In what’s being called “the grande finale,” Warren Buffett will auction off a final luncheon for the San Francisco-based charity Glide, reports Bloomberg. Buffett has been hosting the lunch for the charity since 2000, though the last two years were cancelled due to the pandemic.
Over the past two decades, Buffett’s lunch has raised over $34 million for Glide, which helps those experiencing poverty and homelessness. This year, the lunch will be held at the famed New York steakhouse Smith & Wollensky, and as many as 7 guests will have the opportunity to dine with the legendary investor, who is the world’s 5th richest person, according to Bloomberg. Past winners have included Greenlight Capital’s David Einhorn and Ted Weschler—who then went on to work for Buffett at Berkshire Hathaway—as well as cryptocurrency entrepreneur Justin Sun.
The auction opens on June 12th, and bidding starts at $25,000. Since 2008 winning bids have been over $1 million, and bidders must pre-qualify in order to enter the auction. It was Buffett’s late wife Susan who encouraged him to get involved with the charity more than 20 years ago, the article explains, and Buffett has stated publicly that he plans to give away most of his wealth to charity. Indeed, he hit the halfway mark in that endeavor last year. “Warren Buffett’s friendship and generosity over the past 22 years have been invaluable in deepening Glide’s impact….” said Glide CEO Karen Hanrahan. “His legacy will have a lasting positive impact on Glide and the clients we serve.”