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Created a record $ 4.57 million for a Buffett Charity auction for the annual program.

Buffett's charity auction breaks records with $ 4.57 million bid


Winning offers for a Buffett Charity Lunch Auction made $ 4.57 million record for the annual program. The winner, who opted for anonymity, could bring seven friends to eat with billionaire investor in Smith & Wollensky steakhouse in New York.


Buffett's auction fund raises funds for charity Glide, a charity based in San Francisco, which was supported by his late wife Susan Buffett. The auction has given Glide more than $ 30 million over the decades because bids have been increased from thousands of dollars to millions in the early years. In his various programs, Glide provides food to homeless in San Francisco, provides domestic violence assistance to victims and helps people find shelter.

"Many trend lines around homelessness, poverty and inequality are getting worse. The lines outside our doors are getting longer, "Glide Chief Executive Officer Karen Hanharan said in a phone interview last week before the auction began. "We have raised the money with Warren Buffett, he has been responsible for the community and has been responsible for the needs of the city."

While some bidders choose to remain anonymous, some big names have given the opportunity to dine with the billionaire investor. In 2003, David Einhorn of GreenLight Capital was the highest bidder. Ted Wescller won two auctions and was later hired by Buffett's Berkshire Hathaway Inc. as an investment deputy.

Buffett's charity auction breaks records with $ 4.57 million bid
Winning offers for a Buffett Charity Lunch Auction made $ 4.57 million record for the annual program.
Bloomberg | June 01, 2019, 10.50 AM IST

The Bidding War, which started late on Sunday, got hot in the early days of the week and became quite quiet on the last day of the auction. Then on Friday, there were a handful of bids, which were more than $ 4 million.

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