Buffett's Annual Lunch Sets Record

by Deidre Woollard (RSS feed)
Jun 30th 2008 at 8:02PM

Here's a unique mark of inflation, Warren Buffett's annual auctioned lunch brought in more than three times the amount that it did last year. Last year, the lucky luncher bid $650,100 but this year, Chinese businessman Zhao Danyang offered $2.1 million to lunch with the famous investor at the Smith and Wollensky steakhouse in New York. Back in 2005, the winning bidder paid just $351,100 for the privlege.

The proceeds go to a non-profit foundation which fights poverty and homelessness.. So far Buffett has raised over $4 million but selling himself each year but his biggest charitable move has been his declaration that he will give the bulk of his fortune to the charitable foundation set up by Bill and Melinda Gates.

[Thanks, Ben]!

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