The value of a private lunch with the Oracle of Omaha just skyrocketed.An anonymous individual paid $3.5 million yesterday in an annual charity auction that lets the winning bidder lunch with Warren Buffett, according to the AP.
The selling price of the lunch this year is nearly a million more than the $2.6 million that was paid last year to lunch with the famous investor, but many believe that it is well worth the money. Hedge fund manager Ted Weschler, who forked out about $5.3 million for lunch with Buffett in 2011 and 2010, ended up getting a job with Berkshire Hathaway.
Buffett said he doesn’t plan on hiring the person that wins the auction this year, but we’re sure he’ll still be full of investing insight and advice. The lunch is traditionally held at the famed steakhouse Smith and Wollensky in New York. Buffett donates all the proceeds from the auction to the Glide Foundation in San Francisco, which fights homelessness in the city.