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article imageLunch With Warren Buffet Costs $2.1 Million on eBay

By Chris V. Thangham     Jun 29, 2008 in Business
A Chinese business manager has won a $2.1 million eBay auction to have lunch with billionaire Warren Buffett. All the proceeds of the auction will go to a charity organization.
In the annual charity auction, Zhao Danyang, manager of the Pureheart China Growth Investment Fund, won an eBay auction, earning him lunch with Warren Buffet. Danyang's winning bid was $2,110,100.
Warren Buffett has been doing this charity auction for Glide (a charity organization that provides social services for the poor and homeless) since 2000, but started an online auction six years ago.
Rev. Cecil Williams, co-founder of Glide, was thrilled with this year’s auction and Buffett’s help.
Williams told MSNBC.com:
"Thank you, Warren Buffett, for your deep compassion and sensitivity that empowers us to transform the lives of so many people in need…We are amazed and ready to continue our work of breaking the cycles of poverty."
The winner, Mr. Danyang, also appears to have similar investment philosophy as seen from his company website. Mr. Danyang and up to seven of his friends will dine with Buffett at the Smith & Wollensky steakhouse in New York City.
No meeting date has been set up as of yet, and a set date will depend on both of their hectic schedules. Last year’s winner met Buffet this past Wednesday.
This winning bid will boost Glide’s social services this year. Glide operates at an annual budget of $12 million according to their spokeswoman Denise Lamott.
This year's winning amount is more than three time more than last year’s charity lunch auction, which was bought for $650,100.
eBay said this is the most expensive charity auction ever held at its site.
Previously, the most expensive charity item ever sold on eBay was a Harley-Davidson motorcycle autographed by celebrities that Jay Leno offered in 2005 for tsunami relief. It brought $800,100.
In 2006, Buffet announced his plans to give away the bulk of his $49 billion fortune to charities, with most of it going to his friend Bill Gates’ charity, the Bill & Melinda Gates Foundation.
More about Ebay, Buffett, Charity
 
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