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$1.68 million for lunch with Warren Buffett!

Last updated on: July 9, 2009 

$1.68 million for lunch with Warren Buffett!

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A lunch with the world's greatest investor costs $1.68 million!

Toronto-based investment firm, Salida Capital led by Courtenay Wolfe has won the charity auction to dine with billionaire investor Warren Buffett.

For the lucky eight who get to dine with Buffett, this is a dream come true. The winner can take seven people for the pricey lunch at Smith & Wollensky restaurant in New York.

This was the second highest bid, in the 10th annual fund-raiser event.

The highest bid for the lunch was $2.11 million, placed by Hong Kong-based  investor Zhao Danyang (in picture) last year.  Zhao Danyang said Buffett's principles were the secret behind his success. It was after reading about Buffett's investment strategy that he started making money. Zhao alongwith seven of his family members spend about three hours with Buffett.

The starting price for the auction this year was $25,000.


 


Image: Hedge fund manager Zhao Danyang (L) and his son Zhao Ziyang with Warren Buffett after placing the winning bid in a charity auction in New York on June 24, 2009.Buffett handed his wallet to the younger Zhao and then whispered him a stock tip as they passed by photographers after completing television interviews at New York's famous steak house, Smith & Wollensky.
Photographs: Reuters
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A lunch with Buffett for $1.68 million!

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Courtenay Wolfe, chief executive officer, Salida Capital, will attend the lunch with Warren Buffett with 7 big supporters of the company. 

"This is a once in a lifetime opportunity to sit down with one of the world's greatest investors," Wolfe said. This is a good opportunity for Salida Capital to interact with Buffett and get insights from him on investment and the economic crisis, he said.

Salida Capital founded in 2001, is a leading international investment management firm which offers innovative investment solutions.


Image: Warren Buffett fills a glass with Coke during a news conference in Madrid
Photographs: Andrea Comas/Reuters
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A lunch with Buffett for $1.68 million!

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The proceeds of the auction would go to The Glide Foundation, which offers housing, job training, health and child care to the poor in San Francisco. 

From 2001 to 2007, the lunch bids were won for $18,000, $25,000, $250,100, $202,100, $351,100, $620,100 and $650,100.

The nine auctions so far have raised more than $4.2 million for the Glide Foundation.

Image: The Glide Foundation helps the poor
Photographs: The Glide Foundation.
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A lunch with Buffett for $1.68 million!

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The lunch will be hosted at the famous Smith & Wollensky restaurant in New York, which contributed $10,000 to The Glide Foundation.   

Image: Smith & Wollensky restaurant

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