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Power lunch with Warren Buffett for $4.5 million

San Francisco: A man has agreed to shell out over $4.5 million for lunch with  Warren Buffett, breaking the previous record for a “power lunch” with the Berkshire Hathaway founder, the media reported. This is the 20th year that Buffett, famous for making it to age 88 on a diet of Coca Cola, Utz potato sticks, Dairy Queen Sundaes, and fast food from McDonald’s, has auctioned off such a “power lunch”, Quartz reported on Monday.

The winner committed $4,567,888 when the bidding closed on eBay on May 31. In 2001, a meal with Buffett cost a commoner just $20,000. But the price jumped once online  auction started on eBay. In 2008, it reached over $2 million and later touched a record of $3.45 million in 2014 and 2016.

The lunch will benefit the Glide Foundation in San Francisco, according to a report in the San Francisco Chronicle. Since bidding shifted to eBay 17 years ago, no lunch with Buffett has cost less than $1 million, Debbie Mesloh, Glide’s spokeswoman for this year’s event was quoted as saying. Every year, Buffett holds the lunch at Smith Wollensky in New York. The winning bidder is allowed to bring up to eight guests for the power lunch. The restaurant charges nothing and donates $10,000 to Glide, San Francisco Chronicle reported.

Article source: https://www.freepressjournal.in/business/power-lunch-with-warren-buffett-for-4-5-million/1539132

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