- The annual charity auction for a lunch with Warren Buffet kicks off May 26.
- 100% of proceeds will be donated to the Glide Foundation, a San Francisco-based organisation that supports the homeless.
- Last year’s winning bid was over $US4 million.
Bidding for the 20th annual charity auction for a “Power Lunch with Warren Buffett,” will kick off May 26. The lunch is presented by eBay and the Glide Foundation and will be held at steakhouse Smith & Wollensky in New York City.
The bidding will be hosted exclusively on eBay’s website, with final bids due by May 31 7:30pm Pacific Time.
As in previous years, 100% of the proceeds donated to the Glide Foundation, a San Francisco-based charity which provides local services to the homeless. The foundation is associated with the Memorial United Methodist Church and was founded over fifty years ago by Rev. Cecil Williams and Janice Mirikitani.
The annual lunch, which started in 2000, has raised over $US28 million for the non-profit. Buffett’s late wife, Susan Thompson Buffett,was a well-known resident and philanthropist in San Francisco.
Per the bidding website, GLIDE is described as “a radically inclusive, just and loving community mobilized to alleviate suffering and break the cycles of poverty and marginalization.
“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. Glide strives to create a healthy community by offering effective services that foster holistic healing in an environment of cultural integrity and diversity.”
Similar to Berkshire Hathaway’s stock price, the cost of a winning bid has risen substantially over the years. In 2000, the winning bid was $US25,000 whle the 2018 winning bid clocked in at $US4.23 million, an increase of 169x. In the same time period,Berkshire Hathaway’s stock price has risen a mere 5.5x in comparison.
For entrants short of $US4 million, eBay for Charity offers a variety of other ways to support the Glide Foundation.
Business Insider Emails & Alerts
Site highlights each day to your inbox.