Warren Buffett Online - Lunch with the Richest
Man in the World
Buffett Biography (Warren Edward Buffett)
Famous American Investor - Stock Market
Famous for :
The successful Berkshire Hathaway Company,
being one of the richest men in the world,
and for being a generous philanthropist.
: Born - August 30, 1930 Omaha,
/ Lives - United States of America - Omaha
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Buffett Charity Auction 2008
Biography - Information
Buffett has put himself up for
auction again this year. Bidding has started
on the online auction website eBay for lunch
with Warren Buffett at the Smith and Wollensky
steakhouse restaurant in New York. The winning
bidder and seven friends will get to dine
with the Berkshire Hathaway CEO.
All proceeds from the power lunch auction
will go to the Glide
Foundation in San Francisco. The Glide
Foundation feeds and supports the poor and
disenfranchised with more than 750,000 meals
being served each year. They also operate
a medical clinic and organize youth job
training for the unemployed. For the last
nine years Buffett's power lunch proceeds
have been donated to Glide. Last year the
winning bid for the Buffett power lunch
rose to more than $650,000.
Mohnish Pabrai of Pabrai Investment Funds
and his wife Harina Kapoor of Dakshana Foundation,
along with Guy Spier of Aquamarine Capital
Management were the winners of the Warren
Buffett lunch auction in 2007, with a winning
bid of $650,100.
Glides founder Reverend Cecil William
said "We are incredibly grateful to
Warren for his consistent generosity and
support.. Our work is hands-on in the community,
helping our poorest neighbors stabilize
their lives. Warrens gift allows us
to reach out to even more people, providing
food, shelter and spiritual comfort."
Forbes business magazine estimated Warren
Buffett's fortune to be worth $62 billion
in 2008, making him the richest man in the
The Buffett power lunch auction finishes
on Friday, June 27, 2008 at 7:00 p.m. PDT
With three days remaining the winning bid
for the lunch so far is $77,100.00.
The lunch with Warren Buffett auction has
been won with a bid of US $2,110,100.00.
The $2.1 million price tag was paid by Zhao
Danyang, who manages the Pureheart China
Growth Investment Fund in Shenzhen. The
$650,000 paid last year for lunch with Buffett
was thought to be a wildly impressive figure,
but that bid has been dwarfed this year.
Zhao Danyang will have a lot to discuss
with Warren Buffett as his investment philosophy
is very similar to the Omaha billionaire's
outlook. Below is a paragraph taken from
the Pureheart China Growth Investment Fund's
Investment Ideology page..
"We do not follow stock index and
price-volume analysis. We rarely use individual
stock charts as the basis for investment
decisions. We only partly agree to fundamental
analysis. By taking a long-term view, we
believe that the share price of a (well
managed) enterprise will undoubtedly reflect
its intrinsic value over time. Our selection
criteria are quite simple. We seek enterprises
that can survive. These enterprises have
been established usually for a decade or
more and have relatively high success track
records. We strongly believe that if we
own part or most shares of these enterprises,
our investment will grow and breed success
together with the companies."
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