

Buffett has become one of the world's leading philanthropists. He is giving away the bulk of his fortune worth tens of billions, with the largest donation going to the Bill & Melinda Gates Foundation, the charity run by his friend, Microsoft (MSFT, Fortune 500) founder Bill Gates.

How Warren Buffett defines success

Buffett has also has started The Giving Pledge, an effort that has signed up more than 100 billionaires around the globe, who have pledged to donate half of their net worth during their lifetime, or at their death.

To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,484.62 -17.03 -0.10%
Nasdaq 4,140.93 13.96 0.34%
S&P 500 1,876.20 0.81 0.04%
Treasuries 2.70 0.01 0.34%
Data as of 2:21pm ET
Company Price Change % Change
Facebook Inc 61.21 -0.15 -0.24%
Bank of America Corp... 16.41 0.04 0.24%
Micron Technology In... 26.22 -0.03 -0.11%
Verizon Communicatio... 46.16 -1.27 -2.68%
General Motors Co 33.94 -0.45 -1.31%
Data as of 2:06pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.28%4.41%
15 yr fixed3.30%3.33%
5/1 ARM3.30%3.34%
30 yr refi4.31%4.39%
15 yr refi3.35%3.31%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.