Warren Buffett will auction off the world’s most expensive lunch to raise money for a California homeless charity

One last time this spring, Warren Buffett will auction off the world’s most expensive lunch to raise money for a California homeless charity.

Prior to the pandemic, Buffett held a lunch auction once a year for 20 years, raising money for the Glide Foundation, which helps the homeless. The auction has been on hiatus for the past two years, but Glide said Monday, days before Berkshire shareholders will gather for the annual meeting. He is planning to revive the event this year, a report from AP said.

Every winning bid since 2008 has topped $1 million, and Buffett has raised nearly $34.5 million for the charity over the years.

In the past, many winners have been investors revered for Buffett’s record of finding undervalued companies and stocks to buy for his Omaha, Nebraska-based conglomerate. However, in the last auction, a cryptocurrency pioneer paid $4,567,888 for the chance to dine with Buffett, the report added.

Susie Buffett, Buffett’s first wife, introduced him to Glide when she volunteered there. The connection endured despite her passing in 2004.

In a statement, he said he supports Glide because it gives hope to people in difficult circumstances. For the poor and homeless, Glide provides meals, health care, job training, rehabilitation and housing support.

The 91-year-old billionaire didn’t immediately respond to questions about why he decided the end the auction after this year.

Glide’s President and CEO Karen Hanrahan said Buffett’s friendship and generosity over the past 22 years have been invaluable to the charity.

The weeklong eBay auction will begin June 12 with an opening bid of $25,000 and continue through June 17. The winner will get to bring up to seven people to eat with Buffett at the Smith & Wollensky steak house in New York City. The only topic that’s off-limits at the lunch is what Buffett might buy next.

Among the companies owned by Buffett’s company are Geico insurance, BNSF railroad, several major utilities and several manufacturing and retail businesses. Berkshire Hathaway has also invested heavily in Apple, Coca-Cola, American Express, and Bank of America. 

(With Inputs from AP/PTI)