Warren Buffett charity lunch sells for $2.68 million

0606_Warren_Buffett_annual_lunch_01

A private lunch with billionaire Warren Buffett has been sold to the highest bidder for more than $2.6 million during an annual charity auction.

The victor, who wished to remain anonymous, will get to lunch with Buffett and bring along seven friends at New York's Smith and Wollensky steakhouse, where the lunch is typically held.

For the 18th consecutive year, Buffett auctioned off a lunch to raise money for the Glide Foundation, which helps homeless people in San Francisco. This year's eBay auction starts Sunday, June 4, 2017, at 7:30 p.m. PDT and runs through Friday. That's lower than last year's winning bid of $3,456,789, which tied for the record set in 2012. Proceeds benefit Glide, a San Francisco charity that serves meals to the homeless, hosts support groups through its women's center for abuse victims and provides treatment for drug addiction. Buffett's first wife, Susie, volunteered with the organization before her death in 2004.

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"Everyone that has experienced Glide comes away a believer", Buffett said in a statement last month. The chairman and CEO of Berkshire Hathaway has raised almost $24 million through the auctions. "They have to see it to believe it, but when they see it, they do believe it". If the victor chooses to remain anonymous the lunch has sometimes been held elsewhere. Last year's victor paid $3,456,789, which tied the record set in 2012.

Back in 2006, Buffett vowed to give more than 99 percent of his state to philanthropic causes.

Donors who don't have seven figures to shell out can still make donations to Glide on eBay. The winning stake rose to $2,679,001 less than two minutes before the sale ended.

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