After 5 days and 43 rounds of fierce bidding, on June 17, local time, the dust of the 2022 Buffett lunch auction was settled, and the final price was fixed at 19.0001 million US dollars (about 127.6 million yuan).
(Source: eBay)
Finally, the most expensive charity lunch
The last Buffett Charity Lunch was auctioned at an all-time high.
Buffett's first auction for Charity Lunch began in 2000 and has used eBay as a bidding platform since 2003, raising more than $53 million to date.
The money ended up being given to a san Francisco charitable organization called the Glade Foundation to help the homeless.
Due to the epidemic, Buffett's lunch has been suspended for 2 years since 2020. On April 25, the Glide Foundation said Buffett plans to host the 21st and final charity lunch auction.
At 19:30 local time on June 12, the 2022 Buffett Charity Lunch Auction began on eBay, with a starting price of $25,000.
After 5 days and 43 rounds of fierce bidding, the 2022 Buffett Charity Lunch was finally set at $19 million, the most expensive in history.
According to eBay's official website, the winner of the auction is a bidder who starts with the letter w.
Two hours before the auction ended, the auction price reached $13 million, then climbed gradually to 17 million, and finally soared directly to 19 million.
(Source: eBay)
According to the convention, the winning bidder has the opportunity to invite up to 7 people to have lunch with Buffett at smith and Vronsky Steakhouse in New York City, USA, and discuss the topic of investment.
How did the charity lunch come about?
Buffett once said, "I have two key points in life: once I was born, and once I met Susan."
Susan was Buffett's first wife and the founder of Buffett's Lunch.
In 2000, Susan, a philanthropic enthusiast, brokered the idea that Buffett would use the influence auction to have lunch with him and donate the money to the Glade Foundation to provide meals, shelters and medical care for the homeless.
In the same year, the first Buffett lunch officially began offline auction, with a starting price of $25,000, and Pete Budlong, an electrical engineer at an Internet company, won the auction at the reserve price.
In 2003, Buffett's lunch auction shifted from offline to online eBay, and the winning bid price jumped to $250,000.
Since 2008, the amount of each winning bid has exceeded $1 million.
It is worth noting that buffett lunches in 2010 and 2011 were auctioned by Ted Whistler, founder of the hedge fund Peninsula Capital, at a price of $2.6263 million and $2.6264 million, respectively.
Subsequently, Ted Whistler successfully joined Buffett's company Berkshire Hathaway, where he helped take charge of $110 billion in stocks, bonds and other investments in Berkshire.
(Source: Financial Associated Press)
From the initial $25,000 to $19 million today, the price of the meal has nearly 760 times in 22 years.
Chinese at Buffett's charity lunch table
In these years of charity lunch auctions, the presence of Chinese is not low. As of now, of the 21 winning bidders, 4 are known to be from China.
In 2006, Duan Yongping, the man behind the former bully king, used the screen name "fast is slow" to shoot Buffett's lunch qualification for $620,100.
At that time, Duan Yongping also brought a young man with him when he went to the appointment- Huang Zheng. Huang Zheng regards Buffett as the person who has the most profound influence on him.
He said in an interview: "The biggest meaning of this meal for me is probably to make me aware of the power of simplicity and common sense. ”
Subsequently, Huang Zheng quit his job at Google and founded Pinduoduo.
(Huang Zheng on the left of the picture, source: network)
After leaving Xiaobawang, Duan Yongping founded BBK, and then fissioned the two major mobile phone brands OPPO and VIVO.
In 2008, Zhao Danyang, known as the "godfather of Chinese private equity," was the second Chinese to photograph Buffett's lunch for $2.11 million.
Because Zhao Danyang recommended his wumart commercial shares to Buffett during dinner with Buffett. After lunch, the stock rose nearly 24 percent over four trading days. After this, it became taboo to eat and talk about individual stocks with the stock god.
In 2015, Tianshen Entertainment Chairman Zhu Ye won the bid for the charity lunch auction, which made The stock price of Tianshen Entertainment soar from 66 yuan to the highest price of 125 yuan.
In 2019, another Chinese won the bid for Buffett's charity lunch auction. Sun Yuchen, a post-90s businessman in China, bids for Buffett's charity luncheon for a record $4.6 million.
Conclusion
Although Buffett has said that after this year, he will no longer participate in this lunch auction, But Berkshire Hathaway's lunch auction tradition will continue.
It is reported that the future charity lunch auction may be passed down by Buffett's three children.
END
Copyright Notice: This article is synthesized from the network public information. If the article or picture involves copyright issues, please contact us by the original author to invade and delete.
Disclaimer: There are risks in the financial markets and you need to be cautious when entering the market. This information is for reference only and does not constitute investment advice, and you enter the market accordingly at your own risk.