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By Jonathan Stempel
(-) – An nameless bidder has agreed to pay a file $4,567,888 at an annual charity public sale to have a personal lunch with Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc . (NYSE:)
The successful bid, which was submitted throughout a five-day on-line public sale on eBay (NASDAQ:) that ended Friday night time, was almost one-third greater than the earlier file $3,456,789 bids in each the 2012 and 2016 auctions.
Proceeds profit the Glide Foundation, a charity in San Francisco’s Tenderloin district that serves the poor, homeless or these battling substance abuse.
Buffett, 88, has raised about $34.2 million for Glide in 20 annual auctions, which started in 2000 and moved to eBay in 2003. His first spouse Susan, who died in 2004, launched him to Glide after volunteering for the charity.
“Mr. Buffett is thrilled. We simply spoke with him,” Glide President Karen Hanrahan informed – after the public sale ended. “Mr. Buffett is dedicated to persevering with the public sale so long as he is ready. He has been a thought associate in considering via Glide’s future, and methods to set it up for the subsequent 50 years.”
The successful bidder and as much as seven buddies can dine on the Smith & Wollensky steakhouse in Manhattan with Buffett, who says he’ll talk about something aside from his subsequent investments.
This yr’s public sale drew 18 bids from 5 bidders.
The prime bid would even be sufficient to purchase 15 Class A or 23,137 Class B shares of Omaha, Nebraska-based Berkshire, whose greater than 90 companies embrace auto insurer Geico and BNSF railroad.
Past public sale winners have included hedge fund supervisor David Einhorn of Greenlight Capital in 2003, and Ted Weschler, now considered one of Buffett’s portfolio managers at Berkshire, in 2010 and 2011.
Glide’s finances goes towards offering roughly 2,000 free meals a day, shelter, HIV and Hepatitis C checks, job coaching, and youngsters’s daycare and after-school applications.
“What it means to us as a company: It’s enormous,” Hanrahan stated, referring to the public sale. “It’s going to assist many many hundreds of individuals on this metropolis.”
According to Glide, these bidders have gained its auctions:
2000: Pete Budlong, $25,000
2001: Jim Halperin and Scott Tilson, $20,000
2002: Jim Halperin and Scott Tilson, $25,000
2003: David Einhorn, Greenlight Capital, $250,100
2004: Jason Choo, Singapore, $202,100
2005: Anonymous, $351,100
2006: Yongping Duan, California, $620,100
2007: Mohnish Pabrai, Guy Spier, Harina Kapoor, $650,100
2008: Zhao Danyang, Pure Heart Asset Management, China, $2,110,100
2009: Courtenay Wolfe, Salida Capital, Canada, $1,680,300
2010: Ted Weschler, $2,626,311
2011: Ted Weschler, $2,626,411
2012: Anonymous, $3,456,789
2013: Anonymous, $1,000,100
2014: Andy Chua, Singapore, $2,166,766
2015: Zhu Ye, Dalian Zeus Entertainment Co, China, $2,345,678
2016: Anonymous, $3,456,789
2017: Anonymous, $2,679,001
2018: Anonymous, $3,300,100
2019: Anonymous, $4,567,888