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Buffett is amazed his lunch drew a $2.1M bid



By JOSH FUNK, AP
01 July 2008 @ 02:45 pm EST

OMAHA, Neb. - A Chinese investment fund manager's bid for the chance to have lunch with billionaire Warren Buffett was the largest ever in a charity auction on eBay and surprised even Buffett.


Buffett Lunch
Warren Buffett hands out a Girl Scout Thin Mint Cookie Blizzard at a Dairy Queen in Omaha, Neb., Tuesday, July 1, 2008. Buffett said Tuesday he was blown away by the $2.1 million that Zhao Danyang bid to win the charity auction lunch with him, that benefits San Francisco's Glide Foundation. But Buffett said the size of Zhao's bid doesn't necessarily mean the lunch will last longer than the usual three hours he spends with auction w...
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"It kind of blew me away," Buffett said Tuesday.

Zhao Danyang of the Hong Kong-based Pureheart China Growth Investment Fund won the auction, which ended Friday evening with a bid of $2,110,100.

The Oracle of Omaha said the size of Zhao's bid doesn't mean the meal will stretch past the three hours Buffett usually spends with auction winners.

All of the auction's proceeds go to the Glide Foundation, which provides social services to the poor and homeless in San Francisco.

This was the sixth year that Buffett auctioned a lunch on auctioneer eBay Inc.'s Web site to benefit Glide. Buffett began auctioning the lunches for Glide off-line in 2000.

Last year, two investors won lunch with Buffett for $650,100.

Visiting a Dairy Queen in Omaha Tuesday morning to sample the new Girl Scout Thin Mint Cookie Blizzard--a perk of being CEO of Berkshire Hathaway Inc., which owns International Dairy Queen Inc.--Buffett chatted with six area Girl Scouts.

When one asked Buffett about how he chooses which charities to support, he said to look for the most effective ones whose mission you believe in.

Buffett announced in 2006 that he will steadily give away the bulk of his fortune. Most of his stock in Berkshire Hathaway will go to five charitable foundations, with the largest portion going to the Bill & Melinda Gates Foundation.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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