Inflation is just everywhere…
Even the infamous Warren Buffett charity lunch, wherein the “Oracle” auctions off lunch with him and the proceeds go to charity, is feeling the effect of inflation. The lunch, which is going to be to the last of its kind this year, cost the winner $19 million this year.
The 91 year old Buffett is going to meet with the anonymous donor at New York City steakhouse Smith & Wollensky, the Wall Street Journal reported last week.
The Journal noted that since the beginning of Buffett doing the charity lunch, he has raised “more than $53 million for Glide, a San Francisco charity that provides meals, healthcare and legal aid to homeless and other vulnerable individuals in the city”.
Buffett is now 91 years old. He said of the lunch: “It’s been nothing but good. I’ve met a lot of interesting people from all over the world. The one universal characteristic is that they feel the money is going to be put to very good uses.”
The sum of this year’s winning bid is more than 4x the year prior, when the lunch went for $4.56 million to a “cryptocurrency entrepreneur”. This year’s winner remains anonymous, according to the WSJ report.
As the report notes, other past winners have included Greenlight Capital President David Einhorn and Ted Weschler, who is now one of Berkshire’s portfolio managers.
Cost of lunch with Warren Buffett:
(winning bids in charity auction)
— Jon Erlichman (@JonErlichman) June 18, 2022