Tags: Buffett | Charity | Lunch | bid

Warren Buffett Charity Lunch Auction Draws $25,000 Initial Bid

By    |   Monday, 04 June 2012 02:04 PM

Warren Buffett’s charity lunch auction, an annual fundraiser for the Glide Foundation, drew a an initial bid of $25,000 in the first full day of the weeklong event that raised a record $2.63 million last year, Bloomberg reported.

The bid was recorded on eBay Inc.’s website at about 9:18 a.m. San Francisco time.

Meanwhile, it's true that Buffett hired the hedge fund manager who won the last two private lunches with him that are part of an annual auction, but he's not expecting the event to become a recruiting tool for Berkshire Hathaway, the Associated Press reported.

Rather, Buffett says it's miraculous that he found one of Berkshire's two new investment managers through the lunch.

He offered Ted Weschler a job after he'd paid nearly $5.3 million over two years to dine with Buffett.

Buffett told the Associated Press that Berkshire is now perfectly situated with money managers.

Buffett says he just hopes the online auction will again raise a significant amount of money for the Glide Foundation, which provides social services to the poor and homeless in San Francisco.

Bidding began Sunday and concludes Friday evening.

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Monday, 04 June 2012 02:04 PM
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