Warren Buffett has been hosting lunch auctions since 2000. The idea was created by his wife Susan Warren. This lunch auction has raised almost $30 million dollars since hosting the lunch auction. All the money raised from this lunch auction is donated to a charity in California named Proceeds Benefit Glide. This charity provides support groups to women who have been abused. They also provide treatment for drug addicts in recovery. In addition, this charity center feeds the homeless.
With this being said, Warren is more than happy each year to host this lunch auction to help Proceeds Benefit Glide. The auction usually takes place each year in early summer. So far, 2016 has been the best year for the company. In 2016, the winner of the online auction paid $3.46 million to have lunch with Warren.
This year’s auction took place on eBay. The auction took place for a total of five days. During the auction, Buffett received more than 40 offers. In the end, the winning bidder committed to paying $2.68 million to have lunch with Warren. Details on the winner have not been revealed since he prefers to remain anonymous.
As soon as Warren received the donation, all funds were immediately sent to Proceeds Benefit Glide. The winner of the auction can bring seven friends with he or she to have lunch with Warren. Like the past years, the lunch will be held at the Smith & Wollensky Steakhouse, located in New York.
This year’s auction will be taking place very soon. Warren Buffett also offers those who do not have millions to donate a chance to donate as well. These donations can be given to Glide on eBay. Some rewards for giving a range from complimentary legal consultations to complimentary lunches for two.