Daily Ticker

Buffett: A Very Expensive Lunch Date But Worth It

Daily Ticker

Make sure you work up an appetite, and bring your wallet, because Warren Buffett's annual lunch auction for charity kicks off Sunday. Last year's winner paid $3,456,789 to share a private meal at New York’s Smith & Wollensky with the investing legend. That sounds like a lot, but the return on investment may make it worthwhile.

Ted Weschler famously paid more than $5 million dollars for lunches with Buffett in 2010 and in 2011. They must have had a lot in common... because Weschler was hired on as one of Berkshire Hathaway’s two investment managers. Today he helps oversee $5 billion and is paid well for it: Weschler is expected to get a bonus of more than $50 million for his portfolio success last year.

Winning bids over the past five years have topped $2 million – that’s “couch change” to the bidders involved, say Aaron Task and Henry Blodget of The Daily Ticker.

“Warren Buffett is a legend, absolute legend, and will be for next 50 years,” Blodget says; so it makes sense that high rollers would pay millions for a private lunch – plus what a way to impress your friends and annoy your enemies!

By the way, all money raised by the auction goes to The Glide Foundation, which helps the poor and homeless in San Francisco.

So The Daily Ticker wants to know: what would you ask Warren Buffett?

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