Warren Buffett Charity Lunch Costs $2.63 Million

(Reuters) - A steak lunch at Smith & Wollensky in Manhattan starts at $36.50. The same lunch, eaten in the company of legendary investor Warren Buffett, costs approximately $2.63 million.

That was the final result of the annual online charity auction for lunch with the "Oracle of Omaha," which ended late Friday night. A total of two bidders entered eight bids in the eBay (EBAY.O) auction, which started last Sunday.

The final bid was actually for just under $2.35 million, but the anonymous winner added to that after the auction to surpass last year's winning bid by $111, organizers said.

Interest was much lower than in 2010, when nine bidders made a total of 77 bids for the luncheon.

The proceeds benefit GLIDE, a San Francisco charity that Buffett was introduced to by his late first wife, Susan.

Buffett, 80, is the chief executive of the insurance-to-ice-cream conglomerate Berkshire Hathaway (BRKa.N) and one of the world's richest men.

His fondness for red meat is also well known; during Berkshire's annual shareholder meeting in Omaha he urges investors to visit his favorite steakhouses for a T-bone steak or two.

(Reporting by Ben Berkowitz; Editing by Paul Simao)

Copyright 2010 Thomson Reuters. Click for Restrictions.

Comments

[offmyrocker]

02:17 PM on 06/13/2011

Now there money well spent

[den1953]

11:33 AM on 06/13/2011

I am more then happy to invite Buffet to a 4.99 meal at McDonalds and i will even pay for it down at this level that is how middle class America rolls!

[Courtnay Gilliam]

11:13 AM on 06/13/2011

Damn does that come woth the Reasturant.. I could buy one at that price

[acastan1]

10:49 AM on 06/13/2011

Ok, I agree that this is a good cause. However, couldnt WB just donate the $2.6 M himself? I assume that he donates to the charity, but still..

[msbeal]

02:35 AM on 06/13/2011

I wouldn't pay this guy if he were my waiter.

[osofar]

12:58 AM on 06/13/2011

There is no free lunch.

[Lisa IngrahamMitchell]

11:38 PM on 06/12/2011

Why would someone with that kind of "spare" money, not donate directly to the charity organization? After Buffett and his baffoons get their cut, the actual cause will probably receive less than 50%~ What a waste

[fireart]

11:28 PM on 06/12/2011

Buffett owned a bond co. that covered moneys in accounts over $100,000. When he came out in support o stimulis the insurance went to $250,000 saving the bond co. $150,000 per account. Everyone has a price even Buffett.

[RegularFolksFinance]

09:41 PM on 06/12/2011

Did I go crazy, or did HuffPo remove every link to access your personal account? All it lets me do is sign out and sign back in again.

[Erinaleks]

08:44 PM on 06/12/2011

Anthony Weiner did it

[laurawee]

07:37 PM on 06/12/2011

hmmm, I'm reading posts by a bunch of jealous people- plain and simple.

[Adrianes Streisand]

12:03 PM on 06/13/2011

People in USA are the same like in Poland?

[leorangerie]

03:31 PM on 06/12/2011

is the waiter's tip based on the actual menu...or the overall price of the lunch?

[rikster]

12:08 PM on 06/12/2011

not worth it...

[maxfax]

04:44 PM on 06/12/2011

Generally you'd be correct, except the money goes to charity.

[calltoaction]

12:00 PM on 06/12/2011

there's got to be a happy ending included at that cost.

[maxfax]

04:44 PM on 06/12/2011

Like the charity getting the money?

[OceanFilmProd]

11:49 AM on 06/12/2011

Perhaps the winner is going to leverage that almost 3M into gaining some tips from Buffett that will be parlayed into something Philanthropic that will generate twice that amount if not more...we'll never know what the winner's intent with this lunch will be, gain for him or gain for those that need it most, but I for one would like to think it's the latter...