Warren Buffett, the iconic investor with a personal net worth of $84 billion, is a charitably social individual.
For the last two decades, Buffett has entertained business lunches with strangers for the sake of worthy charities.
The 20th annual “Power Lunch With Warren Buffett” just went to an anonymous bidder for $4,567,888.
The charity lunch was coordinated by Buffett, eBay, and the Glide Foundation, a San Francisco-headquartered charity that tackles poverty and homelessness.
All of winning bid will be donated to the Glide Foundation to further its services.
The Power Lunch auction entertained bids on eBay from May 26 to May 31, 2019. The sit-down will take place at the famed Smith & Wollensky steakhouse in New York City.
Buffett and the Glide Foundation have been participating in the Power Lunch for more than 20 years. Since that time, Buffett and Glide have raised more than $30 million for charity.
Displayed prominently on its Ebay site, Glide’s mission “is to break the cycles of multi-generational dependency, poverty, and low self-worth by providing a spiritual home of unconditional love.”
The Glide Foundation is allied with the Memorial United Methodist Church.
Since 2000, the winning bids for successive lunches have only increased. In 2000, for example, the winning bid was only $25,000.
The winning bid for the Buffett Power Lunch in 2018 was for $3,456,789. In 2017, the winning bid was $2.5 million.
In 2007, businessmen Guy Spier and Mohnish Pabrai spent $650,000 each, for a total of $1.3 million, to dine with Buffett in 2007.
The duo found the experience to be priceless. “I think we would have been willing to pay a lot more than that … Well worth it,” said Pabrai.
Spier and Pabrai said that Buffett imparted three pieces of advice to them. Notably, conduct business with integrity, be comfortable saying no when you must, and always do what you love.
Small-cap winners galoreThe big stock market winners share one common attribute: Near the beginning of the ascent of their shares, the companies offer revolutionary products or services, are market leaders in their respective industries, or both. Some big stock market winners that possessed the attributes outlined above are Netflix (NFLX), which we recommended to investors in October 2002; Intuitive Surgical (ISRG), which we bought and recommended in July 2004; Baidu.com (BIDU), which we bought and recommended in August 2006; and MercadoLibre (MELI), which we recommended to investors in October 2010. Get up-to-date small-cap stock picks from David Frazier, editor of Small-Cap Profit Confidential.
Smarter cryptocurrency investmentsThe stock market crash of 2008 was the catalyst for his journey into alternatives. And interestingly, it was the impetus behind the creation of Bitcoin and the blockchain technology behind it. Keene Little wasn’t ready to risk his money yet but he was very curious, so he began charting Bitcoin’s technical patterns. What finally convinced him to dip a toe into digital currencies was seeing that they followed familiar price patterns that could be analyzed and successfully acted on. Now he shares those insights with subscribers to the Crypto Wealth Protocol.