In our previous post, we speculated whether the Warren Buffett power lunch would go over a million dollars this year. Well, the result is in and it is way over a $1 million. The winning bid is $2,110,100 , which is almost 4 times of what was paid last year for the same auction ($650,000) According to Bloomberg, Zhao Danyang, the hedge-fund manager of Pureheart China Growth Investment Fund (Shenzhen, China) had the winning bid.
100% of proceeds from the auction benefits the Glide Foundation, one of the most effective institutions working to alleviate human suffering and poverty in the San Francisco Bay Area. Mr. Buffett has described Glide as “maybe the most effective organization I’ve seen for people down on their luck.” – source: eBay auction page.
The dinner will take place at Smith & Wollensky in New York City. According to their website: “Smith & Wollensky is one of the most trafficked restaurants in New York and among the most celebrated steakhouses in the world. Specializing in fresh seafood and lobster and assorted steaks and chops, Smith & Wollensky is well recognized for its healthy portions, seasoned service staff and pop Americana ambience. The surnames, Smith and Wollensky, were chosen from the local telephone directory by the restaurant’s founder Alan Stillman, of T.G.I. Friday’s fame. Wollensky’s Grill, a smaller but spirited bar room installed in the side of the famed midtown restaurant, is open until 2 a.m. Catering to night owls, Wollensky Grill offers a late night bill of fare featuring lighter supper versions of items from the grander Smith & Wollensky steakhouse menu and plenty of high-end red wines by the glass to choose from.” See more reviews about the steakhouse on Yelp