Warren Buffett's charity lunch returns, but for the last time
The 'finale' of the 'Power of One' charity auction lunch is expected to bring a record price
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If sitting down for a meal with Warren Buffett is on your bucket list, this year could be your last chance – and you'd better have a lot of dough.
Warren Buffett, Chairman and CEO of Berkshire Hathaway. (AP Photo/Nati Harnik, File / AP Newsroom)
The 91-year-old Berkshire Hathaway chairman and CEO has agreed to host another "Power of One" charity auction lunch in 2022 after taking a two-year hiatus due to COVID-19, but this will be the finale and the winning bid is expected to shatter records.
Whoever wins gets to have lunch with Buffett and up to seven guests at the ritzy Smith & Wollensky steakhouse in New York City, a favorite of the legendary investor.
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Buffett began holding the annual lunch benefiting San Francisco-based nonprofit GLIDE in 2000 after he was introduced to the charity by his first wife, Susie, who volunteered for the organization and died in 2004.
Chairman and CEO of Berkshire Hathaway Warren Buffett rides in a golf cart at the Allen & Company Sun Valley Conference on July 07, 2021 in Sun Valley, Idaho. (Photo by Kevin Dietsch/Getty Images)
The inaugural event brought in $25,000, but since 2008, the winners have all paid upward of $1 million. In total, the past 20 lunches have raised more than $34 million for GLIDE, which provides services such as meals, shelter, job training, and child care services.
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Notable past winners include Ted Weschler, who won two auctions and went on to become a portfolio manager at Berkshire, and cryptocurrency entrepreneur Justin Sun, who paid a record $4.57 million for the last lunch held in 2019.
Warren Buffett (Daniel Zuchnik/WireImage / Getty Images)
This year's auction will launch on eBay on June 12, with a starting bid of $25,000. Anyone interested in placing a bid must be pre-qualified ahead of time.
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"With Warren Buffett's final Power Lunch we anticipate another record-setting auction," said eBay CEO Jamie Iannone, who noted that all proceeds will go to supporting GLIDE.
Reuters contributed to this report.