Buffett’s Final Charity Lunch Gets 8-Figure Bids

The winner of the auction can bring up to seven guests to chow down with Warren Buffett at Smith & Wollensky in New York City.

How much would you pay to dine with investment legend Warren Buffett, the Oracle of Omaha?

At least one person is prepared to shell out more than $13 million for the final annual charity lunch that Buffett has conducted since 2000. There was no luncheon in 2020 and 2021, thanks to the pandemic and Buffett has indicated this will be the last one.

The winner of the auction can bring up to seven guests to chow down with Buffett, 91, at Smith & Wollensky, the famed steak house in New York City. The bidding, which takes place on eBay, ends at 10:30 p.m. ET June 17.

As of late June 16, the leading bid surpassed $3 million, Bloomberg reports. But by about 4:15 p.m. June 17, that had quadrupled to $13.1 million.

Whoever wins the gustatory prize will smash the $4.57 million record set by cryptocurrency entrepreneur Justin Sun in 2019.

The proceeds go to San Francisco-based Glide, an organization that fights poverty and homelessness.

Morningstar Likes Berkshire

As for Buffett’s company, Berkshire Hathaway  (BRK.B) – Get Berkshire Hathaway Inc. Report, Morningstar analyst Greggory Warren gives it a wide moat and puts fair value for the stock at $367. It recently traded at $268.

“We continue to view Berkshire’s decentralized business model, broad business diversification, high cash-generation capabilities, and unmatched balance sheet strength as true differentiators,” he wrote in a commentary

“While these advantages have been overshadowed by an ever-expanding cash balance, … we believe the company has finally hit a nexus where it is far more focused on reducing its cash hoard through stock and bond investments and share repurchases.”

Buffett was worth $93.2 billion as of June 17, ranking him No. 7 in the world, according to Forbes.

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