eBay bidder wins lunch with Buffett for $2.62m

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It takes millions of dollars to have lunch with legendary investor Warren Buffett, and a bidder has snatched the opportunity by agreeing to shell out $2.62 million in an online charity auction.
According to sources, the winning bidder wished to remain anonymous.
This year, the highest bid was much more than last year’s bid price of $1.68 million and about 24 per cent higher than the previous record, set in 2008 at $2.11 million. The proceeds from the auction, conducted every year on online marketplace eBay, would go for charity purposes.
According to information available on the eBay website, the highest bidder has offered to pay $2.62 million following a six-day auction which ended on June 11.
The opening bid was $25,000. The winner of the auction and seven others would get to dine with Buffett at the Smith & Wollensky steakhouse in New York. The auction proceeds would go to Glide Foundation, an institution that helps alleviate poverty in the San Francisco bay Area.
“This (charity amount) will help Glide continue to serve those most in need. We work very hard for those severely in need,” said Glide founder Rev Williams.
Buffett, chief executive of investment and insurance group Berkshire Hathaway, has described Glide as “...Maybe the most effective organisation I’ve seen for people down on their luck.”
The record amount which was bid till now on the annual auction was $2,110,100 by Hong Kong-based investor Zhao Danyang in 2008.
Last year, Salida Capital Corp, a Toronto-based wealth management firm, had won the online auction for the power lunch with Mr Buffett with a $1,680,300 bid.