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Buffett lunch fetches record price

18 Jun

Notwithstanding the gloom in Europe and the US, the “Oracle of Omaha” still seems to be shining bright on the global financial landscape.

Eye-popping numbers are nothing new to billionaire investor Warren Buffett. With a net worth of over $50 billion (35 billion euros), Buffett is also known for his uncanny sense of picking out big-ticket winners and predicting the economic pitfalls well in advance.

With such a wealth of financial acumen and aura around him it would come as no surprise that his words are the gospel for legions of investors and financial experts.

But in what promises to be eye-popping, an anonymous bidder is believed to have submitted a $2.63 million bid for a luncheon with the 80-year old Buffett at Smith & Wollensky, a steak house in New York.

“For many business tycoons, a private lunch with the ‘stock god’ can be an ideal strategy to promote themselves and also an occasion to gain tips on promoting their business,” says Yuan Wenzhao, deputy general manager of the Beijing-based Hanji Investment Group.

When the online bidding war ended on June 10 with eight bids, the highest bid had fallen short of last year’s record $2.63 million at $2,345,678, according to eBay. But according to Bloomberg reports, the eventual winner offered to kick in an extra $281,000 just to top last year’s record.

via Buffett lunch fetches record price.

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Posted by on June 18, 2011 in business, education, investing, think

 

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