Chinese Investor Wins Charity Auction Lunch With Warren Buffett | Ramblings of an e-trader

Wednesday 2 July 2008

Chinese Investor Wins Charity Auction Lunch With Warren Buffett

Did you read the news about the Chinese investor, Zhao Danyang of the Hong Kong-based Pureheart China Growth Investment Fund who paid US$2,110,100 to win a charity lunch with Warren Buffett? I don't know if there's anyone other than hi who would pay that much just to have dinner wit Warren Buffett but then this is all in the name of charity.

Zhao Danyang and up to seven other guests will have lunch whenever Zhao and Buffett could arrange it. Warren Buffett only auctions one lunch per year and has been doing so since year 2000.

All proceeds go towards charity and Glide Foundation has been the lucky recipient. What gave everyone a pleasant surprise was that this year's closing bid was so much higher than last year's auction at US$650,100.

The opening bid was US$25,000.

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